NEW DELHI: Prime Minister Narendra Modi is reviewing the state of the Indian economy with the country’s top industry leaders, economists and policy planners in the wake of falling stock market, declining rupee, high level of corporate debts and drop in exports. Senior ministers, including Finance Minister Arun Jaitley, are assisting the Prime Minister along with Reserve Bank of India governor Raghuram Rajan.
Those attending the crucial meeting include well-known industrialists like Mukesh Ambani, Cyrus Mistry, Sunil Bharati Mittal, Kumar Mangalam Birla and heads of the apex chambers. Review of the Goods and Services Tax, billed as the most important tax reforms and the problems in acquisition of land for infrastructure and industrial projects along with high cost of capital are scheduled to be discussed, industry officials said. The Sensex has fallen by over 17 per cent in the recent past while rupee is trading at two year low in the face of aggressive withdrawal of funds from the emerging markets, including India. As much as Rs 15,000 crore were withdrawn from the Indian markets in August.
Other issues being discussed include revival of investment through increased government spending , disinvestment programme and faster environmental clearances for the crucial infrastructure projects. (AGENCIES)
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