New Delhi, Sep 10 (TIWN) Dispelling all doubts about the slowdown in economy, Union Information and Broadcasting Minister Prakash Javadekar on Sunday explained it was only a "cyclical process" and the fundamentals of the economy continues to remain "strong".

“There is no situation of panic…Our economy is strong. Sometimes slow down is a cyclic process, fundamentals of Indian economy so strong, not being disturbed,” Javadekar said at a press briefing on the Narendra Modi government completing 100 days in its second term.  The gross domestic product (GDP) numbers, released last week, showed that growth was at 5%, a six-year low. GDP growth has been declining for five consecutive quarters now.  The Union minister said that the global slowdown and sentiments impact domestic markets but reforms undertaken recently through changes in rules were likely to boost growth in the coming days and help achieve $ 5 trillion economy target.