No panic situation, fundamentals of Indian economy strong: Javadekar

Union Minister Prakash Javadekar on Sunday said the fundamentals of the Indian economy are strong and there is no "panic situation" in the country.

He also said sometimes a slowdown is a cyclical process, and such a patch" will not hurt the country's progress rate.

Responding to questions on the economy, slowdown and unemployment at a press conference to mark 100 days of the Modi government, he said "world over, there is a slowdown which also impacts markets here and people's behaviour changes".

"Therefore, we should not be worried too much. The government is responding with whatever actions are immediately necessary. This is a temporary phase and not a direction of a real slowdown," he said.

The NDA government led by Prime Minister Narendra Modi has completed 100 days after coming to power for a second consecutive term with a massive mandate.

The information and broadcasting minister also downplayed criticisms by Congress leader Rahul Gandhi, who on Sunday said there was a glaring ...