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PM Modi forms Economic Advisory Council amid growing concerns over slowdown

Economists have called for the expansionary fiscal policy to stimulate consumer demand in India

Reuters  |  New Delhi 

Prime Minister Narendra Modi has set up an economic advisory council, the government said on Monday, as concerns grow about a slowdown in Asia's third-largest economy. The new council, headed by Bibek Debroy, a member of Modi's federal think tank Niti Aayog, will address "issues of macroeconomic importance" and present its views to the prime minister, the government statement said. A few quarters ago, India was the world's fastest-growing major economy. But data showed last month that India's economic growth had slowed to a three-year low, prompting ...

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First Published: Mon, September 25 2017. 21:04 IST