Growth may have come down but there isn't any recession: Sitharaman

Nirmala Sitharaman Photograph:( Reuters )

ANI New Delhi, India Nov 27, 2019, 09.59 PM (IST)

Finance Minister Nirmala Sitharaman on Wednesday admitted that growth may have come down but said it is not a recession yet.

She added that it will never be a recession ever in the country. In her address to Rajya Sabha, she said that India's real Gross Domestic Product (GDP) growth was at 6.4 per cent at the end of 2009-2014, whereas between 2014-2019 it was at 7.5 per cent.

Sitharaman said, "India's real Gross Domestic Product (GDP) growth was at 6.4 per cent at the end of 2009-2014, whereas between 2014-2019 it was at 7.5 per cent.

"The headline inflation in 2014 was 10.3 and in 2019 when the National Democratic Alliance (NDA) government concluded it was 4.5 only. The core inflation in 2014 was 9.4 and in 2019 was 5.1 only. The food inflation at 2014 was 11.2 and in 2019 just 3.5 only," she said.

"If you are looking at the economy with a discerning view, you see that growth may have come down but it is not a recession yet, it will not be a recession ever," she added.

Opposition MPs, however, walked out of Rajya Sabha during the Finance Minister's reply on the economic situation of the country. 

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Sitharaman said, "India's real Gross Domestic Product (GDP) growth was at 6.4 per cent at the end of 2009-2014, whereas between 2014-2019 it was at 7.5 per cent.