Nirmala Sitharaman, India’s finance minister, stated on Monday that a recession or stagflation are not a possibility. ‘There’s no question of India getting into recession or stagflation. Zero chances of recession in India as per the Bloomberg survey,’ the finance minister spoke in Lok Sabha.
After weeks of unrest in Parliament over the topic of price increases, Nirmala Sitharaman spoke today in the Lok Sabha. According to the finance minister, India’s economy is among the fastest-growing and is superior to most other countries’ economies.
Adhir Ranjan Chowdhury asked a question, to which she responded, ‘I would like to say there is no question of India getting into stagflation or, what it is called in USA, technical recession. There is absolutely zero probability of India slipping into recession.’
‘It was actually a discussion on political topic rather than data-driven discussion. Around 30 MPs talked about price rise today. Most raised political angles rather than data-driven concerns,’ FM Sitharaman said.
She said that the government is attempting to control retail inflation, saying, ‘I fully credit the people of India … even against adversity we are able to stand up and be recognised as the fastest growing economy.’
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