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Economy may have slowed, but there's no recession, and there won't be: FM

Replying to a discussion on the economic situation, Nirmala Sitharman reeled out numbers to compare UPA and NDA

Press Trust of India  |  New Delhi 

Union Finance Minister Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman | PTI

Finance Minister Nirmala Sitharman on Wednesday said the Indian economy may have slowed down but there is no threat of a

Replying to a discussion on the economic situation in the country in Rajya Sabha, she reeled out numbers comparison between five years under Congress-led UPA-II regime from 2009 to 2014 and BJP's first term from 2014 to 2019 to say inflation was lower and growth higher under the Modi government.

FDI inflows in 2009-14 were $189.5 billion and the same were $283.9 billion under BJP rule in the following five years, she said, adding foreign exchange reserves rose to $412.6 billion under BJP from $304.2 billion in UPA-II.

"Economic growth may have slowed but there is no recession, there can be no recession," she said.

First Published: Wed, November 27 2019. 17:45 IST