NITI Aayog's Interactive Session on Economic Policy

Union Budget

NITI Aayog Vice Chairman Rajiv Kumar on Wednesday said the government will now focus on raising the incomes of farmers.

After the presentations, PM Modi assured the experts that the government will "attempt to make the best out of their informative suggestions and views which were presented in new ways through this initiative".

Another expert pointed out that more than 20 percent educated youth were unemployed.

"The suggestions from experts included those for the forthcoming budget as well as for longer term structural reforms", said Kumar. And the numbers are startling and not as disappointing as showed by the Labour bureau, he said.

Ahead of the Union Budget, Modi brainstormed with economists and experts on the state of the economy as the government looks to revive growth which is estimated to hit a four-year low.

The Budget will be presented on February 1.


Finance Minister Arun Jaitley thanked the participants for their thought-provoking suggestions.

The meeting was organized by NITI Aayog, on the theme "Economic Policy - The Road Ahead".

The key sectors for discussion included macro-economy, agriculture and rural development, employment, health and education, manufacturing and exports. This can be brought about by improving productivity, lowering costs, greater efficiency, giving much greater market access to farmers, making them producers of products rather than commodities. It also discussed the issue of long term capital gains tax but no details were available.

The bill seeks to replace the Medical Council of India and also proposes allowing practitioners of alternative medicines, such as homoeopathy and ayurveda, practise allopathy after completing a "bridge course".

Earlier last week, the Central Statistics Office (CSO) released the first advance estimate that indicated a low 6.5 per cent growth figure mainly due to slowed performance of manufacturing and agriculture.

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