Despite Covid crisis, Indian economy growing at 7 to 8%: Union Minister Dharmendra Pradhan

Hyderabad: Though several developed economies suffered badly due to the Covid crisis, India continued to grow at 7 to 8 per cent during the last 10 years, Union Minister Dharmendra Pradhan said on Friday.

In his keynote address at the Indian School of Business (ISB) here, Pradhan said India is set to surpass Japan and France and become the third largest economy in the world in the next three to four years.

"Several developed economies in the world suffered badly due to the Covid crisis. Still, we are thriving with a 7 to 8 per cent growth rate since last decade and we will continue to do that," he said.

The Minister of Education said India has a low corporate tax as Prime Minister Narendra Modi is very clear on not getting money to the exchequer by imposing more taxes, but more income in low slabs.

He further said 46 per cent of the global digital payments are happening in India even as 25 crore people have been out of the poverty line.