Delhi: The Indian government is facing mounting criticism for its role in the economic slowdown in India. Finance Minister Nirmala Sitharaman said the economy was recovering at this time. 'The retail inflation rate is under control and the inflation is still around 4 per cent,' he said. Inflation in August reached its highest level in ten months. Retail inflation for August was 3.21 percent. Nirmala Sitharaman said, 'The growth in fixed deposit growth is now on the back of most of the industries that were in crisis.'
Finance Minister Nirmala Sitharaman had earlier said there was no financial crisis and no job losses. Nirmala Sitharaman said that the propaganda about the economic crisis in the country was wrong. She said the widespread job losses were not propaganda.