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PM to meet economists, govt officials to review economy post demonetization

27 Dec 2016 Evaluate

Prime Minister Narendra Modi will be meeting economists and senior government officials at NITI Aayog on December 27, to review the economy and there will also likely be discussion on issues related to cash crunch post-demonetisation, though it’s not on the agenda. The theme of a high-level meeting is 'Economic Policy Reform, Road Ahead' and it will be the first such meeting after government's surprise move to demonetise high value currency notes on November 8.

Besides, Modi will also look into various initiatives of NITI Aayog to promote digital economy like Lucky Grahak Yojana and Digi Dhan Vyapaar Yojana to incentivise digital payments. He is also expected to seek views from economists on the Union Budget for 2017-18. The projected expenditure on the first phase of the schemes up to April 14, 2017 is expected to be Rs 340 crore.

The meeting assumes significance in view of various multilateral agencies and RBI lowering growth forecast for the current fiscal. Earlier this month, RBI had reduced the economic growth forecast to 7.1 per cent from 7.6 per cent in its monetary policy review. The Asian Development Bank (ADB) too projected a reduction in economic growth at 7 per cent for this fiscal year due to the impact of demonetisation.

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