Indian Finance Minister Nirmala Sitharaman recently said the country is on a strong wicket compared to others and is responsive in terms of extending hand-holding to the required sections. She is hopeful of a double-digit growth in gross domestic product (GDP) in this fiscal. Citing reports, she said the country has nil chance of slipping into recession.
“We are literally the fastest growing economy,” she emphasised, saying she did consider the fact that much more developed economies comparable with India are on the verge of recession.
“I hope for (double-digit growth). We will work for it… So if you’re not on the verge of recession, it also gives me the confidence that if you are constantly responsive in terms of the sections which need hand-holding, in terms of the boost that we have to give to the economy…” she was quoted as saying.
Recent figures released by the government indicated that India saw 13.5 percent GDP growth in the first quarter of this fiscal. It was 20.1 percent a year ago.
