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India to become third-largest economy soon: Sitharaman
Nov-05-2025

The Finance Minister Nirmala Sitharaman asserted confidence about India becoming the third-largest economy in the world soon, and added that the country currently stands out as a fast-growing economy. She emphasized that the country’s economic strength has made it self-sufficient. She highlighted that the government has been able to pull 25 million people out of multi-dimensional poverty since 2014.

On the banking sector, she said the balance sheets of public sector banks have improved significantly compared to the twin balance sheet problem they faced 7-8 years ago. Further, she exuded confidence that the government would meet the ambitious fiscal deficit target of 4.4 per cent for the current financial year. The government has estimated the fiscal deficit during 2025-26 at 4.4 per cent of the GDP, or Rs 15.69 lakh crore.

Meanwhile, India’s gross domestic product (GDP) had been estimated to grow by 7.8% in Q1 of FY 2025-26 as against the growth rate of 6.5% during Q1 of FY 2024-25. The GDP has been estimated at Rs 47.89 lakh crore during Q1FY26, besides, it was Rs 44.42 lakh crore in Q1 of FY 2024-25. During the same quarter, the real gross value added estimated at Rs 44.64 lakh crore, against Rs 41.47 lakh crore in same quarter last year.

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