Economic Advisory Council met ahead of the Budget Session |
Just before the Last budget of the NDA Government the Economic Advisory Council met on sunday to access the current economic standing of the country. Ahead of the last budget of the National Democratic Alliance in Parliament on Feb 1, The Economic Advisory Council to the Indian Prime Minister met in New Delhi on Sunday and took stock of the state of the economy. The Council endorsed that the macroeconomic fundamentals of the economy are sound, but challenges remain, several of which are structural in nature. The Council felt that the exchange rate management of the rupee by the RBI has been sound despite the volatility in the price of crude oil. It noted that while the prospects for world economic growth does not look very promising, particularly in the advanced economics, there is sufficient amount of growth momentum in emerging market economies. Amongst the issues which were discussed include agricultural problems, investment trends, fiscal consolidation, interest rate management and credit and financial market issues.
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