India's Rapid Economic Growth Positions It to Become World's 3rd Largest Economy: Finance Minister Sitharaman

New Delhi:

Finance Minister Nirmala Sitharaman declared on Tuesday that India currently distinguishes itself as a rapidly growing economy and will soon secure its position as the world's third-largest economy.

While speaking to students at the Delhi School of Economics, Sitharaman emphasized that India stands distinctively on its own merit due to its robust economic foundation.

"What truly sets us apart is our swift progression from being the tenth largest economy in 2014 to fifth, then fourth, and now imminently advancing to the third position," she stated.

The Finance Minister further highlighted that the government has successfully elevated 25 million individuals out of multi-dimensional poverty.

Regarding the banking sector, Sitharaman noted that public sector banks have significantly improved their balance sheets compared to the twin balance sheet challenges they faced 7-8 years ago.

She expressed confidence that the government would achieve its ambitious fiscal deficit target of 4.4 percent for the current financial year.

The Centre projects the fiscal deficit for 2025-26 at 4.4 percent of the GDP, equivalent to Rs 15.69 lakh crore.