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Economists urge PM Narendra Modi to push privatisation, increase infra spending Narendra Modi said the COVID-19 pandemic and the subsequent management threw up new professional challenges for all those involved. Share Via Email | A+A A- By PTI NEW DELHI: Prime Minister Narendra Modi on Friday highlighted the fiscal and reform measures undertaken by the government following the COVID-19 outbreak as he held deliberations with top economists who pitched for pushing privatisation, avoiding challenging international arbitrations and increasing infrastructure spending. Participating in a virtual meeting with the Prime Minister, some economists suggested that the government could take a lenient view on fiscal deficit in the forthcoming Budget for 2021-22 due to the urgency to revive the pandemic-hit economy, sources said. ....
Economists have cautioned the government against rising protectionism and urged it to reduce customs duties on certain items in the Budget for 2021-22. “Economists gave varied suggestions. One of them was to lower some of the import duties. We should be more outward-looking than inward-looking,” a source said. The remarks assumed importance as the World Trade Organization (WTO) has taken up the trade policy review of India where hikes in customs duties have emerged as one of the major topics. A WTO report said India’s average tariff had increased to 14.3 per cent in 2020-21 from 13 per cent in 2014-14. ....
Top economists on Friday urged Prime Minister Narendra Modi to aggressively push privatisation of state-owned enterprises, avoid challenging international arbitrations and increase infrastructure investment, saying these were essential to build investor confidence. Participating in a virtual meeting with the Prime Minister, some economists suggested that the government could take a lenient view on fiscal deficit in the forthcoming Budget for 2021-22 due to the urgency to revive the pandemic-hit economy, sources said. According to the sources, the participants urged the government to come up with policies to increase exports and build investors confidence as despite multiple structural reforms across sectors, investments are still not flowing into India in a big way. There is a need to boost investor confidence. ....
Economists urge Prime Minister Modi to push privatisation, increase infrastructure spending SECTIONS Last Updated: Jan 11, 2021, 12:51 PM IST Share Synopsis In a virtual meeting with Prime Minister Narendra Modi, they suggested relaxing the fiscal deficit target in order to push infrastructure spending and steer the pandemic-hit economy back to the growth path, people aware of the deliberations told ET. ANI New Delhi: Weeks ahead of the budget, top economists on Friday suggested the government work towards boosting investor confidence and avoid challenging international arbitration awards – as in the Vodafone case – while endorsing the government’s reform initiatives, including labour law changes. ....
Synopsis Top economists and experts who will brainstorm with the government on the state of Indian Economy, will include Arvind Panagariya, KV Kamath, Rakesh Mohan, Shankar Acharya, Shekhar Shah, Arvind Virmani and Ashok Lahri. PTI The meeting, which comes ahead of the Union Budget on February 1, is critical as government chalks out strategy to give a boost to the economy. Top economists and experts will hold virtual interaction with Prime Minister Narendra Modi on Friday on the state of Indian Economy. The meeting will be hosted by NITI Aayog. Finance minister Nirmala Sitharaman, minister of state for finance Anurag Thakur, vice chairman of NITI Aayog Rajiv Kumar besides members and CEO of the Aayog will be other key government officials who will be present at the meeting. ....