AMN / WEB DESK

Defence Minister Rajnath Singh has said that the Russia-Ukraine conflict along with Covid pandemic has impacted the world economy and it is going through a difficult phase.

He added the Government of India has initiated a number of steps to deal with these challenges and the results are visible. Addressing an event in his parliamentary constituency Lucknow in Uttar Pradesh Saturday, Mr. Singh said that due to the Government’s all-around efforts, the Indian economy is witnessing a V-shaped recovery.

He said surveys of various agencies have predicted that India will continue to grow as one of the fastest-growing major economies in the world. He added that our exports are continuously increasing and setting new records.

Mr Singh further said the gross GST revenue collection in April this year was the highest ever at Rs 1.68 lakh crore. He added that new investments are being made at the global and domestic levels which are expected to ease the pressure on the supply chain.

The Defence Minister also said, the Government is undertaking reforms in Research and Development establishments like DRDO and CSIR. He said a link has now been established between academia and the industry so that the research study being conducted in colleges and universities reaches the industry and both parties reap the fruits of progress.