Union Minister Ravi Shankar Prasad withdraws remarks on economic slowdown

He said the statement was 'factually correct'.

Prasad said he was taking back his statement as he was a “sensitive person”.

Prasad tweeted, "My comments made yesterday in Mumbai about 3 films making ₹120 Cr in a single day- the highest ever, was a factually correct statement. I had stated this as I was in Mumbai- the film capital of India."

"Entire video of my media interaction is available on my social media. Yet I regret to note that one part of my statement has been completely twisted out of context. Being a sensitive person I withdraw this comment," he said.

Ravi Shankar Prasad earlier said the economic state of India is absolutely fine or else there wouldn't have been a business of Rs. 120 crore at the Box Office on Oct 2, which is a national holiday on account of Gandhi Jayanti.

"I have been informed that on October 2, three Hindi movies garnered Rs. 120 crore business at the Box Office. Unless the economy is fine in the country how can only three movies earn so much return in a single day?" Prasad told mediapersons.

This comes as India has slipped 10 places in the Global Competitive Index to occupy 68th position out of 141 countries surveyed by the rankings.

Last year, India occupied 58th position in the index compiled by Geneva-based World Economic Forum (WEF).

In terms of market size and renewable energy India ranked third and second in terms of shareholder governance, it said.

India ranks 15th in the world in terms of corporate governance, it added,

Out of 141 countries, India has been ranked 109 in terms of healthy life expectancy.

Despite Prime Minister Narendra Modi’s flagship Skill India programme, India has ranked a poor 107 in the skill index.