New Delhi, June 13 -- Maharashtra Chief Minister Devendra Fadnavis on Friday brushed aside concerns over an economic slowdown, saying India has the capacity to repay 94 per cent of its foreign debt in a single day if required.

Addressing a press conference to mark Prime Minister Modi's 12 years in office, Fadnavis said, "There was a period when people used to say that unless the IMF and World Bank came to India's rescue, the country would collapse because it did not have enough money to repay its foreign debt," as quoted by PTI.

Contrasting this with the present, he noted, "Today, if required, India has the capacity to repay 94 per cent of its foreign debt in a single day."

He added that foreign exchange reserves now cover nearly 11 mo...