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PM Modi holds pre-Budget meet at NITI Aayog
Prime Minister Narendra Modi on Friday held a pre-budget meeting with noted economists and sector experts at NITI Aayog and noted that India can leverage several opportunities in areas of digitisation, energy, healthcare and agriculture even if there are risks due to the geopolitical situation.
Prime Minister Narendra Modi on Friday held a pre-budget meeting with noted economists and sector experts at NITI Aayog and noted that India can leverage several opportunities in areas of digitisation, energy, healthcare and agriculture even if there are risks due to the geopolitical situation.
The theme for the pre-budget deliberations was ‘India’s Growth & Resilience Amidst Global Headwinds’. The meeting is significant as the Union Budget is likely to touch upon these aspects.
“Prime Minister noted that while there were risks, the emerging global environment offers new and diverse opportunities in areas such as digitisation, energy, healthcare and agriculture. To seize these opportunities, public and private sectors need to leverage synergies and think out of the box,” a statement from the Prime Minister’s Office (PMO) said.
Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget in the Lok Sabha on February 1.
Friday’s meeting was attended by Sitharaman, minister of state for planning (independent charge) Rao Inderjit Singh, principal secretary to the Prime Minister, PK Mishra, Cabinet secretary Rajiv Gauba, NITI Aayog vice chairman Suman Bery and NITI Aayog CEO Parmeswaran Iyer among other government officials.
Shankar Acharya, Pami Dua, Ashok Gulati, Shamika Ravi, Soumya Kanti Ghosh, KR Shanmugam were among economists and sector experts who attended the meeting.
The economists suggested ways in which India can sustain its development momentum. They also shared ideas on topics ranging from agriculture to manufacturing, the statement said.
“Recognising that the underlying global headwinds are likely to continue, strategic recommendations were also shared for further strengthening India’s resilience,” the statement said.
The economy is facing several challenges, including persistently high inflation, a depreciating rupee, and subdued growth in exports. The ongoing Russia-Ukraine and disruptions in the global supply chains have adversely affected global economic growth.
According to the PMO, there was agreement among the participants that India has emerged as a bright spot on the turbulent global stage due to its resilience.
“It was suggested that new growth impulses would need to build upon this foundation through holistic development across all sectors,” the statement said.
