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Extraordinary steps needed: NITI Aayog on economic slowdown

The non-banking finance firms couldn't manage this high loan growth leading to defaults by some of the large entities triggering slowdown in the economy eventually

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An automobile factory in Chennai. Representation pic/AFP

An automobile factory in Chennai. Representation pic/AFP

New Delhi: Government think tank Niti Aayog on Thursday made a case for extraordinary steps to deal with the unprecedented stress in the financial sector which has resulted in an economic slowdown in the country.

The Centre needs to take steps that eliminate apprehension from the minds of private sector players and encourage them to step up investments, Niti Aayog vice chairman Rajiv Kumar said.

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