Modi to brainstorm economic situation with Ministers, secretaries
Prime Minister Narendra Modi is likely to hold a crucial meeting with his Council of Ministers and secretaries for a marathon day-long meeting to discuss the economic situation prevailing in the country and challenges. The meeting is likely to be held later this month. With the Lok Sabha polls less than two years away, the Prime Minister will review the challenges before the nation as global agencies including World Bank have predicted that the world will face a recession. Though India's economic situation is far better than neighboring countries and inflation is also under control compared to many developed nations. But the PM wants a thorough discussion on the economic situation. The Prime Minister had already held a meeting of the NITI Aayog's Governing Council in August.
Ever since Modi came to power in 2014, he has been holding these brain-storming sessions with his Council of Ministers at least twice a year. Similar meetings had been held with secretaries of all key ministries and departments not only in Delhi but in other states. But next week's meeting is focused on the prevailing economic situation and what more the government should do to improve the situation further. Interestingly, no agenda has been circulated before the meeting and informally told to keep priority areas relating to their ministers. One satisfactory aspect is that inflation is coming down as global prices of commodities are falling and consumption remains high. The RBI is also tightening the inflationary trends and taking a call on raising interest rates further.
