US accounts for 18 per cent of Indian exports in FY24
The US accounted for 18 per cent of India's total exports in the financial year (FY) 24, as the country's exports to the world's largest economy continuously increased
After making a bizzare statement on the economic slowdown in the country yesterday, the Union Minister Ravi Shankar Prasad withdrew his statement on Sunday. He clarified that he made the comment in Mumbai, which is the film capital of India and provides employment to lakhs of people and contributes significantly by way of taxes.
Prasad on Saturday in Mumbai said that the Indian economy is doing well as three Bollywood movies in a single day managed to do business of Rs 120 crore. He was under fire right after the statement.
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“I was Information and Broadcasting minister in former Prime Minister Atal Bihari Vajpayee’s government and I am fond of movies. Movies have been doing huge business. Three movies were released on October 2 and film critic Komal Nahta told me that the national holiday saw them earning Rs 120 crore. Rs 120 crore comes in a country, which has a sound economy,” Prasad said on Saturday while addressing a press conference in Mumbai.
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Minister made a series of tweets in defense of his statement.
My comments made yesterday in Mumbai about 3 films making ₹120 Cr in a single day- the highest ever, was a factually correct statement. I had stated this as I was in Mumbai- the film capital of India. …(1/4) pic.twitter.com/RL62YhjpZt
— Ravi Shankar Prasad (@rsprasad) October 13, 2019
We are very proud of our film industry which provides employment to Lakhs of people and contributes significantly by way of taxes. …(2/4) pic.twitter.com/ohbFuBA5sq
— Ravi Shankar Prasad (@rsprasad) October 13, 2019
I had also explained in detail about various measures the Govt has taken as pro-people move to strengthen our economy. Govt of PM Narendra Modi always cares for the sensitivity of common people. …(3/4) pic.twitter.com/OpGwSIcD87
— Ravi Shankar Prasad (@rsprasad) October 13, 2019
Entire video of my media interaction is available on my social media. Yet I regret to note that one part of my statement has been completely twisted out of context.
Being a sensitive person I withdraw this comment. …(4/4) pic.twitter.com/VfesKb84T8
— Ravi Shankar Prasad (@rsprasad) October 13, 2019
Congress called the Minister’s remarks as ill-informed and insensitive. Senior Congress leader Jairam Ramesh took it to Twitter and said China has a different parameter for its economy.
In a recent report, the World Bank has also projected a slowdown in the Indian economy.
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