Business Educational Legal Legislature Nation Women

No question of India going into recession, says Nirmala Sitharaman

New Delhi : Union Finance Minister Nirmala Sitharaman on Monday stated that India continues to remain the fastest growing economy in the world. The cabinet member made this statement as part of her speech in the Lok Sabha while discussing inflation.

Sitharaman claimed that despite the pandemic, the Indian economy has been growing.

“The same was also observed by the World Bank, the International Monetary Fund (IMF) each time they reevaluated global trade and global GDPs. India’s GDP might at times have dipped from 8.2% to 7.2% as a result of the pandemic. But it has consistently remained the fastest growing economy,” said Sitharaman.

She further said that irrespective of party differences, everyone should feel proud of the country and its people.

The speech was made amid constant protests from opposition parties in the Lok Sabha.

“The GDP of the United States fell 0.9% in the 2nd quarter, followed by a 1.6% in the first quarter marking what they call an “unofficial recession. However, I would like to inform that there is no question of India going into recession or stagflation,” she said.