September 25, 2017 / 12:19 PM / a year ago

Jaitley says planning steps to address growth concerns

NEW DELHI (Reuters) - The Indian government is planning measures to revive economic growth, Finance Minister Arun Jaitley said on Monday.

Indian Finance Minister Arun Jaitley addresses a delegation while speaking on the Goods and Services Tax (GST) issues during the Vibrant Gujarat investor summit in Gandhinagar, India January 11, 2017. REUTERS/Amit Dave/Files

Growth in Asia’s third-largest economy slowed to a three-year low of 5.7 percent in the quarter that ended in June, and Jaitley last week said that New Delhi was looking for ways to speed it up.

The government is considering a plan to loosen its fiscal deficit target to enable it to spend up to 500 billion rupees ($7.68 billion) more to halt an economic slowdown, two government officials with direct knowledge of the plan told Reuters last Thursday.

($1 = 65.1000 Indian rupees)

Reporting by Rajesh Kumar Singh; Editing by Malini Menon

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