(News 18)
Union Finance Minister Nirmala Sitharaman on Wednesday launched a spirited defence of her handling of the economy, comparing macroeconomic indicators with past Congress governments and said the growth may have slowed down but the economy will never slip into recession.
Replying to a short-duration discussion on the state of the economy in the Rajya Sabha, Sitharaman said steps taken by the government post her maiden budget have started to bear fruit and some sectors, such as automobiles, have shown signs of recovery. “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 recession yet, it won’t be recession ever,” she said.
Allaying concerns over revenue position of the government, she said direct tax and GST collections have both seen an increase in the first seven months of the current fiscal when compared to the same period of the last year.
