India Not At Risk Of Getting Into Recession: FM Nirmala Sitharaman

Bengaluru: According to Union Finance Minister Nirmala Sitharaman, while many developed economies are on the edge of recession, there is absolutely no chance that India would experience one.

However, Sitharaman argued that we should not be complacent because India has set a target year of 2047 for becoming a mature and sophisticated economy.

She claimed that while there is no recession, India’s current ranking as the fifth largest economy in the world and if it has to reach the third position and so on then it is not possible if we sit on this comfort factor that there is no recession.

She claimed that the Indian government had boosted investment in infrastructure from 4 lakh crore rupees in 2019 to 10 lakh crore rupees currently.