• Latest
  • Trending
  • All
  • India
  • Business
  • Politics
  • World
  • Lifestyle
  • Technology
Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman at the meeting with economists, Tuesday. (PTI)

Ahead of Budget, PM Modi Calls for Deeper and Bolder Reforms for Higher Growth

December 26, 2024
Prime Minister Modi Pays Tribute to Mahatma Gandhi

Prime Minister Modi Pays Tribute to Mahatma Gandhi

January 30, 2025
IND vs ENG 3rd T20I | Varun Chakravarthy rewrites Kuldeep's record and maintains his strong play

IND vs ENG 3rd T20I | Varun Chakravarthy Rewrites Kuldeep’s Record and Maintains His Strong Play

January 30, 2025
Altman Plans to Visit India Amid Challenge From Chinese Artificial Intelligence: Report

Altman Plans to Visit India Amid Challenge From Chinese Artificial Intelligence: Report

January 30, 2025
30 Fatalities, 7.5 Crore Visitors: Maha Kumbh 2025 Was a Day of Sorrow and Chaos

30 Fatalities, 7.5 Crore Visitors: Maha Kumbh 2025 Was a Day of Sorrow and Chaos

January 30, 2025
Jennifer Lopez and Ben Affleck Are Expected to Divide the Profits From a $68 Million Los Angeles Mansion That Remains Unsold After Six Months

Jennifer Lopez and Ben Affleck Are Expected to Divide the Profits From a $68 Million Los Angeles Mansion That Remains Unsold After Six Months

January 30, 2025
Kareena Kapoor Will Pay Tribute to Her Grandfather Raj Kapoor at Iifa 2025, Describing the Occasion as a “Surreal Moment.”

Kareena Kapoor Will Pay Tribute to Her Grandfather Raj Kapoor at IIFA 2025, Describing the Occasion as a “Surreal Moment.”

January 30, 2025
Collision Between an American Airlines Aircraft and a Black Hawk Helicopter Near Reagan Airport in Washington; Casualties Feared

Collision Between an American Airlines Aircraft and a Black Hawk Helicopter Near Reagan Airport in Washington; Casualties Feared

January 30, 2025
Ind vs Eng Third T20I: England’s Bowlers, Duckett, and Livingstone Contribute to the Team’s Survival

Ind vs Eng Third T20I: England’s Bowlers, Duckett, and Livingstone Contribute to the Team’s Survival

January 29, 2025
The Indian Government Denies the Canadian Commission’s “Insinuations” Regarding Election Interference

The Indian Government Denies the Canadian Commission’s “Insinuations” Regarding Election Interference

January 29, 2025
Trump Invites Israel’s Netanyahu to Meet With Him in the White House Next Week

Trump Invites Israel’s Netanyahu to Meet With Him in the White House Next Week

January 29, 2025
Saif Ali Khan and Kareena Kapoor Request That Paparazzi Refrain From Taking Photographs of Their Children, Taimur and Jeh, in Light of Recent Security Measures

Saif Ali Khan and Kareena Kapoor Request That Paparazzi Refrain From Taking Photographs of Their Children, Taimur and Jeh, in Light of Recent Security Measures

January 29, 2025
Rakhi Sawant Has Confirmed Her Third Marriage to Pakistani Actor Dodi Khan. “We Have a Mutual Affection for One Another.”

Rakhi Sawant Has Confirmed Her Third Marriage to Pakistani Actor Dodi Khan. “We Have a Mutual Affection for One Another.”

