Consultation process on, govt to come out with more measures to boost economy: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman promised more measures from the government to revive growth and support to sectors facing stress.
We are taking a considered view on the sectoral challenges, Sitharaman said in Kolkata late on Friday after her meeting with tax administrators and local business bodies.
We are looking at the challenges which the sectors are facing. We will respond to the challenges and extend every possible help, Sitharaman said when asked about the economy.
India’s gross domestic product (GDP) growth dropped to 5% in April-June quarter, lowest in 25 quarters, triggering downgrades in the estimates for the full year.
Moody’s Investors Service has cut India’s gross domestic product growth rate to 6.2% for calendar year 2019 against its earlier projection of 6.8%. Local ratings firm CRISIL too has revised the country’s GDP projection for FY20 to 6.3% from 6.9%.