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.

The steep fall in GDP 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.

Toyota will acquire a stake of about five per cent in Suzuki for nearly 900 million dollars. Suzuki will put about 450 million dollars of its own money into Toyota.

The biggest risk facing emerging market economies is growing evidence that global growth and trade is weakening, Reserve Bank of India (RBI) Governor Shaktikanta Das has said.

The slowdown in manufacturing sector pushed the industrial output growth to 1.7 % in January this year, the data released by Central government showed on Tuesday.