Economic Indicators
India will not slip into recession, stagflation – minister
2022.08.01 18:01
FILE PHOTO: People shop for an air conditioner inside an electronics store in Mumbai, India, May 19, 2022. REUTERS/Francis Mascarenhas
NEW DELHI (Reuters) – India will not slip into recession or stagflation, Finance Minister Nirmala Sitharaman told parliament on Monday, after opposition parties raised concerns about rising inflation and its impact on the economy.
India’s inflation has remained above its central bank’s upper tolerance limit of 6% since January, fuelled by rising commodity prices and war in Ukraine.
