According to the government’s second economic report, economic growth for the 2017-18 period will be less than 6.75-7.50 percent.
India’s economy grew by 6.75-7.5 per cent in January last year.
The current report said it would take some time for the economy to become fully beaten.
The report also stressed that the pressure on agriculture income in the economy, the decline in food prices, the agricultural credit waiver and tightening of the government’s finances, and the fall in profitability in electricity and telecommunications companies.
At the same time, the report said that the GST practices, the impact of monetary removal, privatization of Air India and the reduction of energy subsidies would help to make the economy better.
The document also states that price rise within the 4 percent of the Reserve Bank’s recommendation is another important factor.
The document says that the government has to solve the current problem with the usual economic means.