Union minister Anurag Thakur on Saturday said that the economy hit by the COVID-19 outbreak has started coming back on track since the July-September quarter of this fiscal. In the midst of the coronavirus outbreak, the Narendra Modi government took a slew of measures to revive business following which the economy started returning back on track since the second quarter of this financial year, the Minister of State for Finance and Corporate Affairs told reporters here.
He was speaking on the sidelines of a national event of company secretaries. The minister said that the Good and Services Tax (GST) collection was more than Rs 1 lakh crore in October and November as well. He parried a reply on whether the economy would come out of the slowdown in the third quarter (October-December).
The world believes that India has taken up the right steps to tackle the crisis sparked by the pandemic. The world agencies have predicted that the Indian economy in the next fiscal would grow to 8.5 percent.
This growth would be the best among the developing economies, he added. Thakur said that a new parliament building which will come up in Delhi would prove to be the emblem of Independent India history, adding it is going to have modern facilities for public representatives to do work with ease.