Government Budgets

PMO seeks inputs from economists to stem slowdown, raise profitability

  1. PMO is seeking inputs from govt economists to reassess both the fiscal and monetary policy issues.
  2. There has been a slowdown in India’s nominal GDP growth with latest estimates from the Central Statistics Office.
  3. The Finance Ministry’s mid-year analysis has also put the slowdown into the spotlight.
  4. The mid-year analysis underscored the need for “carefully reassessing” both fiscal and monetary policy stances.
  5. The reason due to which the slowdown in the nominal GDP growth is more pronounced is the decline in the GDP deflator.
  6. The PMO’s move to gain insight into the state of the economy is expected to lead to corrective changes.

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