Lack of private investment and inability of banks to support growth is hurting the economy, Finance Minister Arun Jaitley said on Monday, weeks after India’s GDP plummeted to a four-year low of 5.7% in the April-June quarter.
He said last quarter’s (Apr-June) growth was pulled down by a poor showing of manufacturing sector. Jaitley made these comments emerging out of the BJP National Executive in the Capital in which Prime Minister Narendra Modi is believed to have told the participants to work on ways to achieve a high economic growth before the country plunges into 2019 elections.
Immediately after the meeting, the Prime Minister also constituted his Economic Advisory Council.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks