Growth slow but no recession: Sitharaman
Wednesday - November 27, 2019 6:18 pm ,
Category : BUSINESS
New Delhi, Nov 27 (IANS) Even though the gross domestic product (GDP) growth might have slowed, the country had not entered a recessionary phase, said Finance Minister Nirmala Sitharaman in Parliament on Wednesday.Speaking in the Rajya Sabha during a debate on the state of economy, Sitharaman said the economy needed a lot of support and every step taken by the government was for its development.Regarding the high NPAs (non-performing assets) in the banking sector, she said it started increasing after the lenders begun recognising bad loans. Provisioning for bad loans didn't mean "writing-off" these NPAs, she added.
--IANS rrb-rv/vd/pcj
--IANS rrb-rv/vd/pcj
