Did the unemployment rate increase or decrease compared to 2017-18? Finance Minister gave information in Rajya Sabha

Nirmala Sitharaman: Finance Minister Nirmala Sitharaman said on Thursday that the unemployment rate in the country has come down to the level of 10 percent in comparison to the financial year 2017-18. It has fallen to its lowest level in six years. According to the report, Sitharaman also said that about 13.5 crore people have come out of 'multidimensional' poverty in the last five years. He said India continues to maintain its momentum as the fastest growing major economy, with all sectors contributing significantly to economic activity.

Second quarter GDP growth rate very high

According to the news, Sitharaman said that the GDP growth rate of the second quarter was very high, it is the highest in the world. We are continuously maintaining the momentum of being the fastest growing economy. In just the last eight years, India has grown from the 10th largest economy in 2014 to the fifth largest economy today. Activities are throughout the economy. It is not that one sector is doing well, all sectors are growing and growing significantly. We have to pay attention to this.

Concern over rising prices

According to the news, members of many opposition parties expressed concern over the rising prices in the country. On this the minister said that the government has taken many steps to control inflation. Retail inflation based on the Consumer Price Index (CPI) had reached an all-time high of 7.8 per cent in April 2022. However, now it is close to the Reserve Bank's target of 4 percent.

The manufacturing sector is also making an important contribution to the economy.

Finance Minister Nirmala Sitharaman said the manufacturing sector is also making a significant contribution to the economy on the back of measures taken by the government, including the Make-in-India program and the Production-Linked Incentive (PLI) scheme. India is the second most sought-after manufacturing destination in the world. The Finance Minister further told the House that till November 9 this year, direct tax collections increased by 21.82 per cent and monthly GST collections have stabilized at Rs 1.6 lakh crore in a sign of economic growth.