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December 2, 2020

The Economy is going through a tough time: Nirmala Sitharaman

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  • Speaking at the book launch program – questions related to sluggishness in the global economy are arising
  • ‘The book presents commendable solutions to the challenges of the economy’

Finance Minister Nirmala Sitharaman said on Sunday that in the Indian economy, we are facing challenges. She said this at the launch of the book titled ‘The Rise of Finance: Causes, Consequences and Cure’. Sitharaman said that this book would be very relevant for policymakers like us.

Book arrives at the right time: Sitharaman

Sitharaman said – This book has come when questions related to sluggishness are being asked in the global economy, questions are also being raised about the country’s economy. Commendable solutions to the challenges that the global and Indian economy are going through are given in the book.

The book has been written by V Ananta Nageswaran and Gulzar Natarajan. Nageswaran is the Dean of Cray University’s IMFR School and Business. Natarajan is the Senior Managing Director of the Global Innovation Fund.

The country’s GDP growth declined to 5% in the April-June quarter. This is the lowest in the last 6 years. Thereafter, international agencies are continuously cutting GDP estimates for the current financial year. The RBI also reduced it to 6.1% from 6.9% in October.

The government has taken several steps in the last few months, such as corporate tax cuts and the creation of a fund of Rs 25,000 crore for stuck housing projects, to give a boost to the economy.

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