Govt taking steps to revive economy: President

New Delhi: Attributing slow growth to global and domestic factors, President Pranab Mukherjee on Thursday said the government is taking several steps to boost economy and restore investor confidence.

"Both global and domestic factors have affected our growth. We need to address the impact of both. My government has responded to the situation by taking several measures to revive investment activity and investor sentiment," he said in his maiden address to the joint sitting of Parliament, which heralds the Budget session.

Mukherjee further said: "The past year has been a very difficult one for the global economy ...It has been a difficult year for India also.

"The Indian economy is currently experiencing slower growth. The real GDP grew by 5.4 per cent in the first half of the current fiscal year. This is significantly lower than the average of around 8 per cent in the last decade."

The growth in 2012-13 is expected to fall to a decade low level of 5 per cent against 6.2 per cent in 2011-12.