In Pre-Budget Meet, PM Modi Seeks Focused Effort From All Stakeholders Towards $5 Tn Goal

Economy

PM Modi chaired a meeting with various sectoral groups in a pre-budget exercise where he called for a focussed effort from all to achieve a $5 trillion economy.

Written By Digital Desk | Mumbai | Updated On:
PM Modi

PM Narendra Modi on Thursday chaired a meeting with various sectoral groups in a pre-budget exercise. He met various senior economists, private equity/venture capitalists, business leaders from manufacturing, travel & tourism, apparel and FMCG, analytics, subject experts in the fields of agriculture, science and technology and finance at Niti Aayog. In the meeting, PM Modi called for a focussed effort from all stakeholders in order to achieve the target of $5 trillion economy in India, said an official statement released.

'Idea of $5 trillion economy not a sudden development'

Prime Minister said that he was happy that the two-hour open discussion has brought to the forefront the experience of people on the ground and those working in their respective fields. He said that this would enhance the synergy between policymakers and various stakeholders. PM Modi said that the idea of $5 trillion economy is not a sudden development and that it is based on a deep understanding of the strengths of the country. He said that the strong absorbent capacity of the Indian economy shows the strength of basic fundamentals of the Indian economy and its capacity to bounce back.

'We must all work together' 

Prime Minister said that sectors like Tourism, Urban Development, Infrastructure, and Agri based industry have great potential to take forward the economy and for employment generation. He said that open discussions and brainstorming in such forums lead to a healthy debate and understanding of the issues. Prime Minister said that this would also foster a positive mood and “can do” spirit in the society. Stating that India is a land with unlimited possibilities he requested all stakeholders to do their bit to bridge the gap between reality and perception. He said, “We must all work together and start to think like a nation”

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Economists like Shankar Acharya, R Nagaraj, Farzana Afridi, Venture Capitalist Pradip Shah, Industrialists Apparao Mallavarapu, Deep Kalra, Patanjali Govind Keswani, Deepak Seth, Srikumar Misra, Subject Experts Ashish Dhawan and Shiv Sarin were among the 38 delegates who participated in the discussions.

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Minister for Home Affairs Amit Shah, Union Minister for Road Transport & Highways and MSME Nitin Gadkari, Minister for Railways and Commerce Piyush Goyal and Minister for Agriculture & Farmers Welfare and Rural Development, Panchayati Raj Narendra Tomar, Secretaries from various Ministries, Vice Chairman of NITI Aayog Rajiv Kumar and CEO of NITI Aayog Amitabh Kant attended the meeting.

READ | Big pre-budget Niti Aayog meeting; PM Modi & Amit Shah meet top economists

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