India In Focus - INDIAN ECONOMY: OVERVIEW, GROWTH and DEVELOPMENT - Govt withdraws surcharge on long, short term capital gains.


Union Finance Minister Nirmala Sitharaman is addressing a press conference amid concerns over the on-going economic slowdown in the country. This development came after Moody's Investors Service on Friday cut India's GDP growth forecast for 2019 calendar year to 6.2 percent from the previous estimation of 6.8 percent. For 2020 calendar year, it reduced the estimate by a similar measure to 6.7 percent.

There are concerns around the declining GDP growth too, which is a sign of worry for the government. The GDP growth has gone down from a peak of 8.2 percent in 2016-17 to 5.8 percent in the fourth quarter of 2018-19. The first quarter of 2019-20 is expected to dip further to 5.6 percent.

Though Nirmala Sitharaman had earlier declined to comment on the speculations of a stimulus package, she has been meeting industry...

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