{"id":29229,"date":"2022-08-03T13:50:01","date_gmt":"2022-08-03T08:20:01","guid":{"rendered":"https:\/\/plyinsight.com\/?p=29229"},"modified":"2024-03-09T12:27:32","modified_gmt":"2024-03-09T06:57:32","slug":"no-question-of-recession-or-stagflation-in-india","status":"publish","type":"post","link":"https:\/\/plyinsight.com\/hi\/no-question-of-recession-or-stagflation-in-india\/","title":{"rendered":"No question of recession or stagflation in India"},"content":{"rendered":"

India is nowhere near a recession or stagflation and the government is making all efforts to bring down retail inflation below 7 per cent, Finance Minister Nirmala Sitharaman said.<\/span><\/strong><\/p>\n

\u201cThere is no question of India getting into recession or stagflation even though the US may have entered into an unofficial recession. Even as international agencies like the World Bank and the International Monetary Fund (IMF) have downgraded growth rates of economies, each time India has remained as the fastest growing economy,\u201d Sitharaman said in reply of a debate on\u00a0 inflation, in Parliament. \u00a0<\/span><\/strong><\/p>\n

\u201cA Bloomberg survey also recently said there is zero probability of India slipping into a recession. Our people have gone through the pandemic strongly, global value chains has hit us, but in spite of that, because of the various steps taken by the government and also by the Reserve Bank of India, we remain much better than most countries,\u201d she added.<\/span><\/strong><\/p>\n

Sitharaman said while 4,000 Chinese banks are reportedly on the verge of bankruptcy, gross non-performing assets of Indian commercial banks have declined to a six-year low of 5.9 per cent for FY22.<\/span><\/p>\n

Holding that India\u2019s economy is showing very positive signs and the economy\u2019s fundamentals remain strong, Sitharaman said GST collection in July was the second-highest ever at \u0930\u09411.49 trillion, remaining above \u0930\u09411.49 trillion for the fifth consecutive month.<\/span><\/p>\n

Sitharaman also referred to the recent statement of former RBI governor Raghuram Rajan. Rajan has said that the Reserve Bank has done a good job in increasing foreign exchange reserves and its situation will not be like that of neighboring countries like Sri Lanka. He has also said that according to Rajan there is inflation all over the world, in such a situation the Reserve Bank is increasing the repo rate, which will help in bringing down inflation.<\/span><\/p>\n

\"Surfactant \u00a0 \u00a0\u00a0 \"\"<\/p>\n

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\"\" \u00a0 \u00a0 \"Trikalp<\/p>\n

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India is nowhere near a recession or stagflation and the government is making all efforts to bring down retail inflation below 7 per cent, Finance Minister Nirmala Sitharaman said. \u201cThere is no question of India getting into recession or stagflation even though the US may have entered into an unofficial recession. Even as international agencies […]<\/p>","protected":false},"author":1,"featured_media":29235,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3333],"tags":[280,250,2999,3175,3173,3174,99,742,550,2998,739,3172],"class_list":["post-29229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-september-news-2022","tag-finance-minister","tag-gst","tag-gst-collection","tag-indian-gst","tag-nirmala-sithraman","tag-raghuram-rajan","tag-rbi","tag-rbi-governor","tag-recession","tag-repo-rate","tag-reserve-bank-of-india","tag-stagflation"],"yoast_head":"\nNo question of recession or stagflation in India - PLY INSIGHT<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/plyinsight.com\/hi\/no-question-of-recession-or-stagflation-in-india\/\" \/>\n<meta property=\"og:locale\" content=\"hi_IN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No question of recession or stagflation in India - PLY INSIGHT\" \/>\n<meta property=\"og:description\" content=\"India is nowhere near a recession or stagflation and the government is making all efforts to bring down retail inflation below 7 per cent, Finance Minister Nirmala Sitharaman said. \u201cThere is no question of India getting into recession or stagflation even though the US may have entered into an unofficial recession. 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