The government has raised this year’s budget deficit to 2.8 per cent of GDP from 2.6 per cent in 2018.
Government of India has also proactively taken policy decisions in response to the global slowdown.
The change in base year actually captures the change in structures of the economy.
Two wheelers and three wheelers, were expected to decline by 6-7 pc this fiscal as compared with 2018-19 to around 25 million units.
Banks may further cut deposit rates to protect their margins as lending rates continue on a downward trajectory.
I would say that this is the time where we need to focus on implementing structural reforms, said CEA K V Subramanian.
Secretary non-commital on overseas sovereign bond issue.
Government finances have come under pressure due to moderation in revenue collection and a slew of measures taken to lift growth.
India's industrial production growth slowed to 4.3 per cent in July, dragged mainly by manufacturing sector's poor show.
IMF spokesman Gerry Rice said trade tensions were beginning to affect a world economy already many facing challenges.