Indian President Pranab Mukherjee on Thursday said that the government has been taking a number of measures to revive the economy which is currently experiencing slow growth due to domestic and global factors, media reported.
"Both global and domestic factors have affected our growth. We need to address the impact of both. My government has responded to the situation by taking several measures to revive investment activity and investor sentiment," Mukherjee told the Parliament on the first day of its budget session.
He added, "The past year has been a very difficult one for the global economy. It has been a difficult year for India also. The Indian economy is currently experiencing slower growth. The real gross domestic product grew by 5.4 percent in the first half of the current fiscal year. This is significantly lower than the average of around 8 percent in the last decade."
Indian Finance Minister P. Chidambaram is to present the country's next fiscal budget at the end of this month. /.