New Delhi: Union Finance Minister Nirmala Sitharaman admitted that the Indian economy is going through a difficult phase along with the world. There is a need to reflect on the slowdown in the economy and the reasons why it is happening. While releasing a book, Finance Minister Nirmala Sitharaman has said that after reading it, people will know exactly what are the reasons, which are being seen.

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Actually, India's growth rate reached the lowest level of six years in June. It was at the level of five percent. With the decrease in demand, due to the impact of private investment and trade war in the global markets, this was seen. The Reserve Bank of India, while reviewing the monetary policy in October, had reduced the growth rate to 6.1 percent from 6.9 percent. RBI had predicted that the growth rate would pick up in the second half of the financial year.

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The government had prepared a 25 thousand crore rupees fund for the reduction of corporate tax, capital investment in state-run banks and the real estate sector to reduce the slowdown in the market so that the economy can get a boost. The International Rating Agency has negatively credited India's credit rating outlook. This is considered as the first step towards reducing the credit. Even though Moody's said that the government has been partially successful in finding a solution to the economic weakness, but the risk of further downward growth has increased.

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