New Delhi: Finance Minister Nirmala Sitharaman on Monday said India is not facing any risk of recession and cited robust GST collections and Purchasing Managers’ Index (PMI), a measure of trends in manufacturing, to stress that the economy’s fundamentals are strong.
In nearly a two-hour long reply to a debate on the price rise in Lok Sabha, Sitharaman said that the country is doing better than its peers and “there is no question of India getting into recession or stagflation or a technical recession like the US,” she said, citing reports of some global agencies.
The minister said that the GST collection rose to 28% to touch the second-highest level of Rs 1.49 lakh crore in July after having touched a record high of Rs 1.68 lakh crore in April 2022.
This story is from the August 02, 2022 edition of The Times of India Mumbai.
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This story is from the August 02, 2022 edition of The Times of India Mumbai.
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