Ruling party minister parley over recession economic plan implementation

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Ruling Party Ministers Hold Emergency Parley to Discuss Economic Plan Implementation Amid Recession Fears

New Delhi, [Date] - In a bid to address growing concerns over the country's economic slowdown, the ruling party's cabinet of ministers held an emergency meeting today to discuss the implementation of the government's economic plan.

The meeting, which was attended by top ministers, including the Finance Minister, Commerce Minister, and Industry Minister, was called in response to the country's GDP growth rate slipping to a six-year low of 5.7% in the last quarter.

According to sources, the ministers discussed various measures to boost economic growth, including infrastructure development, tax reforms, and measures to stimulate consumer spending.

"We are committed to implementing our economic plan and addressing the concerns of the people," said the Finance Minister, who chaired the meeting. "We will work closely with all stakeholders to ensure that our economy is back on track."

The ministers also discussed the impact of the ongoing global trade tensions on the country's economy and the need to diversify exports to reduce dependence on a few key markets.

The meeting came as the country's industrial production growth rate slowed to 1.7% in March, the lowest in over eight years. The slowdown has led to concerns over job losses and a potential recession.

The government has already taken several measures to boost the economy, including cutting corporate tax rates and increasing spending on infrastructure projects. However, economists have warned that more needs to be done to address the underlying structural issues in the economy.

The ruling party has promised to implement a series of reforms to boost economic growth and create jobs. The party's economic plan includes measures to increase foreign investment, promote entrepreneurship, and improve the business environment.

The meeting was seen as a crucial step towards implementing the government's economic plan and addressing the concerns of the people. The government is expected to announce further measures in the coming weeks to boost economic growth and stability.