India's growth may have dropped, but not recession yet: FM

28 Nov '19

1 min read

Indian finance minister Nirmala Sitharaman. Pic: PIB

Finance minister Nirmala Sitharaman strongly defended the state of the Indian economy yesterday in parliament upper house (Rajya Sabha) and assured that the government is taking steps in the interest of the country. Blaming the United Progressive Alliance (UPA) for continuing with ‘regressive measures’, she said growth may have come down but it is not recession yet.

"We are coming out with a lot of reforms and we want to assure the members of the response of the government. The PM himself is giving personal attention with all the time to understand the details to take decisions so that the economy can be better and move to a higher growth trajectory," Sitharaman told the Rajya Sabha.

She said the government has unveiled 32 measures to revive growth since her July budget and those steps were yielding results.

Comparing the economic report card of the UPA and the Narendra Modi-led Bharatiya Janata Party (BJP) government since 2014, she said inflation is below the targeted range and economic growth and other macroeconomic indicators under the present government is much better, India media reported.

Fibre2Fashion News Desk (DS)

More Ministry of Finance News... More Textiles News - India...