N.K. Singh stated on Friday that Goods and Services Tax reforms have strengthened purchasing power for ordinary citizens and enhanced conditions for business operations and private investment. The 15th Finance Commission chairman spoke at the Kautilya Economic Conclave 2025 and described current circumstances as a turning point for addressing economic challenges. Singh emphasized that India maintains its position as the fastest-growing major economy and continues advancing toward becoming the third-largest global economy.
Official figures showed real GDP growth reached 7.8 percent for the April through June quarter, and the Reserve Bank of India projected 6.8 percent expansion for fiscal year 2025-26. Finance Minister Nirmala Sitharaman addressed the same conference and highlighted domestic economic strength as a buffer against international volatility and shifting trade regulations. She said India must achieve 8 percent GDP growth to meet development targets by 2047, but self-reliance does not require isolation from global markets.
Official figures showed real GDP growth reached 7.8 percent for the April through June quarter, and the Reserve Bank of India projected 6.8 percent expansion for fiscal year 2025-26. Finance Minister Nirmala Sitharaman addressed the same conference and highlighted domestic economic strength as a buffer against international volatility and shifting trade regulations. She said India must achieve 8 percent GDP growth to meet development targets by 2047, but self-reliance does not require isolation from global markets.
