Amid fears of an economic slowdown in India, Union finance minister, Arun Jaitley, on Wednesday said that the government has taken a note of the indications and it will take further steps if needed for the revival. He said this while announcing decisions taken during the Narendra Modi Cabinet meeting on Wednesday.
Of late, several experts, including BJP MP, Subramanian Swamy, had warned of an impending economic slowdown in the country. The fears had gained more ground after the GDP in the last quarter slumped to 5.7%.
The Cabinet meeting on Wednesday took place in the wake of rising fears of economic slowdown.
On Tuesday, PM Modi was scheduled to take stock of the economy in a meeting with Jaitley, Chief Economic Adviser, Arvind Subramanian and other top officials. However, it got postponed as the ministry was reportedly preparing “comprehensive presentation on the reasons for the slowdown and remedial measures it proposes,” PTI reported.