India will not slip into recession, stagflation: Minister
People shop for an air conditioner inside an electronics store in Mumbai, India, on May 19, 2022.
PHOTO: Reuters
PUBLISHED ONAugust 02, 2022 1:45 AM
NEW DELHI- India will not slip into recession or stagflation, Finance Minister Nirmala Sitharaman told parliament on Monday (Aug 1), 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 per cent since January, fuelled by rising commodity prices and the war in Ukraine.
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