Finance Minister Nirmala Sitharaman addressed a press conference to talk about the growing concerns over the economic health. Asked if the Centre acknowledges the fall of GDP figures, job losses as an economic slowdown, Sitharaman skirted the question and engaged in an argument with reporters.
On Sunday, asked about the slowdown, Nirmala Sitharaman replied saying, “The government has been in consultation with a lot of sectors. In some sectors the inventory is piling up. We have heard them and announcements were made on August 23. Last Friday also we made some announcements.”
On Friday, Sitharaman announced the biggest merger of nationalised banks and reduced the number of state-owned banks from 27 to 12.