Union Minister Ravi Shankar Prasad has said that the Indian economy was in good shape since three films namely War, Joker and Sye Raa had collected Rs 120 crore at the box office in a single day.
Speaking to reporters, Prasad said, “On 2nd October, 3 movies were released. Film trade analyst Komal Nahta told that the day saw earning of over Rs 120 crores, a record by 3 movies. War, Joker and Sye Raa. The economy of the country is sound, that is why there is a return of Rs 120 cr in a day.”
#WATCH Union Minister Ravi Shankar Prasad in Mumbai: On 2nd October, 3 movies were released. Film trade analyst Komal Nahta told that the day saw earning of over Rs 120 crores, a record by 3 movies. Economy of country is sound, that is why there is a return of Rs 120 cr in a day. pic.twitter.com/fHpTqZJg4w
— ANI (@ANI) October 12, 2019
Prasad’s comments denying the economic slowdown in India came days after the Moddy’s lowered its growth forecast for the country to 5.8% from 6.2 % earlier. It said that the Indian economic slowdown was experiencing a pronounced slowdown which is partly related to long-lasting factors.
Meanwhile, the World Bank too has slashed India’s growth rate prediction to 6%. In 2018-19, the growth rate of the country stood at 6.9%.
Earlier, the Asian Development Bank and the Organisation of Economic Co-operation and Development too had lowered their forecast for 2019-20 for India to 6.5% and 5.9%, respectively.
In August this year, the Centre’s Narendra Modi government faced a real crisis in its hands after the GDP data for the first quarter of the financial year 2019-20 showed the economy grow by just 5%. This was less than 5.8% quarterly growth registered in the last quarter of the previous financial year and 8% that the Indian economy registered in the first quarter of the last financial year.