India will achieve 10% GDP growth by Q4 of fiscal: Goyal
New Delhi, June 18 : The government is hopeful of achieving double-digit gross domestic product (GDP) growth in the country by the fourth quarter of the ongoing financial year, Railway and Coal Minister Piyush Goyal said on Monday.
Responding to a query at the Growth Net conclave here on how India proposed to go much faster than the current 7 per cent growth rate, Goyal, who also has temporary charge of the Finance Ministry, said his optimism on the 10 per cent GDP growth was based on the revival of domestic demand and the dynamism of a society that has become "aspirational".
"I see double digit growth happening by the fourth quarter of this year. There is a demand optic in the country and this growth will be driven by a society that has become very aspirational," he said.
There is one caveat to this... when this country decides to do business honestly, we will have 10 per cent GDP growth," he added.
Noting that the NDA government was committed to being an enabler of growth, Goyal said its focus had been providing on providing political and macroeconomic stability.
"Our focus has been on not doing anything that threatens the social fabric of the country. How can we take the entire country along for growth and development... that has been our thrust in these four years," the Minister said.
"Fiscal deficit this year will be kept within the target limit of 3.3 per cent. We are monitoring to ensure that the deficit is at 3.3 per cent despite it being an election year."
Asked if rising global crude oil prices were threatening India's macroeconomic stability, Goyal said the government was monitoring the situation on a real time basis, including other international factors like the rise in interest rates in the US and Europe.
"The government is monitoring the situation on a real time basis. It will ensure the stability of the economy and that we achieve all targets, including the fiscal deficit of 3.3 per cent," he said.
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Complainants hail HC order dismissing CM's petition challenging Guv's order
Bengaluru (PTI): The complainants, who were granted sanction by the Karnataka Governor Thaawarchand Gehlot after they sought an order for probe from the special court against the Chief Minister Siddaramaiah in a site allotment case, on Tuesday hailed the High Court's verdict dismissing his petition challenging the approval.
The Chief Minister had challenged the approval given by Gehlot for an investigation against him in the alleged irregularities in the allotment of 14 sites to his wife by the Mysuru Urban Development Authority (MUDA) in a prime locality.
The Governor on August 16 accorded sanction under Section 17A of the Prevention of Corruption Act, 1988 and Section 218 of the Bharatiya Nagarik Suraksha Sanhita, 2023 for the commission of the alleged offences as mentioned in the petitions submitted to him by the three complainants -- Abraham T J, Snehamayi Krishna and Pradeep Kumar S P.
“We had petitioned in the High Court seeking the dismissal of Siddaramaiah's plea. Whatever objections we had filed, the order has come accordingly, which is a matter of pleasure for us,” Abraham told reporters soon after a single judge bench of Justice M Nagaprasanna dismissed Siddaramaiah’s petition.
When told that the Chief Minister may challenge the order in the division bench, Abraham said: “Let him challenge in the division bench. He will use his legal rights. Since he is moving the (High Court's) division bench, we are filing a caveat there.”
Krishna said: “We had brought to the notice of the High Court that Siddaramaiah’s role is there in the irregularities. Accordingly, the Honourable Court gave its order.”
Krishna claimed that there was "unshakable" documentary evidence available against the Chief Minister. “He will lose whichever court he goes to."
After completing the hearings on the petition in six sittings from August 19, Justice Nagaprasanna on September 12 reserved the verdict.
On August 19, Siddaramaiah moved the High Court challenging the legality of the Governor's order.
