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The Union Finance Minister Shri Arun Jaitley holds his 5th Pre-Budget Consultation Meeting with the leading Economists;

Budget - Dated:- 11-12-2017 - FM states that despite subdued global economic growth, India s growth remains impressive and one of the best in the world during the last three years; Growth of Second Quarter of the Current Financial Year 2017-18 marks the reversal of the declining trend of growth witnessed in the last few quarters; FM: We are following the roadmap of fiscal consolidation. The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that despite subdued global economi .....

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Quarter of the Current Financial Year 2017-18 marks the reversal of the declining trend of growth witnessed in the last few quarters. The Finance Minister further said that we are following the roadmap of fiscal consolidation under which the fiscal deficit as a ratio of GDP stood at 3.9% in 2015-16 and 3.5% in 2016-17 and is budgeted to be 3.2% for the Current Financial Year 2017-18. The Finance Minister Shri Jaitley further said that we have been able to achieve these fiscal targets due to foc .....

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y Council to the Prime Minister (EAC-PM), Dr. Hasmukh Adhia, Finance Secretary, Shri A.N. Jha, Secretary, Expenditure, Shri Subhash Chandra Garg, Secretary (Economic Affairs), Dr. Arvind Subramanian, Chief Economic Adviser (CEA), Shri Sushil Kumar Chandra, Chairman, CBDT and other senior officers of the Ministry of Finance. The Economists present during the aforesaid Meeting included Dr. Rathin Roy, Director, NIFP, Shri Sajid Chinoy, Chief India Economist, JP Morgan, Mr. Jean Dreze, Delhi School .....

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gal, Lead Economist, World Bank, Mr. Partha Mukhopadhyay, Center for Policy Research and Mr. Rajat Kathuria, Director and Chief Executive, ICRIER among others. A number of suggestions were given by the participating Economists and other economic experts. Some of the major suggestions included that in the forthcoming Budget, the Government should continue to follow the path of fiscal consolidation and in case, there is any shortfall due to any reasons in achieving the fiscal targets, the same the .....

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estment of Public Sector Units (PSUs) as it will provide extra revenue for bridging the fiscal gap and meeting the expenditure needs. Another suggestion was made to raise old age pension from existing ₹ 200 to ₹ 500 and Widow Pension from ₹ 300 to minimum ₹ 500. It was also suggested that Maternity Entitlement Benefits be fully implemented and be extended up to two children. Besides, the payment system for these Social Security Schemes also need to be streamlined. Another .....

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. It was also suggested that the Tax Administration need to be made more tax payers friendly. It was suggested that Crop Insurance Scheme be relooked and be made more effective. It should cover not only the crop failure but also the price failure. It was suggested to issue long term New India Bonds to finance pension and infrastructure. It was also suggested to set-up National Level Investment Promotion Body to promote private investment through policy reforms and incentives. It was also suggest .....

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