January 29, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, May 9, 2025
No Result
View All Result
Daily News Broadcast India
  • India
    • All
    • Politics
    Prime Minister Modi Pays Tribute to Mahatma Gandhi

    Prime Minister Modi Pays Tribute to Mahatma Gandhi

    30 Fatalities, 7.5 Crore Visitors: Maha Kumbh 2025 Was a Day of Sorrow and Chaos

    30 Fatalities, 7.5 Crore Visitors: Maha Kumbh 2025 Was a Day of Sorrow and Chaos

    The Indian Government Denies the Canadian Commission’s “Insinuations” Regarding Election Interference

    The Indian Government Denies the Canadian Commission’s “Insinuations” Regarding Election Interference

    At the Huge Maha Kumbh Celebration in India, Several People Believe Dead in a Stampede

    At the Huge Maha Kumbh Celebration in India, Several People Believe Dead in a Stampede

    People have cursed Modi and Shah to hell, Kharge said at an M.P. gathering, and Rahul said the BJP was enslaving the poor

    People Have Cursed Modi and Shah to Hell, Kharge Said at an MP. Gathering, and Rahul Said the BJP was Enslaving the Poor

    Delhi Poll: Aap Has Released Its Manifesto, Which Includes Fifteen Guarantees

    Delhi Poll: Aap Has Released Its Manifesto, Which Includes Fifteen Guarantees

    India Boosts Domestic Arms Industry and Looks West to Pare Back Russia Reliance

    India Boosts Domestic Arms Industry and Looks West to Pare Back Russia Reliance

    Five Individuals Have Been Sentenced to Death in India for the Gang Rape and Murder of a Teenager

    Five Individuals Have Been Sentenced to Death in India for the Gang Rape and Murder of a Teenager

    Reliance Plans to Build the World’s Largest Data Center in Jamnagar as Part of India’s AI Initiative

    Reliance Plans to Build the World’s Largest Data Center in Jamnagar as Part of India’s AI Initiative

    The Private School in Gujarat Receives an a Bomb Threat via Mail, and a Holiday Has Been Declared

    The Private School in Gujarat Receives an a Bomb Threat via Mail, and a Holiday Has Been Declared

    Trending Tags

    • Politics
  • Entertainment
    Jennifer Lopez and Ben Affleck Are Expected to Divide the Profits From a $68 Million Los Angeles Mansion That Remains Unsold After Six Months

    Jennifer Lopez and Ben Affleck Are Expected to Divide the Profits From a $68 Million Los Angeles Mansion That Remains Unsold After Six Months

    Kareena Kapoor Will Pay Tribute to Her Grandfather Raj Kapoor at Iifa 2025, Describing the Occasion as a “Surreal Moment.”

    Kareena Kapoor Will Pay Tribute to Her Grandfather Raj Kapoor at IIFA 2025, Describing the Occasion as a “Surreal Moment.”

    Saif Ali Khan and Kareena Kapoor Request That Paparazzi Refrain From Taking Photographs of Their Children, Taimur and Jeh, in Light of Recent Security Measures

    Saif Ali Khan and Kareena Kapoor Request That Paparazzi Refrain From Taking Photographs of Their Children, Taimur and Jeh, in Light of Recent Security Measures

    Rakhi Sawant Has Confirmed Her Third Marriage to Pakistani Actor Dodi Khan. “We Have a Mutual Affection for One Another.”

    Rakhi Sawant Has Confirmed Her Third Marriage to Pakistani Actor Dodi Khan. “We Have a Mutual Affection for One Another.”

    The Controversy Surrounding Chhaava: What Was the Objection to Vicky Kaushal’s Film?

    The Controversy Surrounding Chhaava: What Was the Objection to Vicky Kaushal’s Film?

    ‘Explosion Explosion Bumrah!’: Coldplay’s Tribute to Jaspreet Bumrah in Ahmedabad Concert Captures Hearts

    ‘Boom Boom Bumrah!’: Coldplay’s Tribute to Jaspreet Bumrah in Ahmedabad Concert Captures Hearts

    Shah Rukh Khan Acknowledges That the Title of His Forthcoming Film, King, Is “A Bit of a Show-Off”: We Have Run Out of Titles

    Shah Rukh Khan Acknowledges That the Title of His Forthcoming Film, King, Is “A Bit of a Show-Off”: We Have Run Out of Titles

    Rasha Thadani Discloses That Her Mother, Raveena Tandon, Keeps Her on Her Toes.

