Zero probability of India slipping into recession or stagflation: FM

Finance Minister (FM) Nirmala Sitharaman has asserted that there is an absolutely zero probability of India slipping into recession or stagflation. Stressing that the government has managed inflation well and kept it within seven per cent despite Covid-19 pandemic and various global headwinds, the finance minister stated that the Indian economy is in a much better position than its peers. India’s economic fundamentals are strong and the country has sufficient foreign exchange reserves, she added. Amid concerns over the depreciation in the value of the Indian rupee against the US dollar, Sitharaman asserted that there is no collapse of the unit and it is finding its natural course.