There is economic slowdown, but no signs of recession: FM Sitharaman

The finance minister touched upon the difficulties in meeting the fiscal deficit, and indirectly signalled a fiscal slippage for the year

Finance Minister Nirmala Sitharaman on Wednesday defended her handling of the economy, saying steps taken by the government since the Union Budget presentation had started bearing fruit and some sectors such as automobiles are showing signs of recovery. The minister added that while economic growth had slowed in the past few quarters, the country was not undergoing a recession.

“Every step being taken is in the interest of the country. Looking at the economy in discerning view, you see that growth may have come down, but it is not a recession yet and it won’t be a recession ever,” she said