INSUBCONTINENT EXCLUSIVE:
ongoing economic slowdown.Speaking at the Hero Mindmine Summit that brings together industry and government to discuss economic policy, Mr
Subramanian said policymakers need to be careful while deciding on any fiscal stimulus as a way to boost economic growth."We can't expect
the government to intervene every time some sectors go through sunset
Not all sectors are doing bad, some are doing well," the CEA said.In his address at the event, former finance secretary Subhash Chandra Garg
echoed the CEA's views that there is no necessity of a fiscal stimulus for the economny at this juncture.Mr Garg also said the country's
gross domestic product (GDP) growth during the first quarter of the current fiscal year could be in the range of 5.5-5.6 per cent.The GDP
growth in the fourth quarter of the last fiscal year came in at 5.8 per cent caused by slowdown in key sectors like agriculture,
manufacturing and industry.Mr Garg's assessment is important as he was the Finance Secretary till July this year and was the top
bureaucrat in the ministry during most of the current slowdown that began last fiscal year.The former finance secretary also suggested
bringing down interest rates rather than giving any stimulus to the economy, adding that the recent surge in bond rates would hurt industry
Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
