HIGHLIGHTS | Nirmala Sitharaman announces new measures to boost economy

"Announcements today are highly appreciated. For Auto, there were three broad reasons for a slowdown – poor sentiment, availability of finance and transaction cost for buying vehicles. The announcement today will go a long way in improving sentiments because it shows that the government is listening to the industry. I think the financing concerns have been more or less taken care of by the announcements. Not much for reducing transaction cost but several other measures that will incentivize vehicle purchase and also remove some of the unfounded fears such as BSIV vehicle registration.

Overall I applaud the steps taken today. The FM has said, “more to come”. The scrappage policy will be a big boost. Will wait and see."

- Pawan Goenka, MD of M&M

. In a bid to provide a stimulus to a flagging economy, Finance Minister Nirmala Sitharaman on Friday announced a slew of measures. She said the Indian economy is well on the growth track and looked to quell fears of growth stagnation.

. Giving in to the demands of overseas investors, Finance MinisterNirmalaSitharaman on Friday announced rollback of enhanced surcharge on foreign portfolio investors levied in the Budget.

. "Next week we will be coming with one more set of announcement. You may expect us to talk to you twice more in the near future," says Niramal Sitharaman.

. Seeking to dispel doubts over the economy and government's growth agenda, Finance MinisterNirmalaSitharaman on Friday said India's GDP continues to grow at a faster pace than the global economy and any other major economy.

. Banks have decided to pass on rate cuts through MCLR reduction to benefit all borrowers. Banks have agreed to launch repo rate linked products. This will lead to lesser EMIs for customers.

. We want resolution, not prosecution... CSR will be treated only as a civil matter, not a criminal matter, says Nirmala Sitharaman.

. Finance minister vows to make GST simpler.

. Finance Minister Nirmala Sitharaman enlists the measures taken by the current government in various department of the Ministry of Finance.

. The currentglobal GDP growth is projected at 3.2% and is expected to be revised downwards: FM

. The globalsituation is very clear... Moreover, many organisations have said that global demand is going to be very week. India is still doing better.

. Moody's Investors Service on Friday cut India's GDP growth forecast for 2019 calendar year to 6.2 per cent from the previous estimation of 6.8 per cent.

. The economy needs a larger push. The current scenario no longer needs a business-as-usual approach, Reserve Bank of India (RBI) Governor Shaktikanta Das had flagged this concern in the beginning of the month itself, much before the government went into a huddle with industry and bankers, and softened its stance towards wealth creators.

. Finance Minister Nirmala Sitharaman will hold a press briefing on Friday evening, a government spokesman said, amid expectations that the government would announce steps to revive economic growth.

. Is the government serious about a stimulus package for industries battling an economic slowdown? The yes-no approach seems to have put markets on the edge, as the equity market tanked on Thursday.

. Government think tank Niti Aayog on Thursday made a case for extraordinary steps to deal with the unprecedented stress in the financial sector which has resulted in an economic slowdown in the country.

. Parle Products Pvt Ltd might lay off up to 10,000 workers as slowing economic growth and falling demand in the rural heartland could cause production cuts, a company executive said on Wednesday.

. Oyo sent pink slips to about 60 salespeople at their New Delhi and Gurgaon offices on Monday. A similar number are likely to be let go at other locations, including Pune and Mumbai.

. The Centre is gearing up to fight economic slowdown with fiscal stimulus. To start with, public sector banks have cut interest rates on housing, auto and other personal loans to boost consumer demand well before the festive months of Dasara and Diwali.

HIGHLIGHTS | Nirmala Sitharaman announces new measures to boost economy

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