Current economic situation challenging: Union Minister
Bengaluru, Sep 12 (PTI) Union Minister D V SadanadaGowda
Gowda on Thursday said the current economic situation in the
country was "challenging", but expressed the hope that the
measures taken by the union government to address it would
see India quickly progress ahead ''in a very short time.''
"In 2008-09 also we had seen global slowdown, butduring
the time of economic slowdown, the measures taken bythe
administrative machinery is important as it plays a crucial
I agree that our GDP, that was 8.2 per cent, has now come
downto five per cent. This is certainly a challenge for the
administration," Gowda said.
Pointing out that the union government has taken a slew
ofmeasures to address the situation like for the automobile
sector,infusion of funds to banks and addressing of liquidity
issuesconcerning MSMEs, he said these were toaddress the
"notion of financial instability".
"Because of several such reform measures, in a veryshort
time we will progress ahead," he said, noting that inthe past
too India had faced even more challenging times, butthe
country has "come back".
Gowda was addressing a press conference here to showcase
the hundred days'' achievement of Prime Minister Narendra Modi
led NDA 2 government.
The more the employment is generated, the further push it
would give to the financial sector, the Minister said and
pointed out that the government was also giving an impetus to
self-employment through schemes like Mudra loan.
To a question on the delay in release of central funds
for Karnataka that was hit byincessant rains and floods,
Gowda, who hails from the state, said it would be released at
the earliest, but did notspecify any time-frame.
SDRF funds to be released in December hasalready been
released, he said, as he clarified that theCentre has not
released any flood relief funds to any affected state so far.
"All major work for restoration and rehabilitationwill
only start once the rain stops.For immediate rescue and relief
work, the state is using available funds," hesaid, as he
expressed confidence that central funds would alsobe released
at the earliest.
As many as 103 taluks in 22 districts were affected by the
recent floods in many parts of Karnataka and the government
has sought Rs 38,000 crore as relief from the Centre.
Rejecting the charges of the opposition anda section of
the public that union Ministers and MPsfrom Karnataka "lack
courage" to question the Prime Ministeron the "delay" in
granting central relief,Gowda said "it is far from the truth."
He pointed out that during every cabinet meeting on
Wednesdays, Ministerscan raise issues concerning their
states with the Prime Minister directly.
"Last week also I had sharedwith him the information I
had gathered from Karnatakaon the situation in the affected
BJP governments at both the centre and the state have
beenfacing flak from the opposition Congress and JDS on the
"delay" in grant of central funds, despite Home Minister Amit
Shah and Finance Minister Nirmala Sitaramanvisiting the
The Opposition parties have accused the Modi government
ofshowing its "apathy" towards Karnataka, despite the state
sending 25 BJP MPs.
To a question on criticism of the steep fineamounts
under the amended MV Act, Gowda said the intentionbehind the
act was to control accidents and protect lives, butstates can
change it as they are the implementing authority.
He referred to Union Transport Minister Nitin Gadkari''s
recent statement on the matter that accidents have drastically
reduced after implementation ofthe act and new fines.
Gowda, the Minister for Chemicals and Fertiliserssaid
his ministry has no plans to set up any new fertiliserplant.
The government was reviving four fertiliser plantsat
Ramagundam, Sindri, Barauni and Gorakhpur at a cost of Rs
15,000 crore and once operational, "we will able tofulfill
the 22 per cent that we are importing right now," he said.
Noting that many private players have evincedinterest in
setting up fetrtilizer plants, he said the Karnataka state
Marketing Federation has come forward to invest Rs 6,000 crore
for a plant in Devangere and they were also in talks with a
private player. PTI KSU RS APR
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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