Govt working on more measures to boost economy, says Nirmala Sitharaman

GDP growth slowed to an over-six-year low of 4.5 per cent in the second quarter of the current fiscal year, from 5 per cent in the first quarter.

Union Finance minister Nirmala Sitharaman | Photo: Suraj Singh Bisht | ThePrint

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said the government is working on more measures to revive the sagging economy.

The GDP growth slowed down to more than six-year low of 4.5 per cent in the second quarter of the current fiscal from 5 per cent recorded in the first quarter.

The government has taken several measures during August and September to boost the economy, she said at the HT Leadership Summit here.

Besides, she said, the public sector banks have disbursed nearly Rs 5 lakh crore in the last two months to boost consumption in the hinterland.

“So there are ways in which for giving stimulus for consumption. We are adopting a direct method and also the method through which we are spending on infrastructure, whose spill over can go to core industries labour and so on,” she said.

Asked if there could be more measures announced to bolster economic activity, she said, the government is working on more.

On the Goods and Services Tax (GST) the Finance Minister said, the rate structure will have to be decided by the GST Council.

Eventually, the rates have to be rationalised, she added.