No recession in Indian economy: FM

NEW DELHI: Finance Minister Nirmala Sitharaman on Wednesday launched a spirited defence of her handling of the economy, comparing macroeconomic indicators with past Congress rules and said the growth may have slowed down but the economy will never slip into recession.

Replying to a short-duration discussion on the state of the economy in the Rajya Sabha, she said steps taken by the Government post her maiden budget have started bearing fruits and some sectors such as automobiles have shown signs of recovery.

Allaying concerns over revenue position of the Government, she said direct tax and GST collections have both seen an increase in the first seven months of the current fiscal when compared to the same period of the last year.

The Congress, the TMC and the Left parties, however, staged a walkout of the House saying she was reading out her budget speech rather than addressing issues facing the economy. (AGENCIES)