New Delhi, Aug 5 (TIWN) Getting into action mode to avert a further slowdown in key sectors, Finance Minister Nirmala Sitharaman on Monday said the government will meet representatives from various sectors of the economy facing the heat of sluggish demand and consumption for preparing a policy response incorporating their inputs.

Chidambaram told investors in Hong Kong - the first stop on his four-nation tour to woo investors to India - on Tuesday that the Indian economy would grow "no better than" 5.7% in the current fiscal year as he declared that there was no case to downgrade the country's sovereign rating.  "The market has been cautious leading into what is seen as an 'election/populist' budget in February 2013. The finance minister was decidedly more positive. He suggests the fiscal deficit target will be met, taxes will not be raised and while policy will and should be biased towards the poor, the budget will offer a lot," said a note put out by Citi, which co-hosted the finance minister's meeting with more than 200 equity and fixed-income investors.