Recession knocking at the door of Indian economy, says West Bengal Finance Minister Amit Mitra

Expressing concern over the slump across various sectors, West Bengal Finance Minister Amit Mitra on Saturday predicted a deep recession knocking at the doors of the country's economy.

Mitra said the masses are stressed out, with GDP growth hovering at its lowest ebb in five years, and manufacturing, capital goods and index of industrial production all coming under pressure.

Mitra, who was Secretary General Federation of Indian Chambers of Commerce and Industry before joining politics, alleged that the Narendra Modi government was harassing industrialists.

"Businessmen are becoming NRIs. The fear is making them leave the country, " he said.

"The budget had no major steps to speed up growth... nothing is being done by the Finance Ministry," he added.