Speaking at the India Today Conclave 2019 on Friday, Union Minister Nitin Gadkari said that every country faces ups and downs when it comes to the economic health but the government is taking the right measures to nurse it back. He also said that the kind of measure the PM Modi-helmed government is taking will help the country achieve the goal of $5 trillion economy.
"I believe the kind of measures we are taking will help us achieve the goal of making India a $5 trillion economy. This will lead to employment generation, will boost India's GDP growth and will make the economy powerful," he said at the event in Mumbai.
Gadkari's statements come at a time when India registered a 5 per cent GDP growth, the lowest in six years.
He also acknowledged a slowdown but blamed the global economy as well as supply and demand. "It is true that business cycle is going through ups and downs due to the unstable global economy and supply and demand."
When asked if the Modi government admits the slowdown and the severity of the crisis, Gadkari replied: "I don't agree with you. The investors trust this government because it is investment friendly. This government is bringing in reform in all sectors. We brought the Goods and Services Tax, abrogated 1,200 outdated laws."
"Every country faces ups and downs," he said, further adding that there are some problems in the economy due to demand and supply.