Amid fears of an economic slowdown in the country, Arun Jaitley, Union Finance Minister, today said that the government has taken note of the indications and it will take additional moves, if necessary for the revival. Jaitley said this while announcing decisions taken during the Narendra Modi Cabinet meeting today.
Several experts, including BJP MP Subramanian Swamy, have warned of an impending economic slowdown recently. The fears gained more ground after the GDP in the last quarter slumped to 5.7 per cent.
The Cabinet meeting on Wednesday took place in the wake of rising fears of economic slowdown. On Tuesday, PM Modi was scheduled to take stock of the economy in a meeting with the Finance Minister Jaitley, Chief Economic Adviser Arvind Subramanian and other top officials. However, it was postponed as the ministry was reportedly preparing “comprehensive presentation on the reasons for slowdown and remedial measures it proposes,” PTI reported. Jaitley on Tuesday had also reviewed the state of economy in a meeting with top officials.