With USD 590 billion in foreign exchange reserves in Kitty, India is now a net creditor: MoS Thakur

& # xD; & # xD; India now has foreign currency reserves of over $ 590 billion, the highest ever, up $ 119 billion from a year earlier, while external debt is $ 554 billion. This makes the country a « net lender, » said Minister of State for Finance, Anurag Singh Thakur, here on Saturday. & # xD; & # xD; Speaking to media officials, he said the country was witnessing a V-shaped recovery from the Covid-19 pandemic that has emerged from the GST collection over the past four months. & # XD; & # xD; & # xD; & # xD; & # xD; & # xD; « If you see India’s foreign exchange reserves, India has foreign exchange reserves of more than $ 590 billion. This is its highest value ever. It is $ 119 billion from last year. And if you look at its external debt, it’s only. » 554 billion US dollars. Considering the foreign exchange reserves, India is now a net creditor, « said the minister. & # XD; & # xD; He said the GST collections suggest the economy is recovering as the government took the right steps to save lives and the economy too. & # XD; & # xD; The minister said India received the highest levels of FDI even during the Covid-19 era because of « decisive leadership ». & # XD; « India is back on its feet. The economy is experiencing a V-shaped recovery. And in January the total collection was 1.20 trillion rupees, » he told reporters at a press conference. & # XD; & # xD; Regarding the latest Union budget, Thakur said that apart from the opposition parties, all parts of the population had appreciated this. & # XD; & # xD; Thakur said the budget estimates for the current fiscal year were 30.42 trillion rupees, while for the next fiscal year they were increased by over four trillion rupees to 34.50 trillion rupees. & # XD; & # xD; He hoped India would become a $ 5 trillion economy in the next four or five years. & # XD; & # xD; The minister described the budget as « transparent » and explained the main features. & # XD; & # xD; In response to the divestment proposal from Rashtriya Ispat Nigam Limited (RINL), the steel mill in Visakhapatnam, Thakur, said the center would decide from time to time to divest shares in public sector companies based on recommendations from NITI Aayogs. & # XD; & # xD; He said many companies grew after the divestment and the center will try to speak to RINL stakeholders. & # xD;

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India now has foreign currency reserves of over $ 590 billion, the highest ever, up $ 119 billion from a year earlier, while external debt is $ 554 billion. This makes the country a « net creditor, » said Minister of State for Finance, Anurag Singh Thakur, here on Saturday.

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Speaking to media officials, he said the country was witnessing a V-shaped recovery from the Covid-19 pandemic that has emerged from the GST collection over the past four months. & # XD;

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« If you see India’s foreign exchange reserves, India has foreign exchange reserves of more than $ 590 billion. This is its highest value ever. It is $ 119 billion from last year. And if you look at its external debt, it’s only. » 554 billion US dollars. Given the foreign exchange reserves, India is now a net creditor, « said the minister.

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He said the GST collections suggest the economy is recovering as the government took the right steps to save lives and the economy.

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The minister said India received the highest levels of FDI even during the Covid-19 era because of « decisive leadership ».

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Dear Reader,

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« India is back on its feet. The economy is experiencing a V-shaped recovery. And in January the total collection was 1.20 trillion rupees, » he told reporters at a press conference.

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With USD 590 billion in foreign exchange reserves in Kitty, India is now a net creditor: MoS Thakur
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