India will not slip into recession, stagflation – minister
10:53 am Monday, August 01st, 2022
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.
(Reporting by Aftab Ahmed and Shilpa Jamkhandikar; Editing by Andrew Heavens)
