Terming the economic environment in the country and slowdown in GDP growth “a challenge”, Union Minister for Chemical and Fertilizers D.V. Sadananda Gowda said the government was taking a slew of measures to address the same.
“Our GDP growth that was at 8.2% is now at 5%, which is definitely a concern. But we will overcome it,” he said.
He listed recapitalisation and merger of public sector banks and policy measures to address slowdown in the automobile sector as examples of government interventions to revive the economy.
At a press conference here on Thursday, the Minister expressed confidence that the Centre would soon provide a relief package for the flood-affected areas of the State.
“Maharashtra, Kerala and Karnataka — none of the States have received any relief package yet. There is a process for estimation of losses which is under way. Rehabilitation work will begin after rains have stopped,” he said.