    Rasha Thadani Discloses That Her Mother, Raveena Tandon, Keeps Her on Her Toes

    Are Rumors About an Affair With Jennifer Aniston Harming the Obamas? This Is What We Know So Far

    Are Rumors About an Affair With Jennifer Aniston Harming the Obamas? This Is What We Know So Far

    Kapil Sharma, Rajpal Yadav, and Remo D’Souza Face Death Threats From Pakistan; They Seek Security From Mumbai Police.

    Kapil Sharma, Rajpal Yadav, and Remo D’Souza Face Death Threats From Pakistan; They Seek Security From Mumbai Police

  • Lifestyle
  • Sports
  • Business
  • Technology
  • World
  • Videos
  • Covid19
  • Opinion
DNB india
No Result
View All Result
Home Business

Ahead of Budget, PM Modi Calls for Deeper and Bolder Reforms for Higher Growth

India’s GDP rose by 5.4% in July-September, the lowest rate in seven quarters, as weaker expansions in manufacturing and consumption hurt the economy.

by DNB ind News Desk
December 26, 2024
in Business
0
Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman at the meeting with economists, Tuesday. (PTI)

Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman at the meeting with economists, Tuesday. (PTI)

1
SHARES
2
VIEWS
Share on FacebookShare on TwitterShare to Whatspp

WITH JUST OVER a month left for Union Budget 2025-26, Prime Minister Narendra Modi told economists Tuesday that deeper reforms were required for the economy to grow faster.

In a meeting organised by the Niti Aayog, the Prime Minister stressed on the need to undertake new and bold reforms and invited suggestions from the economists. The meeting comes amid slowing of economic growth, tepid urban consumption, persisting external volatility, and the threat of high tariffs further impeding world trade and stoking global inflation.

India’s GDP rose by 5.4% in July-September, the lowest rate in seven quarters, as weaker expansions in manufacturing and consumption hurt the economy.

Sources said the ideas put forward by the economists ranged from land and labour reforms to states taking the lead in easing regulations that are a constraining factor for businesses, sources said. Economists also spoke on the pace of fiscal consolidation, the need to lower personal income-tax rates, and tax incentives for companies employing women.

If there was one fiscal policy tool that dominated the discussion and engaged most, it was taxation — as many as 19 economists and senior government officials spoke on it — about how India is a heavily taxed country and how it needs to lower both direct and indirect taxes. For this, suggestions made by a few economists included lowering personal income-tax rates, and one economist even provided calculations about how a certain percent cut in income-tax rates could boost consumption by a definite percent.

“It was discussed that India is a heavily taxed country and how some tax rationalisation needs to be done for both direct and indirect taxes. It was suggested that GST rates could also be reduced apart from a tweak in personal income tax rates to boost consumption. Some corporate tax incentives were also suggested for entities, especially small and medium enterprises, employing women. For example, a 1 per cent corporate tax incentive could be given to SMEs employing a certain percentage of women in their total share of workers,” a person who attended the meeting said.

Another suggestion was about a jobs-linked incentive scheme, where companies get a payback in the form of a corporate tax concession in case they hire more people, the person said.

Modi said ‘Viksit Bharat’ can be achieved through a fundamental change in mindset which is focused towards making India developed by 2047. A statement issued by the Prime Minister’s Office said the meeting was held on the theme “Maintaining India’s growth momentum at a time of Global uncertainty”. “He emphasised that Viksit Bharat can be achieved through a fundamental change in mindset which is focused towards making India developed by 2047,” the statement said.

“Participants shared their views on several significant issues including navigating challenges posed by global economic uncertainties and geopolitical tensions, strategies to enhance employment particularly among youth and create sustainable job opportunities across sectors, strategies to align education and training programs with the evolving needs of the job market, enhancing agricultural productivity and creating sustainable rural employment opportunities, attracting private investment and mobilizing public funds for infrastructure projects to boost economic growth and create jobs and promoting financial inclusion and boosting exports and attracting foreign investment,” it said.

