Kejriwal expresses concern over reports of 'economic recession'

Chief Minister Arvind Kejriwal on Friday expressed "grave concern" over reports of an economic slowdown in the country and said that his government will cooperate with the Centre to deal with the issue.

"Reports in the media of economic recession is a matter of grave concern. I have absolute faith that the central government will take strict measures on it. Whatever steps are taken by the Centre, Delhi government will cooperate to overcome the recession," he told media here.

Kejriwal's comments came after several leaders in the industry expressed concern over the slumping demand of goods, particularly in the automobile sector.

In a bid to boost the economy, the government on Friday announced a slew of measures including the rollback of a controversial tax surcharge on foreign portfolio investors (FPIs) and equities of domestic investors.

Finance Minister Nirmala Sitharaman has also announced some reliefs including deferring higher registration fees for the beleaguered automobile sector.