Business Standard

Nationalisation of banks helped us escape recession, says Sonia

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BS Reporter Hyderabad

Congress President Sonia Gandhi today said that the country escaped the deep impact of the ongoing global recession because of the 1969 bank nationalisation by former prime minister Indira Gandhi.

“One cannot imagine what would have happened to the country if the banks had not been nationalised,” she said while addressing a public meeting here at the end of her two-day Andhra Pradesh tour. She said information technology also flourished in the country mainly due to the initiatives by Late Rajiv Gandhi.

 

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First Published: Mar 01 2009 | 12:39 AM IST

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