Top bureaucrats take stock of economic situation

Meeting comes a day after Manmohan Singh called for reversing the mood of pessimism

PTI | June 28, 2012



The day after Prime Minister Manmohan Singh called for reversing the mood of pessimism, top bureaucrats on Thursday took stock of the economic situation with secretaries of various ministries to firm steps for arresting the slowdown in growth.

"Cabinet Secretary (Ajit Seth) took meeting of secretaries of economic ministries. We took stock of the current economic situation," a senior official said, after the meeting.

Among others, the meeting was attended by Finance Secretary R S Gujral, Economic Affairs Secretary R Gopalan, Commerce Secretary S R Rao, Industry Secretary Saurabh Chandra and Power Secretary P Uma Shankar.

The meeting of top bureaucrats comes a day after Singh, who assumed charge of the Finance Ministry after Pranab Mukherjee quit to contest for Presidential election, has called for reversing the climate of pessimism and regeneration of "animal spirit" in the economy.

India's economic growth during 2011-12 slipped to 9-year low of 6.5 per cent and the current fiscal it is not expected to do much better. The domestic currency too has depreciated sharply in the recent weeks going below Rs 57 to a dollar.

Singh yesterday held meetings with key economic advisors including PMEAC Chairman C Rangarajan, Planning Commission Deputy Chairman Montek Singh Ahluwalia and Chief Economic Advisor Kaushik Basu.

Comments

 

Other News

Who checks the books?

I read about the news about the Coimbatore library over coffee this morning. On the face of it, the headline was about a political ‘war’ between the DMK and TVK. But what stayed with me was something much more important than the blame game behind what had transpired. A writer walking through

Development paradox: Falling poverty miracle and an inequality problem

India’s reduction in poverty over the past decade is a development achievement of considerable significance. The World Bank’s April 2026 ‘India Development Update’ estimates that the share of Indians living below the international extreme-poverty line of $3.00 per person per day i

In Arunachal, a river we call mother

In Arunachal Pradesh, the Siang is not just a river. For many of us, especially the Adi people, it is part of our family. Our grandparents fished in it. Children learned to swim in it. Our farms drink from it. When someone says a huge dam will be built on it, we do not hear the word "project".

A new retelling of the Mahabharata delves into key moments

In a time when every decision carries consequences and questions of ambition, power, loyalty, identity and moral choice continue to shape our lives, Dr. Arun Krishnan’s new book, ‘Mahakshana’ (Penguin India) offers a strikingly relevant retelling of the Mahabharata.  

Cabinet approves viability gap funding to develop grid-scale energy storage systems

The Union Cabinet, chaired by PM Narendra Modi, has approved the Viability Gap Funding (VGF) Scheme for Development of Grid-Scale Energy Storage Systems, with a total financial support of Rs.14,500 crore for the period FY 2026-27 to FY 2030-31. The scheme aims to support the development o

Cabinet creates a pathway to absorb Agniveers in Defence Forces

An objective assessment in terms of organisational requirements and operational efficiency has brought out the outstanding performance of Agniveers in terms of skills, motivation levels, physical fitness and technological prowess. As envisaged earlier, based on merit, 25% of Agniveers will be offered reg

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter