Prime Minister Narendra Modi on Tuesday met government officials, experts and economists at Niti Aayog discussing various aspects to improve the economic condition of the country.
New Delhi: Prime Minister Narendra Modi on Tuesday met government officials, experts and economists at Niti Aayog discussing various aspects to improve the economic condition of the country.
The experts and economists present during the meet suggested various points such as reduction of income tax rates, market reforms, agriculture to boost the economic growth of the country.
Given below are five takeaways from the meeting:
1) The experts and economists called for simplification and reduction in personal income tax rates such as reducing exemptions, bringing down tax rate, etc.
2) The economists also favoured harmonisation of customs duties to global levels in a bid to boost economic activities.
3) The experts also suggested for listing of PSUs and increase use of Direct Benefit Transfer (DBT) to subsidy expenditure.
4) Farm sector experts suggested incentivising states to undertake market reforms, create corpus fund for promoting farm mechanisation and micro irrigation, and provide interest subvention for term loans so that income of farmers are doubled by 2022.
5) Experts also suggested that there is a need to invest in the tourism sector which has potential to generate high paying job and making Indian universities world class.
Among others, the meeting was attended by Finance Minister Arun Jaitley, Panagariya and various other senior officials from the Union Government and Niti Aayog.
The economists and experts who were present include Pravin Krishna, Sukhpal Singh, Vijay Paul Sharma, Neelkanth Mishra, Surjit Bhalla, Govinda Rao, Madhav Chavan, N K Singh, Vivek Dehejia, Pramath Sinha, Sumit Bose and T N Ninan.
With PTI Inputs