Finance Minister Nirmala Sitharaman during a price rise debate in Parliament said there is "absolutely zero probability of India slipping into recession" or stagflation. "Pandemic, [COVID-19] second wave, Omicron, Russia-Ukraine (war)...in spite of [all this], we've held inflation within 7% or below. That has to be recognised," said Sitharaman. The Indian economy has recovered admirably, she said.