Former President Pranab Mukherjee said that he was not worried over the economic slowdown on Wednesday as “certain things” that are happening would have its impact
Mukherjee, further said there is nothing wrong in public sector banks needing capital infusion.
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“I am not worried over the slow rate of GDP growth in the country. Certain things happening will have its impact,” he said while addressing an event at the Indian Statistical Institute (ISI).
He said Indian banks showed resilience during the financial crisis in 2008.
“I was the finance minister then. Not a single public sector bank had approached me for money,” he said.
Now, the public sector banks need massive infusion of capital and there is nothing wrong in it, Mukherjee added.
He also said that dialogue is important in a democracy to solve problems.
“Dialogue is inevitable,” he said.
He further said sanctity of data is equally important in a democracy.
“Sanctity of data should be kept intact. Else, it will have disastrous impact,” he said.
He also said “I am happy that some functions are still being carried on by the Niti Aayog.”
(With Agency Inputs)