Arun Jaitley says planning steps to address growth concerns

New Delhi: Government is planning measures to revive economic growth, Finance Minister Arun Jaitley said on Monday.

Growth in Asia`s third-largest economy slowed to a three-year low of 5.7 percent in the quarter that ended in June, and Jaitley last week said that New Delhi was looking for ways to speed it up.

The government is considering a plan to loosen its fiscal deficit target to enable it to spend up to 500 billion rupees ($7.68 billion) more to halt an economic slowdown, two government officials with direct knowledge of the plan told Reuters last Thursday.