"We do have a lot of respect for you, but sometimes we wonder if it wouldn't be more apt to address you as 'Nirbala' Sitharaman instead of Nirmala Sitharaman," said Chowdhury in the Lok Sabha.
Private sector has not announced any major investment after recent corporate tax cut and therefore abolishing DDT at this point of time may prove to be counter effective.
The slowdown in Q2 FY20 was largely due to a sharp dip in the manufacturing sector and agriculture output, said the Ministry of Statistics and Programme Implementation in a statement.
The government is due to release data on gross domestic product (GDP) on Friday evening. For the first quarter of current financial year, GDP growth came in at a more than six-year low of 5 per cent.
Industrial output in September contracted by 4.3 per cent from a year earlier due to poor performance in the manufacturing sector, data released by the government on Monday showed.
Finance Minister Nirmala Sitharaman said a Fund has been set up to rescue stalled realty projects.A total of 4.58 lakh housing units are stuck and around 1600 projects are stalled.
Prime Minister Modi said that Tier-II and Tier-III cities in India have emerged as engines of growth and the global companies investing in India are assured of skilled manpower.
Prasad’s comments came at a time when India slipped by 10 positions in the world competitive index report and government data on Friday revealed that factory output had shrunk by 1.1 per cent in August — the worst performance in seven years.
"On the whole, it was very tonic-like meeting, where I heard a lot of positive things. Not one voice said there was a concern, shortfall of demand. None of them voiced liquidity concerns," Sitharaman said.
Finance Minister Nirmala Sitharaman is addressing a press conference over the state of economy and also about the measures being undertaken for giving an impetus to the economy.