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Indian finance minister expresses confidence in pulling through slump in economy

(Xinhua)

18:56, December 13, 2011

NEW DELHI, Dec. 13 (Xinhua) -- Indian Finance Minister Pranab Mukherjee Tuesday expressed confidence in India's ability to pull through the current slump in the economy, after the country's industrial output growth rate dropped to below zero.

Pranab told the Indian Upper House of Parliament that the slowdown in India's economy was a result of the eurozone financial crisis, from which, India had no way to remain unaffected, according to local daily The Times of India electronic edition.

"India has capacity, resilience to overcome economic crisis. We have the resilience and the economy has the capacity," he said.

Government data showed October's industrial production fell to minus 5.1 percent, as against 1.9 percent in September.

 
 
 
 
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