Industry body Assocham has urged the government to relax fiscal deficit targets and boost public expenditure as a means to accelerate India’s economic growth, which slipped to 5.7% in the June quarter.
The chamber said India Inc. is looking up to the government to take the ‘out of ordinary’ measures, citing “concerns” over slowdown in growth due to the transient disruptions in the economy following GST implementation and the remaining over-hang of demonetisation. It also said the RBI should target the real effective exchange rate more effectively.
