MADURAI: President of Madurai-based Agri and All Trade Chamber S Rethinavelu has urged the Union Finance Minister to take bold and innovative steps to revive the economy and set it back at 7% plus growth recorded in the last three years.

Such efforts are vital to achieve PM’s goal of USD 5 trillion economy by 2030 and to become the 3rd largest economic power in the world, the chamber leader said. He pointed out that GDP growth is expected to hit a four-year low of 6.4% this fiscal year. He said that such a sharp decline from the 8.2% growth recorded last year is worrying.

The Chamber urged the Centre not to tax people having a monthly taxable income up to Rs 50,000 in this backdrop.