PM Narendra Modi, economists discuss key policies ahead of Budget

In the interactive session organised by Niti Aayog on 'Economic Policy - The Road Ahead', over 40 economists and other experts participated.

Published: 22nd June 2019 08:51 PM  |   Last Updated: 23rd June 2019 09:53 AM   |  A+A-

Narendra Modi: Prime Minister Narendra Modi on April 26, filed his Lok Sabha nomination from Varanasi. As per PM Modi’s declaration in the poll affidavit, his assets amount to worth Rs 2.5 crore, including a residential plot in Gandhinagar. Modi has a fixed deposit of Rs 1.27 crore and possess Rs 38,750 cash in hand. The PM’s movable assets grew from Rs 51 lakh in 2014 to Rs 1.41 crore in 2019 – nearly tripled.

Prime Minister Narendra Modi (File Photo | PTI)

By Express News Service

NEW DELHI:  Strategies to kick-start the slowing economy in an environment of global protectionism, create jobs by stimulating construction, infrastructure and MSME sectors, besides solving an ongoing farm crisis, were among the issues discussed at a meeting held by Prime Minister Narendra Modi with a team of 40 economists.

The meeting organised by the NITI Aayog was termed ‘Economic Policy — The Road Ahead’. “During the session, participants shared their views, in five distinct groups, on the economic themes of macroeconomy and employment, agriculture and water resources, exports, education and health,” said a release from the Prime Minister’s Office. 

ALSO READ: Finance Minister Nirmala Sitharaman holds halwa ceremony, printing of documents begin

Officials said the economists gave presentations which, among other things, recommended a slew of measures to boost employment by taking up a massive infrastructure push, and talking measures to encourage the MSME sector.

“We recommended measures to stimulate the economy through a combination of fiscal measures, which would include encouraging sectors that are labour-intensive like construction, infrastructure and MSME,” said one of the economists present at the meeting. All present at the meet were reportedly asked not to divulge details.

The global wave of protectionism and tariff wars and the need to encourage exports by taking measures that would not fall foul of WTO norms were also suggested. Increase in public spending on agriculture and irrigation networks were among other suggestions.

Economists also recommended focusing on skilling and providing a boost to the manufacturing sector, simplification of the Goods and Services Tax (GST), implementation of the Direct Tax Code and incentivising digital transactions.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp