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FM Sitharaman press conference HIGHLIGHTS: Govt says reforms showing impact
CEA Krishnamurthy Subramanian said reform measures included corporate tax cuts to improve risk-return of companies
Finance Minister Nirmala Sitharaman. | Photo: PTI
Chief Economic Advisor Krishnamurthy Subramanian on Friday presented the steps taken by the government in the past few months to pull the economy out of a six-year period of low growth.
Subramanian said that the government is focusing on increasing consumption to boost economic growth and that measures included corporate tax cuts to improve risk-return of companies.
India’s economy grew at its slowest pace in over six years in the September quarter, held back by weak manufacturing, falling consumer demand and private investment, and a drop in exports due to a global slowdown.
The government earlier in December announced infrastructure projects as part of a plan to invest Rs 100 trillion ($1.39 trillion) in the sector. Later, it approved privatising state-owned oil major BPCL and Shipping Corporation of India, along with stake sales in three other companies