With no major fiscal support, govt's growth measures seen falling short

Sitharaman ignored the auto industry's demand for a reduction of a goods-and-services tax on vehicles to halt the worst slump in car sales in almost two decades

India’s steps to boost financial market sentiment and support businesses could fall short of shoring up growth in Asia’s third-largest economy.

Finance Minister Nirmala Sitharaman announced a number of measures on Friday to help re-ignite an economy that’s slowed sharply on the back of weak consumption and a deteriorating global environment. However, she didn’t outline any major fiscal support -- as businesses had been calling for -- focusing instead on steps to spur foreign funds and lending.

Economists, finance leaders, industry executives and local media raised questions about the effectiveness of the measures, which included scrapping a tax on foreign funds, allowing