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Finance Minister Nirmala Sitharaman said on Sunday that despite the ongoing tension in West Asia, India is growing rapidly and remains the fastest economy in the world. Speaking at Bharatiya Janata Party’s ‘Vikas Bharat’ programme, Finance Minister Sitharaman said that it is not the central government which is claiming that India is the fastest growing economy in the world, but the Gross Domestic Product (GDP) figures themselves are pointing in the same direction.

He further said that the International Monetary Fund also considers India as the fastest growing economy among the major economies. On the statement of opposition leader Rahul Gandhi, Sitharaman said that Congress leaders are continuously criticizing the economic performance of the country, while on the other hand, India remains the fastest growing economy every quarter and every year.

He further said that the leader of opposition in Lok Sabha, Rahul Gandhi keeps saying that some big economic disaster is going to come, but no such disaster is going to come for India. The Union Minister said that the Congress leader’s repeated criticism could create a wrong perception in the minds of citizens about the economic condition of the country.

Union Minister Sitharaman said, “The leader of the opposition (Rahul Gandhi) and his party try to make people believe that India is in trouble. Yet, despite the crisis in West Asia and disruptions around the Strait of Hormuz, India continues to move forward.”

Talking about the impact of geopolitical tensions on fuel supply and global trade, he said the challenges are not limited to fluctuations in crude oil and LPG prices.

He said, “These challenges not only impact the prices of crude oil and LPG, but also global shipping. Shipping companies hesitate to send their ships from conflict areas.

Insurance premiums increase due to the risk of attacks on ships. Whether the ship is empty or loaded with crude oil, the cost of insurance increases significantly and ultimately this expense has to be borne to ensure supplies to the country.”

He further said, “Despite these global challenges, the Narendra Modi government has continued the supply of petroleum products without any interruption.”