GDP growth has going down for six consecutive quarters Since early 2016, slouching to a three-year low of 5.7 per cent in the April-June quarter
We have been captivating to take suitable actions ... we have been again and again moving on the improvement of agenda: Jaitley
NEW DELHI: Finance Minister Arun Jaitley on Wednesday said the government is making an allowance for additional measures to strengthen economy that has hit a three-year low of 5.7 per cent+ in the first quarter of the present fiscal.
The minister announced after consulting Prime Minister Narendra Modi the additional steps will be prepared.
Jaitley has held a series of meetings in the last few days with some of his ministerial contemporaries and senior government officials to get stock of the situation and firm up steps to move forward up growth+.
"We have taken note of all economic indicators which are available ... the government will capture any additional moves which are essential. I am not in a position to announce today in the press conference. I will be surely consulting the Prime Minister before that and when we decide, you will come to know," he told to reporters here.
He further said this is a practical government and has been acting in response to the situation as when the situation demanded.
Two years ago, India was touting as a unusual bright spot in a dark global economy, with GDP growth+ outpacing a slowing China.
But since early 2016, GDP growth has fallen for six consecutive quarters, slumping to a three-year low of 5.7 per cent in the April-June quarter, with India losing the highest growing economy tag to China for the second straight quarter.
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