Published: Sat, January 13, 2018
Worldwide | By Isabel Fisher

PM Modi to meet economists, sectoral experts on January 10

PM Modi to meet economists, sectoral experts on January 10

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.

NITI Aayog Vice Chairman Rajiv Kumar on Wednesday said the government will now focus on raising the incomes of farmers. "So we need to shift our focus to productivity, lowering costs, increasing efficiency, and giving farmers access to markets", he said.

Earlier on Wednesday, Prime Minister Narendra Modi interacted with experts and secretaries ahead of the Union Budget. "I am trying to create capability in the Aayog hopefully in collaboration with the Ministry of Labour to trap this data", he said.

On the issue of unemployment, experts opined that rate of education is contributing to higher number of jobless youth, thus, "As you educate more people, raise aspirations and you have to provide them with jobs".

The select group of economists and various sector experts have been invited by NITI Aayog for the deliberations with the prime minister on "Economic Policy: The Road Ahead". 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.

The Niti Aayog Vice-Chairman said all the participants unanimously supported the National Medical Commission Bill, which has been referred to a parliamentary committee for scrutiny.

The Central Statistics Office (CSO) has projected India's growth to slow to 4-year low of 6.5 percent in the current fiscal in the backdrop of introduction of Goods and Services Tax (GST) regime.

One of the experts, he said, was of the opinion that the government should target only job growth and stressed on high economic expansion for generating employment.

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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