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'No Economic Slowdown': Govt Cites Earnings Of 3 Movies, Says 'Sound Economy'

Union Minister Ravi Shankar Prasad said that on October 2, three movies collectively earned Rs 120 crore.

'No Economic Slowdown': Govt Cites Earnings Of 3 Movies, Says 'Sound Economy'
Union Minister Ravi Shankar Prasad
'No Economic Slowdown': Govt Cites Earnings Of 3 Movies, Says 'Sound Economy'
outlookindia.com
2019-10-12T19:13:28+0530

'There is no economic slowdown', said Union Minister Ravi Shankar Prasad on Saturday, citing the earnings of three blockbuster movies.

While addressing a press conference, Prasad said that on October 2, three movies collectively earned Rs 120 crore.

"On October 2, three movies were released. Film trade analyst Komal Nahta said that day saw an earning of over Rs 120 crores, a record by three movies," Prasad said.

Dismissing claim that there is an economic slowdown, Prasad said that the economy of the country is sound, "that is why there is a return of Rs 120 crore in a day."

India's GDP growth has touched a six-year low of 5 per cent for the June quarter. In fact, the RBI now expects GDP growth to come down to 6.1 per cent in FY20 from the earlier forecast of 6.8 per cent.

Prasad also said that the NSSO report on unemployment is false, saying some people are trying to mislead the country. "I gave you 10 relevant data, not one is present in the report. We never said we will give government jobs to everyone," he said.

(With Agency Inputs)

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