Growth in India's economic output slowed to 4.5% in the three months that ended in September 2019, which marked the slowest pace of expansion in six years.
slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years.
India's industrial production grew in November, beating expectations. Along with other indicators like factory activity data, auto sales, and bank credit, some experts said growth likely began to inflect in the final three months of 2019. He added that South Asia's largest economy needs to revive itself to become an attractive destination, particularly for companies that are shifting their supply chains out of China and into countries such as Vietnam.India's finance minister is due to present the country's union budget on Feb. 1 for the fiscal year that begins on April 1 and ends on March 31, 2021.
He added that he hoped the budget package would also emphasize structural reforms that India needs to revive its long-term sustainable growth.Some economists predicted the government to announce income tax cuts during the budget, but some say it is unlikely to have a meaningful impact when it comes to stimulating growth.
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