"The revival of Prime Minister's Economic Advisory Council is the first step in the stimulus direction. It shows that the government is going to seriously address the stagnation of growth issue," she added.
"Across the world, there is a talk of putting aside austerity measures and push for growth. World economies need to come together and form a strategy of expansion to stimulate public expenditure and private investment," said Alok Gupta, an economist.
"India still has the potential to revive world markets but with the recent steps, the government needs to focus on recovery and contain inflation at the moment," the economist said.
"Growth has slowed for five consecutive quarters and is slower than the one in which the BJP assumed office. Growth matters for employment and basic right to living. The government may need to give a shot in the arm to education and health sectors also which need considerable improvement," he added.
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