On the fiscal front, while some economists underlined the need to stick to the fiscal consolidation roadmap, there were others who suggested a minimal fiscal expansion. “Some suggested a fiscal deficit of 4.5 per cent (of the GDP), while the other view was to go in for a fiscal deficit of 4.6 per cent,” another person in the know said. The government has budgeted a fiscal deficit target of 4.9 per cent of the GDP for the ongoing financial year 2024-25 and aims to bring it lower than 4.5 per cent of GDP by financial year 2025-26.

The government should continue with its focus on capital expenditure, economists are learnt to have conveyed to the Prime Minister. This would also include focus on infrastructure projects including river interlinking.

Agriculture and climate change were discussed extensively in the meeting, with key recommendations made for crop rotation and diversification, water conservation and the need to plan against depletion of water tables and ensuring adequate availability of drinking water. “The interlinking of perennial rivers with other rivers to create adequate supply in water reservoirs was discussed in the meeting. This would require additional funds at state level and may need more extensive Centre-state discussions,” one of the persons cited above said.

The 19 economists who participated in the meeting were given five minutes each to speak and give suggestions for the Indian economy and the upcoming Budget. The meeting was attended by Finance Minister Nirmala Sitharaman, NITI Aayog Vice Chairman Suman Bery, Minister of State for Planning Rao Indrajit Singh, senior government officials and economists. Among the economists who participated in the meeting were Dr Surjit S Bhalla, Dr Ashok Gulati, Dr Sudipto Mundle, Dharmakirti Joshi, Janmejaya Sinha, Madan Sabnavis, Prof Amita Batra, Ridham Desai, Prof Chetan Ghate, Prof Bharat Ramaswami, Dr Soumya Kanti Ghosh, Siddhartha Sanyal, Dr Laveesh Bhandari, Rajani Sinha, Prof Keshab Das, Dr Pritam Banerjee, Rahul Bajoria, Nikhil Gupta and Prof Shashwat Alok.

Related

Tags: Budgetpm modi
ShareTweetSend
DNB ind News Desk

DNB ind News Desk

  • Trending
  • Comments
  • Latest
Yamaha MT-15 V2.0 launched in India, priced at Rs 1.60 lakh

Yamaha MT-15 V2.0 launched in India, priced at Rs 1.60 lakh

April 12, 2022
Shilpa Shetty to Tejasswi Prakash, These Stars Live Life Queen Size

Shilpa Shetty to Tejasswi Prakash, These Stars Live Life Queen Size

April 15, 2022
Saina Nehwal’s CWG and Asian Games title defense under threat due to THIS reason

Saina Nehwal’s CWG and Asian Games title defense under threat due to THIS reason

April 12, 2022

COVID-19 update: India records 7,579 new cases, 236 deaths in last 24 hours

0

Team India vice-captain Cheteshwar Pujara to carry ‘fearless mindset’ from England into NZ Tests

0

Breaking: Andhra Pradesh Assembly passes resolution, asks Centre for caste-based census of backward classes

0
Prime Minister Modi Pays Tribute to Mahatma Gandhi

Prime Minister Modi Pays Tribute to Mahatma Gandhi

January 30, 2025
IND vs ENG 3rd T20I | Varun Chakravarthy rewrites Kuldeep's record and maintains his strong play

IND vs ENG 3rd T20I | Varun Chakravarthy Rewrites Kuldeep’s Record and Maintains His Strong Play

January 30, 2025
Altman Plans to Visit India Amid Challenge From Chinese Artificial Intelligence: Report

Altman Plans to Visit India Amid Challenge From Chinese Artificial Intelligence: Report

January 30, 2025
Daily News Broadcast India

Copyright © 2023 Daily News Broadcast India.

Navigate Site

  • About
  • Advertise
  • Privacy & Policy
  • Contact

Follow Us

No Result
View All Result
  • Home
  • India
    • Politics
    • Business
    • World
  • Entertainment
    • Sports
  • Covid19
  • Business
  • Technology
  • Lifestyle

Copyright © 2023 Daily News Broadcast India.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?