Monday, 25 June, 2018

PM, economists take stock of economy

Union Budget PM Modi to meet economists, sectoral experts on January 10
Kenny Thornton | 13 January, 2018, 20:31

The Vice Chairman NITI Aayog Rajiv Kumar, and senior officers from the Union Government and NITI Aayog were also present, the release informed.

Various groups interacted amongst themselves and then crystallised their ideas and made presentation before the PM, Kumar said, adding there were experts from all across the country - regional representation, sectoral representation. More than 40 economists and experts participated in deliberations on Thursday.

The session on "Economic Policy: The Road Ahead", organised by government think tank NITI Aayog, was attended by a host of ministers including Finance Minister Arun Jaitley, NITI Aayog functionaries and leading economists.

The key sectors for discussion included macro-economy, agriculture and rural development, employment, health and education, manufacturing and exports.

"NITI Aayog had set up a task force to examine what we call high frequency employment data".

The finding of report is in startling contrast to the Labour Bureau and Centre for Monitoring Indian Economy (CMIE) data on jobs.

"Had an extensive interaction with economists and experts on "Economic Policy- the Road Ahead", the Prime Minister said in a tweet.

Republican legislators unveil new U.S. immigration Bill
Trump has terminated it but given lawmakers until March 5 to craft legislation reviving its protections. But Republicans control both chambers, and many want to see big crackdowns on illegal immigration.

The Gross Domestic Product (GDP) was 7.1 per cent in 2016-17 and 8 per cent in the preceding year. He appreciated the quality of suggestions that had come from various subject experts.

Kumar, however, refused to answer questions related to budget.

The bill seeks to replace the Medical Council of India and also proposes allowing practitioners of alternative medicines, such as homoeopathy and ayurveda, practise allopathy after completing a "bridge course".

They also suggested that the proposed bank recapitalisation should be accompanied with banking sector reforms.

The meeting comes against the backdrop of data which showed the economy is estimated to grow 6.5%, a four-year low in 2017-18, hurt by the impact of demonetisation and rollout issues linked to GST.

Also the meeting is being seen crucial as the upcoming budget is to be presented from early February.

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