Indian economy currently facing challenges: FM Nirmala Sitharaman

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FM Nirmala Sitharaman said the economy was currently facing challenges, as she unveiled a book on global finance.

Launching The Rise of Finance: Causes, Consequences and Cure, she said the book would help “understand the current economic situation facing both the world and Indian economy”.

“This will be a book that is very relevant to those of us, sitting on the policymaking table. Secondly, its relevance and the timing of the launch of the book in India. We are currently facing a challenging time,” the Sitharaman said.

The book is co-authored by V Anantha Nageswaran and Gulzar Natarajan. Nageswaran is dean of IFMR Graduate School of Business at Krea University. Natarajan is senior managing director at Global Innovation Fund.

India’s economic growth slumped to an over six-year low of 5% in the June quarter because of slower consumer demand and private investment.

This has prompted many global agencies to cut India’s GDP growth by various degrees for 2019-20. The RBI, in its October monetary policy review, had cut sharply its economic growth projection for the country for this fiscal to 6.1%, from 6.9% earlier.

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