What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
NEW DELHI: On Monday, Union finance minister Nirmala Sitharaman said in Lok Sabha that there is no question of India slipping into recession or stagflation.
“I would like to say there is no question of India getting into stagflation or, what it is called in the USA, a technical recession. There is absolutely zero probability of India slipping into recession,” Sitharaman said.
She was replying to the debate on price rise in the Lok Sabha.
Hitting out at the opposition members for only focusing on the political angle of price rise, Sitharaman said that since the discussion from the opposition benches only focused on the political angle, her response will also be a little political.
“Without undermining some of the points that many members have said, I find it was more a discussion on political angles of price rise rather than actually data-driven concerns about price. So, I too will try to reply a little politically,” she said.
Speaking about the health of the banking sector, Finance Minister Sitharaman said that at a time when about 4000 banks in China are facing bankruptcy, NPAs of Indian banks are at a six-year low of 5.9 per cent.
Countering the opposition narrative about inflation, Sitharaman said that despite not so good global economic scenario, the government has successfully controlled inflation at 7 per cent or below. She also added that there has been a revision to growth forecast by global agencies but India still remains the fastest growing economy.
In the morning, the opposition members had disrupted the House and Lok Sabha was adjourned till 2 pm.
Slamming the opposition for politicising the decisions of the GST Council, FM Sitharaman said that the decisions of the GST Council are reached after multiple levels of meetings which have representation from various opposition-ruled states.
