Economy

India will soon emerge from the difficult economic situation: Rajnath Singh

PTI New York | Updated on December 18, 2019 Published on December 17, 2019

Rajnath Singh, Defence Minister   -  Rajeev Bhatt

Defence Minister Rajnath Singh has said that India is impacted to some extent by the global economic slowdown but expressed confidence that the country will come out of the difficult situation within a short time.

Singh, who arrived in the US on Monday for the 2019 US-India 2+2 Ministerial Dialogue in Washington DC on December 18, addressed members of the Indian community at educational organisation Asia Society here at an event organised by the Consulate General of India.

He said currently the world over, there is a talk of a global economic slowdown. “I also accept that there is global economic slowdown and India is also impacted by it to some extent. But I can say with full confidence that India will come out of this difficult situation in only few months’ time,” Singh said.

He said this was not a matter of big concern for India because the government has taken several major steps and announced economic packages to boost economic growth. “We can face and tackle the global economic slowdown only by increasing consumer demand,” he said, adding that the government has taken several structural and procedural reforms whose impact is now visible.

“Despite the global economic recession, India has not been impacted because as compared to other countries, India’s consumer demand is comparatively better. We will definitely come out of this difficult situation, he said.

Singh further said that this is not the first time that India is getting affected by the global economic slowdown.

Published on December 17, 2019
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