Economic Measures to Boost Economy | 24 Aug 2019
Recently, the Finance Minister had announced a slew of economic measures, which not only seek to revive economic growth (through fiscal stimulus) but also promised to end tax terrorism.
- These measures were brought in the backdrop of the economic slowdown in India
- The slowdown was also reflected by the major international economic institution which downgraded India's growth forecast,
- For example, Moody’s Investors Service pared India’s growth estimate from 6.8% to 6.2% in the current fiscal year.
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- These economic measures are being dubbed as mini-budget.
- These are based on the ideology of reform, perform and transform, as highlighted by the Indian Prime Minister.