New Delhi: The government will take immediate steps to arrest the slowdown in economic growth and encourage manufacturing, finance minister Nirmala Sitharaman said in a written reply to questions by lawmakers on Tuesday, just days before she presents the Union budget. “Economic growth is high on the agenda of the government. Sitharaman said the moderation in economic growth momentum in FY19 was primarily on account of slower growth in the farm and allied sectors. Growth in the manufacturing sector has slowed, but it is not attributable to demonetization, news agency PTI said, citing Sitharaman. SBI recorded wilful defaults worth ₹46,158 crore, while Punjab National Bank reported ₹25,090 crore and Bank of India ₹9,890 crore, Sitharaman said in her reply, Reuters reported.

Source: Mint July 02, 2019 17:48 UTC