PM calls NITI meeting to review economy amid currency crunch

December 23, 2016 19:14

Prime Minister Narendra Modi has called a high-level meeting at NITI Aayog on Tuesday to take stock of the economy and other important issues particularly the currency crunch post demonetisation.

Modi has called the meeting to seek feedback of NITI Aayog members, economists and top officials of various concerned ministries particularly Finance and Commerce & Industries, a highly placed source in the prime minister's office said.

The source said that the government is keen to chalk out a strategy to deal with adverse impact of currency crunch on the economy particularly on unorganised sector where people lost jobs because of currency crunch prevailing since November 8, 2016.

The meeting assumes significance in view of various multilateral agencies and the RBI lowering growth forecast for the current fiscal.

The RBI has reduced the economic growth forecast to 7.1 per cent from 7.6 per cent in its monetary policy review earlier this month.

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