Modi meets leading economists ahead of Union Budget

Modi meets leading economists ahead of Union Budget

Prime Minister Narendra Modi on Friday (January 13) met several prominent economists as his government gets ready to present the Union Budget for 2023-24 amid global headwinds emanating from geopolitical tensions.

Economists including Shankar Acharya, Ashok Gulati and Shamika Ravi participated in the meeting which was also attended by Union Finance Minister Nirmala Sitharaman, Niti Aayog Vice-Chairman Suman Bery and other officials.

Also Read: Budget may cap fiscal deficit at 5.8% for FY24, Centre’s borrowings likely to rise

Sitharaman, who is slated to present the Budget in the Lok Sabha on February 1, has already held talks with key stakeholders to get their views and suggestions.

During Friday’s meeting, several suggestions were made by economists to boost the economic growth which is estimated to drop to 7 per cent in the current financial year from 8.7 per cent in 2021-22.

The economy is facing several challenges, including persistently high inflation, a depreciating rupee, and subdued growth in exports.

Also Read: India’s growth slowing to 6.6%, will remain fastest rising economy: World Bank

The ongoing Russia-Ukraine and disruptions in the global supply chains have adversely global economic growth.

(With inputs from agencies)

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