Finmin, PMO to work on key sectors to push for growth, jobs
10/06/2019 12:38

Finance Ministry and PMO have decided to implement the suggestions and consultations from experts, industry and citizens on sectors and segments that are in need of urgent attention in the Budget to help the economy recover from a 17-quarter low 5.8 per cent growth, and 45-year high 6.1 per cent unemployment rate.

Ministry stated that it is working on these issues to tackle the slowdown and higher allocations wherever needed will be provided over and above what was provided in the Interim Budget.

PM Modi appointed two new cabinet committees, last week, to tackle economy and jobs. The first panel of the Cabinet Committee is working on Investment and Growth to suggest steps to push growth momentum in the economy and increase investment in key economic sectors like infrastructure and agriculture. The second panel, a 10-member Cabinet Committee on Employment and Skill Development is to explore ways to create more jobs.

The government decision for extending the benefits under PM-KISAN scheme to all the farming households in the country and for a new pension scheme for 5 crore farmers are cases in that direction, has also been pointed out.

PM-KISAN scheme has been extended to all 14.5 crore farmers costing Rs 87,000 crore a year and pension scheme of over Rs 10,000 crore already announced for 5 crore farmers.

Nirmala Sitharaman, Finance Minister, has called a meeting of leading industry chambers CII, Ficci, Assocham on June 11, 2019 and citizens have also been asked to send their comments by June 20, 2019.

As per the interim Budget presented by the previous NDA government on February 01, 2019, major announcements will be made in the regular Budget.

First session of the newly elected 17th Lok Sabha will be held from June 17, 2019 to July 26, 2019.