Finance Minister Nirmala Sitharaman addressed a press briefing on the state of economy and told reporters that India's economic growth is much higher than global growth. "Global GDP growth is projected at 3.2 per cent and is probably going to be revised downwards," Ms Sitharaman said. Ms Sitharaman announced a slew of steps to spur the economic growth. Meanwhile, in order to spur the slowing economy Ms Sitharaman rolled back higher surcharge imposed on foreign portfolio investors which was announced in the Budget last month.

Here are the highlights of Finance Minister Nirmala Sitharaman's press conference:

Aug 23, 2019 18:12 (IST) Broad basing & deepening bond markets in India a credit enhancement organization for infra & housing projects; further development of Credit Default Swap markets & alignment of bond market regulations with international best practices #GovtBoostsEconomy@PMOIndia@FinMinIndiapic.twitter.com/vDLPJgtcCS - Rajeev kumar (@rajeevkumr) August 23, 2019

Aug 23, 2019 17:59 (IST) Tax scrutiny will be randomised from Vijay Dashami day, one odd over-enthusiastic officer won't be able to harass anybody: Nirmala Sitharaman

Aug 23, 2019 17:57 (IST) Banks have decided to launch repo-rate linked interest rates - means reduced EMI housing loans, working capital to be cheaper: Nirmala Sitharaman

Aug 23, 2019 17:56 (IST) To encourage investment in capital market, surcharge on long-, short-term capital gains withdrawn: Nirmala Sitharaman

Aug 23, 2019 17:55 (IST) Enhanced surcharge on foreign portfolio investors withdrawn, says Finance Minister Nirmala Sitharaman.

Aug 23, 2019 17:55 (IST)



Aug 23, 2019 17:55 (IST) We will set up a cell, led by member of CBDT, for addressing problems of startups. Startups with an I-T issue can approach this panel: Nirmala Sitharaman



Aug 23, 2019 17:54 (IST)

Aug 23, 2019 17:54 (IST) India's growth much higher than global growth, says Finance Minister.

Aug 23, 2019 17:53 (IST) US, Germany are witnessing inverted yield curves which indicates lower growth, says Finance Minister.



US, Germany are witnessing inverted yield curves which indicates lower growth, says Finance Minister.

Aug 23, 2019 17:53 (IST) Global GDP growth is projected at 3.2% and is probably going to be revised downwards