More measures soon to boost economy, says FM

More measures soon to boost economy, says FM

Agency News

Guwahati, Aug 29: Finance Minister Nirmala Sitharaman today said the government would announce more measures to boost the economy in the coming week. At a press conference here, Sitharaman said  consumption needed a boost. “Spending on infrastructure will be a priority, and government spending will be further enhanced in coming months,” she said after holding a review meeting of the Income Tax and GST officials here. Interactions with the industry bodies and stakeholders were going on.

Sitharam, however, refuted the claims that the country was facing economic slowdown and said that India was still the fastest growing economy in the world. She also listed various measures taken to revive the demand in the automobile industry and added that shortly more steps would be taken in other sectors also to boost consumption. Asked if Indian economy was facing a slowdown. She replied,” I can’t say now.”.

It may be mentioned here the prime indicators of Indian economy like IIP, core sector growth, industrial production is showing signs of weakness and to boost the economy last week the government announced a slew of measures in various key sectors. Earlier in the day, the Finance Minister had a taxation review meeting of North Eastern States. This is the fifth meeting she had held in matters related income tax of small, big and medium enterprises. (UNI)