New Delhi: The government is on target due to the slowdown in the country's economy. The opposition is targeting the government as incompetent. The government says that there is a slowdown in the economy due to external reasons. If we talk about the world, then the Australian economy is also eating these days. The pace of India's annual economic growth has managed to avert the recession for nearly 28 years, but the data released on Wednesday has raised concerns about the country's economic outlook.
The country's central bank lowered the main interest rate to a record one per cent on Tuesday due to a weak buying sentiment by customers. Has come to the lowest level of a decade. According to data released on Wednesday, Australia's GDP growth for the year ended June was just 1.4 per cent. Australia considers the period from July 1 to June 30 of the following year to be a fiscal year.
According to data from the Australian Bureau of Statistics, the country's economy grew by just 0.40 per cent in the April-June quarter. Analysts believe banks may cut interest rates in the coming months to boost the economy. However, the PM believes that the situation is under control.