Public, private sectors need to leverage synergy and think out-of-the-box, says

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Modi meets economists seeking suggestions for the Budget

By BL New Delhi Bureau

Updated - January 17, 2023 at 12:54 AM.

Prime Minister Narendra Modi

Prime Minister Narendra Modi on Friday called for out-of-the-box thinking by both public and private sectors io mitigate the risk and seize the opportunities available globally.

Modi held an interaction with economists at NITI Aayog. The meeting, with a theme of ‘India’s growth & resilience amidst global headwinds’, was called to get suggestions for the Budget. The Union Budget for FY24 is expected to be presented on February 1.

According to a statement issued after the meeting, the Prime Minister noted that while there were risks, the emerging global environment offers new and diverse opportunities in areas such as digitisation, energy, healthcare and agriculture. “To seize these opportunities, public and private sector need to leverage synergies and think out of the box,” the statement quoted the Prime Minister

Digital story

Modi applauded the success of the India Digital story and the rapid adoption of fintech across the country, and the potential for inclusive growth and development it promises. He underscored Nari Shakti as a key driver of India’s growth and urged to continue making efforts to further enable and boost women’s participation in the workforce.

In the ongoing International Year of Millets, Prime Minister highlighted the need to promote millets in view of their potential to transform the rural and agri sector, with their attributes such as being carbon neutral, conducive to natural farming, and affordable source of nutrition.

Participants in the meeting offered practical measures on ways in which India could prudently sustain its development momentum. Ideas and suggestions were shared with the Prime Minister on diverse topics ranging from agriculture to manufacturing. Recognising that the underlying global headwinds are likely to continue, strategic recommendations were also shared for further strengthening India’s resilience. There was agreement that due to its resilience, India has emerged as a bright spot on the turbulent global stage. It was suggested that new growth impulses would need to build upon this foundation through holistic development across all sectors. 

The meeting was attended by Finance Minister Nirmala Sitharaman, Minister of State for Planning (I/C), Rao Inderjit Singh,Vice-Chairman of NITI Aayog, Suman Berry, and Principal Secretary to Prime Minister, P K Misra beside Members of NITI Aayog, Cabinet Secretary, Chief Economic Adviser and CEO, NITI Aayog.

Published on January 13, 2023

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