FM frets over factory output fall

“IIP has come down…Questions have been raised,  have we entered into recession, have we entered into a phase where the economy is going to be derailed, have we entered into a situation where we cannot improve the situation and move ahead.

These perceptions are not true” he asserted replying to discussions on Appropriation Bill in the Rajya Sabha. 

He, however, said that recession in Europe was steering at India’s face and  the country cannot be insulated from its adverse impact. “I do hope that the measures taken by the European leaders will resolve the crisis and it won’t go beyond the affected countries,” Mukherjee said.