Govt giving sector-specific solutions to fight economic slowdown: Sitharaman

New Delhi, Oct 10 (KNN) Union Finance Minister Nirmala Sitharaman today said the government is giving sector-specific solutions to fight the slowdown in economic growth.

"We are giving relief to all sectors who need help," Sitharaman said.

Global ratings agency Moody's Investors Service has sharply cut its FY20 GDP growth forecast for India to 5.8 per cent.

India's GDP expansion has slowed to a six-year low of five per cent for the June quarter.

The government has been taking measures to combat slowdown including a massive cut in corporate taxes to revive economic growth.

Steps have also been taken to improve exports, easing credit, making more money available by early repayments to vendors and front-loading of banks recapitalisation.

Meanwhile, the Finance Minister has also promised the agitated PMC customers that she will request Reserve Bank of India (RBI) to expedite approvals to let depositors withdraw their money from the Punjab and Maharashtra Cooperative Bank Ltd.

---------------------