(LiveMint)
Prime Minister Narendra Modi’s review of the economy has been postponed as the finance ministry puts together a comprehensive presentation on the reasons for an economic slowdown and remedial measures to stem it.
Modi was to meet finance minister Arun Jaitley, chief economic adviser (CEA) Arvind Subramanian and other top officials in the finance ministry on Tuesday evening to analyse the economic situation and explore options to stimulate the economy. The meeting has been postponed by a few days, official sources said. No new dates have been proposed as yet. The prime minister’s office (PMO) has asked the finance ministry to hold consultations with key ministries to prepare a matrix of government revenues and spending as well as the measures needed to arrest the decline in GDP growth, the sources said.
Sectoral reasons and action points would be prepared, they said, adding that high-level discussions with ministries such as railways to assess the capital requirement for the year were held on Monday and more such meetings would follow. Similar discussions are planned with the road transport and highways ministry to assess spendings on infrastructure projects. Discussions on exports, attended by additional principal secretary to the prime minister, P.K. Mishra, are also happening with the commerce and industry ministry.
