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Indian economic slowdown drags: Experts say only big bang reforms will help

Data due Friday is expected to show gross domestic product growth slowed for a fifth straight quarter to 5.7 per cent in the three months ended June

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Vrishti Beniwal | Bloomberg
India’s prolonged consumption slowdown and a deteriorating global environment are delaying a recovery in Asia’s third-largest economy, nudging its government into action to supplement the central bank’s monetary stimulus.

In a spate of announcements within the space of a week, the government eased foreign investment rules, gave concessions on vehicle purchases and encouraged banks to make loans cheaper to spur growth from a five-year low. It also secured more fiscal space to stimulate the economy with a windfall from the central bank in excess of $24 billion.

Data due Friday is expected to show gross domestic product growth slowed for

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First Published: Aug 30 2019 | 6:43 AM IST

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