'Recession Might Hit India After June': Union Minister Narayan Rane

Union Minister Narayan Rane has said that recession might hit the world after June, but PM Modi and the government were working to ensure that it doesn't impact the people of India.

Union Minister Narayan Rane has said that recession might hit the world after June, but PM Modi and the government were working to ensure that it doesn't impact the people of India.

Source : PTI

Union Minister of Micro, Small and Medium Enterprises Narayan Rane on Monday said that recession might hit the world after June. He said the Centre is making efforts to ensure that it doesn't impact the people of India.

“There is a global recession and it is in many countries. This is what I have gathered from the discussion in the meetings of the Union government. The recession is expected to hit India after June,” he was quoted as saying by The Indian Express.

"It's a fact that currently, recession is being faced by various developed countries. It's expected that recession might come after June. Centre and PM Modi are making efforts to see that recession doesn't hit the citizens of the country," Rane was quoted as saying by ANI.

Narayan Rane was attending a two-day G20 Infrastructure Working Group (IWG) meet in Pune, Maharashtra.

Rane announced that efforts are being made to bring industries that can create jobs to the area. He also highlighted Pune's rich legacy while inaugurating the two-day G20 IWG meeting. Rane emphasized that the G20 meeting is crucial for long-term and sustainable economic growth.

India is currently holding the G20 presidency from December 1, 2022 to November 30, 2023. As many as 65 delegates from IWG member countries, guest nations, and international organizations will attend the meeting in Pune to discuss the 2023 Infrastructure Agenda under India's G20 presidency.

“Many developed countries are taking part in it. We also want to be a developed country. We are proud of our Prime Minister. In the last eight years, our country has successfully garnered the attention of various nations for development in infrastructure and other areas,” Rane said.

The meeting in Pune is being organised by the Department of Economic Affairs, Ministry of Finance, and Government of India, with Australia and Brazil as co-chairs. The theme of the meeting is "Financing Cities of Tomorrow: Inclusive, Resilient, and Sustainable."