India can soon be fifth largest global economy: Jaitley
Mumbai, July 12 : India can become the worlds fifth largest economy soon if firm growth continues, Union Minister Arun Jaitley said on Thursday.
His comments came a day after the World Bank's latest rankings placed India as the world's sixth-largest financial system, ahead of France in seventh place. As per the World Financial Institution data for 2017, India's GDP amounted to $2.597 trillion as compared to $2.582 trillion for France.
"India can become world's fifth largest economy if firm growth continues," Jaitley said in a video address at a National Bank for Agriculture and Rural Development (NABARD) event here.
Noting that the economy is in a stable condition, he said there should be added focus on eliminating agrarian distress.
In this connection, the recent move to hike the Minimum Support Price (MSP) for farmers will help eradicate farmer distress that was rampant last year, he said.
The decision to extend the MSP is an enormous step to scale back the plight of farmers within the nation, he said.
"NABARD has played a crucial role in shaping the agrarian sector."
The NDA government is paying particular attention in improving the country's rural infrastructure, he added.
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Adequate LPG stock in Chhattisgarh, no need to panic, says CM Sai
Raipur (PTI): Amid reports of shortage of commercial LPG cylinder in several parts of the country due to the US-Israel-Iran conflict, Chhattisgarh Chief Minister Vishnu Deo Sai on Tuesday assured people that they need not worry about the availability of cooking gas in the state.
He asserted that adequate stock of LPG as well as petrol and diesel was available in the state.
Sai said in a statement that authorities have been directed to regularly monitor stock at gas agencies and keep a close watch on the supply chain. Necessary instructions were issued to officials in all districts to ensure a smooth supply of LPG.
The chief minister instructed officials to take strict action if any complaint of black marketing or hoarding of LPG cylinders is received.
Sai urged state residents not to pay attention to rumours and to book cooking gas cylinders as per their actual requirement.
The government was fully alert to ensure the availability of essential commodities to citizens, he emphasised.
Meanwhile, the Chhattisgarh Hotel and Restaurant Association has issued an advisory to hotels, restaurants, caterers and other food businesses across the state, urging them to maintain calm and avoid panic buying.
In the advisory, Taranjeet Singh Hora, president of the association, asked members to maintain coordination and immediately inform it about any major disruption in LPG supply.
He cautioned businesses against hoarding cylinders, saying such practices could worsen the situation for the entire hospitality sector.
The association advised hotels and restaurants to prioritise essential kitchen operations, core menu items and already committed banquet events.
Use electric cooking equipment wherever possible for emergency and staff kitchens such as induction cooktops, electric hot plates, electric rice cookers and kettles, the advisory stated.
