Wed Dec 25 02:19:46 UTC 2024: **Modi Seeks Economic Advice Ahead of 2025-26 Budget**
New Delhi, December 25, 2024 – Prime Minister Narendra Modi convened a meeting on Tuesday with leading economists and sectoral experts at NITI Aayog to gather input for the upcoming 2025-26 Union Budget. The meeting, attended by Finance Minister Nirmala Sitharaman and other key officials, focused on key challenges facing the Indian economy.
Discussions centered on strategies to boost job creation, particularly among youth; enhance agricultural productivity and create sustainable rural employment; attract private investment and mobilize public funds for infrastructure development; and promote financial inclusion and exports. The meeting also addressed concerns around navigating global economic uncertainties and geopolitical tensions.
The Prime Minister emphasized the need for a fundamental shift in mindset to achieve the “Viksit Bharat” (Developed India) goal by 2047. This comes amidst concerns of economic deceleration, with recent growth figures revised downwards by the Reserve Bank of India and the Asian Development Bank. The ADB lowered India’s growth forecast for the current fiscal year to 6.5% and also reduced its projection for 2025-26.
The meeting included prominent economists such as Surjit S. Bhalla, Ashok Gulati, and Sudipto Mundle, among others. The 2025-26 Budget, to be presented on February 1st, 2025, will be closely watched for government responses to slowing growth and potential retaliatory tariffs from the United States.
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