Government working on more measures to boost economy, says Nirmala Sitharaman

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Present at the HT Leadership Summit, Nirmala Sitharaman, Finance Minister shared that the NDA government is working on more measures to revive the sinking economy.

The GDP growth declined to over six-year low of 4.5 per cent in the second quarter of the present financial from 5 per cent recorded in the first quarter.

The government has taken various measures during August and September to uplift the economy, she further informed.

Besides, she mentioned, the private sector banks have spent about Rs 5 lakh crore in the last two months to increase utilisation in the hinterland.

“So there are ways in which for giving stimulus for consumption. We are adopting a direct method and also the method through which we are spending on infrastructure, whose spill over can go to core industries labour and so on,” she said.

Asked if there could be more measures announced to bolster economic activity, she said, the government is working on more.

On the Goods and Services Tax (GST) the Finance Minister said, the rate structure will have to be decided by the GST Council.

Eventually, the rates have to be rationalised, she added.