Budget 2020-21: Amid the ongoing slowdown, Prime Minister Narendra Modi on Thursday met economists and experts to seek suggestions for reviving growth.
Budget 2020-21: Amid the ongoing slowdown, Prime Minister Narendra Modi on Thursday met economists and experts to seek suggestions on reviving growth. The discussion also focussed on efforts to make India a $5 trillion economy. At an event held at NITI AAYOG as part of the pre-budget exercise, Modi said that the idea of a $5 trillion economy is not a sudden development and based on a deep understanding of the strengths of the country. It comes after the CSO’s first advance estimate showed that the economy would grow at 5 per cent in FY20. He also said that the strong absorbent capacity of the Indian economy shows the strength of basic fundamentals of the country’s economy and its capacity to bounce back.
Sectors such as tourism and urban development hold the adequate potential to take the economy forward and generate jobs, Modi also said. India is a land with unlimited possibilities, he said and stressed that all stakeholders do their bit to bridge the gap between reality and perception. “We must all work together and start to think like a nation,” the Prime Minister said. The meeting was also attended by Home Minister Amit Shah, Road Transport and Highways Minister Nitin Gadkari, Commerce and Industry Minister Piyush Goyal besides Niti Aayog Vice Chairman Rajiv Kumar, CEO Amitabh Kant and other senior officials of NITI AAYOG.
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The economists who attended the meeting included Shankar Acharya, R Nagaraj, Farzana Afridi, Venture Capitalist Shri Pradip Shah, Industrialists Shri Apparao Mallavarapu, Shri Deep Kalra, Patanjali Govind Keswani, Deepak Seth, Srikumar Misra. The subject experts Ashish Dhawan and Shiv Sarin were among the 38 delegates who participated in the discussion. Modi on Monday met many business honchos to discuss issues that are hurting the economy. He also discussed measures needed to boost the creation of jobs. Finance Minister Nirmala Sitharaman is expected to present the budget on February 1, 2019.