PM meets experts over economic policy ahead of Budget Session

PM-economists meet Job farm manufacturing exports focus areas

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 Monday said the Union Budget 2018-19 would not be a populist budget, contrary to what many believe. This can be brought about by improving productivity, lowering costs, greater efficiency, giving much greater market access to farmers, making them producers of products rather than commodities.

Employment generation, exports and increasing farmers' income emerged as the top agenda during Prime Minister Narendra Modi's interaction with the country's 40 leading economists on Wednesday. We had set up a task force to examine high frequency data on employment.

"The statistics that you get on lack of unemployment data is over-stated". 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.

An official statement said that during the session, participants shared their views on various economic themes such as the macro-economy, agriculture and rural development, and employment.

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".

Also, there was a unanimous support to the National Medical Commission Bill.

After the presentations, PM Modi assured the experts that the government will "attempt to make the best out of their informative suggestions and views which were presented in new ways through this initiative". The meeting was attended by several union ministers. But, the World Bank numbers released on Wednesday are quite optimistic - the economic growth is expected to accelerate to 7.3% this year and 6.7 per cent in 2017.

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