Finance Minister Nirmala Sitharaman said on Monday that India's economic growth has decelerated but it is still the fastest-growing among the G20 nations. She also assured that the goal of $5 trillion economy will be achieved by 2025.
In a question raised by NK Premachandran, an MP from Kerala, Sitharaman replied that though India is seeing a deceleration in growth recently, its economy is being projected as the fastest-growing among G-20 countries in 2019-20.
"The government has been taking several measures to address moderate levels of fixed investment rate in the economy, plateauing of private consumption rate and modest export performance, with a view to increasing the GDP growth," said Sitharaman.
Sitharaman also said that the 15 per cent corporate tax rate for new domestic manufacturing companies announced in September was "amongst the lowest in the world".