Union Finance Minister Arun Jaitley on Tuesday said that India has remained as the world's fastest growing economy for the past three years, thus maintaining very strong economic fundamentals with progressive growth story.
"There are strong macroeconomic fundamentals," Finance Minister Arun Jaitley said while addressing a media conference.
"We will report on the situation as they develop. A lot of internal meetings on the state of economy internally within the ministry were held. Discussions were also held with the prime minister. But India has remained one of the fastest growing economies in the world," said Jaitley.
"When results of the GDP of the first quarter came out then I had said that we will be ready for the response," said Jaitley while adding that there have been a lot of discussions and reviews of the economy in the past few weeks within the ministry.
Adding to this, Jaitley said that government has decided on the steps needed to sustain the growth momentum.
The conference comes after several meetings between the ministry and the Prime Minister over the past few months on supporting banks while they are burdened with worsening of the bad loan mess.
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