https://www.taxtmi.com/news?id=19286 The Finance Minister rejected claims of a severe economic downturn as exaggerated, stating India remained one of the fastest growing economies. He emphasised robust services growth in Q1, attributed Q1 manufacturing weakness to GST related destocking (not demonetisation), and noted manufacturing recovered by Q2 to around seven percent. On that basis he argued against emergency fiscal measures like tax cuts or larger deficits, viewing them as inappropriate for the current cyclical situation. en-us Sat, 30 Dec 2017 17:49:34 +0530 Sat, 30 Dec 2017 17:49:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19286 The Finance Minister rejected claims of a severe economic downturn as exaggerated, stating India remained one of the fastest growing economies. He emphasised robust services growth in Q1, attributed Q1 manufacturing weakness to GST related destocking (not demonetisation), and noted manufacturing recovered by Q2 to around seven percent. On that basis he argued against emergency fiscal measures like tax cuts or larger deficits, viewing them as inappropriate for the current cyclical situation. News - Sat, 30 Dec 2017 17:49:34 +0530 https://www.taxtmi.com/news?id=19286