PM to take stock of economy at NITI Aayog on Tuesday

PTI New Delhi | Updated on January 16, 2018 Published on December 26, 2016


Prime Minister Narendra Modi will take stock of the economy with experts at NITI Aayog tomorrow against the backdrop of currency crunch post demonetisation and discuss ways to speed up growth.

“The theme of tomorrow’s meeting is ‘Economic Policy Reform, Road Ahead’. The Prime Minister will make opening remarks. There are 15 invitees who will make their presentations before the Prime Minister,” a senior government official said.

The meeting assumes significance in view of various multilateral agencies and RBI lowering the growth forecast for the current fiscal. RBI has reduced the economic growth forecast to 7.1 per cent from 7.6 per cent in its monetary policy review earlier this month.

Multilateral funding body Asian Development Bank (ADB) too slashed the growth projection to 7 per cent for the current fiscal from its earlier 7.4 per cent due to the impact of demonetisation on economic activities.

Indian economy expanded by 7.1 per cent and 7.3 per cent in the first and second quarters of 2016-17.

Economists, including former Planning Commission Deputy Chairman Montek Singh Ahluwalia, have raised concerns that demonetisation will disrupt the economy and pull down the GDP growth rate for this fiscal by up to two percentage points.

The official said the Prime Minister will also take stock of various initiatives of NITI Aayog to promote digital economy like Lucky Grahak Yojana and Digi Dhan Vyapaar Yojana to incentivise digital payments.

The estimated expenditure on the first phase of the schemes (up to April 14, 2017) is likely to be Rs 340 crore.

Published on December 26, 2016

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.