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PM interacts with economists, experts

PM interacts with economists, experts

Finance Minister Arun Jaitley; CEO, NITI Aayog, Amitabh Kant; Vice Chairman, NITI Aayog, Rajiv Kumar; chairman, Economic Advisory Council to the Prime Minister, Bibek Debroy, and other members of the Economic Advisory Council will also be present. "Many experts today said that we should shift from focus on agricultural production to raising farmers income, by improving productivity, lowering costs, greater efficiency, greater market access, making producers of products rather than commodities", Kumar said.

Ahead of the budget, Prime Minister Narendra Modi is likely to hold a meeting with 30 top economists of the country on January 10.

He said that the meeting was a traditional practice since the formation of the NITI Aayog. The recapitalisation of banks was also discussed and Kumar said the view was that recapitalisation should also be accompanied by governance reforms in the banks. He said the findings of a task force set up by NITI Aayog to examine employment data were "startling" and that they suggested a "better picture on the jobs front than what people thought". We have done a very large exercise after data analytics and have come out with data in contrast with what the Labour Bureau data show. "There is a much better news on employment", Kumar said at a press conference here.

PM interacts with economists, experts
PM interacts with economists, experts

According to the latest forecast from the Central Statistics Office, the economy expanded at 6% in the six months ended 30 September and will complete FY18 with a 6.5% growth, implying a 7% expansion in the second half ending 31 March.

It further said that the emphasis is on sharing the views of the experts from all over the country on the road ahead for the economic policy to steer the nation towards a New India envisioned by the prime minister. Kumar also added that the National Medical Commission Bill was supported by all the experts including doctors. Also the meeting was attended by several Union Ministers who look after economic subjects. It was 7.5 percent in 2014-15.

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