Nagpur: Speaking on the current state of the economy, Union Minister Nitin Gadkari has said that it is a difficult phase and it will pass. Speaking on the occasion of the 65th Foundation Day of Vidarbha Industry Association, Nitin Gadkari said that the autotomobile sector need not be disturbed much, it is a difficult phase that will pass.

Gadkari said, "Recently I met automobile manufacturers at all India convention of automobile industry and all of them were little worried. I told them, Kabhi Khushi Hoti Hain Kabhi Gam Hota Hain (there are times of joy and times of sorrow), sometimes you succeed, sometimes you fail...life is a cycle."

He further said, " "I know the industries are going through a tough time now. We want to increase the growth rate... So in your life too, because of global economy, demand and supply, business cycles you face little problems sometimes. Even the (rest of the) world is facing this problem. So don't get disappointed, this time will pass."

Nitin Gadkari said, industrial production and fixed investment have increased after falling to a six-year low of five per cent in the first quarter. "The FDI (Direct Foreign Investment) proceeds have been tremendous and the foreign capital reserves have reached record levels," Sitharaman said. The fiscal deficit has improved and the current account deficit growth has stalled. Fixed investment has already improved. '

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