NEW DELHI, May 19:
The Cabinet Secretariat has asked all departments, including the Commerce and Industry, to keep a presentation ready for appraising the new Prime Minister of their achievements and fresh steps needed.
“The presentation next week by respective secretaries will include things like five important achievements, failures and steps the department would like to take in order to boost the country’s economic growth,” an official source told PTI.
The Department of Industrial Policy and Promotion (DIPP) has prepared about 30-32 ideas to present before the new Prime Minister, sources added.
Narendra Modi, who led BJP in the just concluded Lok Sabha elections, is the prime minister elect. BJP won 282 seats out of 543.
The presentations assume significance as the new Government is expected to initiate strong steps to boost the country’s economy and create more jobs.
RBI Governor Raghuram Rajan had recently said that the new Government would face four big challenges — subdued growth, the fiscal and current account deficits and sticky inflation.
India’s economy expanded 4.9 per cent in 2013-14 after slipping to a decade-low growth of 4.5 per cent in 2012-13. Growth in this financial year is estimated at 5 per cent.
Inflation has remained above the Reserve Bank of India’s comfort level of 5 per cent. While inflation as measured by the wholesale price index eased to 5.2 per cent in April, retail inflation was high at 8.59 per cent. (PTI)
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