Govt to take 'additional measures' to tackle economic growth: Jaitley

New Delhi: With the economic growth slowing to a three-year-low of 5.7 per cent GDP, Finance Minister Arun Jaitley on Wednesday said the government will take additional measures to bolster economy.

Addressing the media after the Union Cabinet meeting, the finance minister said "We have taken note of all economic indicators which are available... the government will take any additional moves which are necessary. I am not in a position to announce today in the press conference. I will be certainly consulting the prime minister before that and when we decide, you will come to know".

He also said that the government has approved the merger and modernisation of 17 Government of India Presses. "Cabinet approves rationalisation/merger and modernisation of 17 Government of India Presses (GIPs) into 5 GIPs at Rashtrapati Bhawan, Minto Road and Mayapuri in New Delhi, Nashik in Maharashtra and Temple Street in Kolkata," an official statement said.

The exchequer cost will be "zero", said a government statement, adding that there will be no retrenchment and employees will be absorbed.

According to the statement, 468 acres of land belonging to these units that are to be merged will go to the Land & Development Office of the Ministry of Urban Development.

With the deadline for filing the GSTR-3B invoice expiring on Wednesday midnight, Jaitley urged taxpayers to not wait till the last day to file tax returns as it puts pressure on the GSTN portal.

In line with its disinvestment plans, the Centre also decided to exit three ITDC hotels including Jaipur Ashok and handover them to the state governments concerned. The Union Cabinet approved the transfer of Hotel Jaipur Ashok and Lalitha Mahal Palace Hotel, Mysore, to the governments of Rajasthan and Karnataka.

According to PTI, this policy is in line with the view that running and managing hotels is not the job of the government or its entities.