Steel sector is becoming more efficient, environment-friendly and globally competitive supported by various government policies.
Last time services activity contracted for two consecutive months was in August 2017 following the GST implementation.
The industry emphasised that it was now critical for banks to facilitate a faster transmission of rate cuts.
The repo rate has been brought down to 5.15 per cent to help reduce borrowing costs for home and auto loans.
The IHS Markit India Services Business Activity Index fell to 48.7 in September from 52.4 in August.
I think many more structural reforms are in the offing. The government has pushed for disinvestment, said the Niti Aayog CEO.
I would say that this is the time where we need to focus on implementing structural reforms, said CEA K V Subramanian.
Manufacturers expect factors like good monsoon and recent stimulus measures by the government will have positive impact on sales.
Government finances have come under pressure due to moderation in revenue collection and a slew of measures taken to lift growth.
Growth in the region was 5.9 per cent in 2018.