Varanasi, Aug 20 : Union Finance Minister Nirmala Sitharaman on Tuesday said that due to prominent policies of Narendra Modi government, the Indian economy was maintaining adequate pace, despite the worldwide recession.
After meeting bank officers, local traders and officers of the Customs, GST, Central Excise and Income tax departments, Ms Sitharaman said here the whole world is facing recession. ''It affected India also, but despite that, our economy is the fastest growing economy in the world,'' she underlined.
The Union Minister claimed that Modi government has taken prominent initiatives, which will show better results in the coming days. The agricultural system was strengthened and initiatives were taken to improve banking and industrial sectors, she noted.
In reply to a question on issues of 'Auto sector,' Ms Sitharaman said the government was observing issues of auto sector and steps were being taken to improve the situation. She claimed that most of the issues would be resolved soon.
She also inaugurated the GST App 'Sampark,' which would ease the functioning of GST. Several traders and trade union leaders have urged to simplify the norms of GST, to make the work smoother.