Comments
The day after the Prime Minister, Dr Manmohan Singh, called for reversing the mood of pessimism, top bureaucrats today took stock of the economic situation with secretaries of various ministries for taking firm steps to arrest the slowdown in growth.
“Cabinet Secretary (Ajit Seth) took meeting of secretaries of economic ministries. We took stock of the current economic situation,” a senior official said, after the meeting.
Among others, the meeting was attended by the Finance Secretary, Mr R.S. Gujral, Economic Affairs Secretary, Mr R. Gopalan, Commerce Secretary, Mr S.R. Rao, Industry Secretary, Mr Saurabh Chandra, and Power Secretary, Mr P. Uma Shankar.
The meeting of top bureaucrats comes a day after Dr Singh, who assumed charge of the Finance Ministry after Mr Pranab Mukherjee quit to contest for Presidential election, has called for reversing the climate of pessimism and regeneration of “animal spirit” in the economy.
India’s economic growth during 2011-12 slipped to a 9-year low of 6.5 per cent and in the current fiscal, it is not expected to do much better. The domestic currency too has depreciated sharply in the recent weeks going below Rs 57 to a dollar.
Dr Singh had yesterday held meetings with key economic advisors including the PMEAC Chairman, Dr C. Rangarajan, the Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, and Chief Economic Advisor, Prof. Kaushik Basu.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.