Government’s Road Map for Boosting Economy

Union Finance Minister announced a slew of measures on 23rd August to stimulate the slowing economy.

State of the Economy

  • India’s GDP growth in January-March slid to a near five-year low of 5.8% and the growth in April-June quarter is expected to falter even further.
  • Domestic passenger vehicle sales, a key economic indicator, plunged an annual 31 per cent in July - the steepest recorded pace of decline in nearly two decades.
  • Companies have already started to cut their workforces. The auto sector alone has laid off about 350,000 workers since April.

Steps Announced to Contain the Sliding Economy

In ....

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