FM Sitharaman says investor sentiment not dampened by Delhi violence, anti-CAA protests

Union Finance Minister Nirmala Sitharaman has asserted that investor sentiment has not dampened after the anti-CAA protests and the Delhi violence. She had interacted with representatives of trade and commerce in the premier city of NE. The investors she met in her recent visit to Saudi Arabia expressed willingness to invest more in India, she said at a press conference in Guwahati on Thursday, February 27. Sitharaman said: “The sentiment of foreign investors has not been dampened.” Sporadic violence was reported from riot-hit areas in north-east Delhi, even as an eerie calm prevailed across the neighbourhoods in Jafrabad, Maujpur, Chand Bagh, Gokulpuri and surrounding areas, with the death toll reaching 43 .Meanwhile, eight  core industries recorded a 2.2 per cent growth in January helped by expansion in the production of coal, refinery products and electricity, official data released on Friday reveal. The infrastructure sectors had expanded by 1.5 per cent in January 2019. The production of coal, refinery products and electricity grew by 8 per cent, 1.9 per cent and 2.8 per cent, respectively. Sectors which recorded negative growth during the month under review are crude oil, natural gas, and fertiliser. During the April-January period, core industries growth slowed down to 0.6 per cent against 4.4 per cent in the year-ago period. The eight core sectors recorded negative growth from August 2019 to November 2019. Meanwhile, State Bank of India Managing Director Dinesh Kumar  Khara says Slowdown in the Indian economy has bottomed out and measures taken by the government in the recent budget to improve capacity to spend in rural sector, infrastructure creation and inviting foreign investments will boost growth, Khara told PTI that for India to achieve its ambition of becoming a five trillion dollar economy, it required a 10-11 per cent growth rate. India’s economic growth slipped to hit an over six-year low of 4.5 per cent in July-September 2019.He underlined that several initiatives and measures have been taken by the government to attract investment into the economy, including a reduction in tax rates, terming it a “landmark decision” that will go a long way in attracting investment from overseas.