Government of India has also proactively taken policy decisions in response to the global slowdown.
A credit crunch among non-bank financial institutions (NBFIs), have increased the probability of a more entrenched slowdown.
RBI and other regulators are looking at financial at it holistically, he said when asked about stress in the financial sector.
India wants to be the new destination for global energy players, said oil minister Dharmendra Pradhan.
A barrage of rate cuts from the RBI this year has done nothing concrete so far to revive a slowing Indian economy.
Steel sector is becoming more efficient, environment-friendly and globally competitive supported by various government policies.
The move is estimated to result in Rs 1.45 lakh crore in revenue loss for the government during FY2019-20.
ISMA had made a preliminary estimate of 28.2 million tonnes of sugar production for the 2019-20 marketing year.
The change in base year actually captures the change in structures of the economy.
Last time services activity contracted for two consecutive months was in August 2017 following the GST implementation.