PM Modi to meet economists on June 22

New Delhi: Amid growing unemployment and sluggish economic growth concerns, Prime Minister Narendra Modi will hold a high level meeting with economists at Niti Aayog on June 22, during which the twin problem issues are likely to be discussed at length.

The Prime Minister's interaction comes in the wake of the fact that the unemployment rate in 2017-18 was 6.1 per cent, a 45-year high, and the  country's economic growth had fallen to 5.8 per cent in the January-March period of 2018-19, the lowest in 20 quarters.

Sources aware of developments said that the meeting is likely to focus on ways to counter the twin issues of unemployment and poor economic growth, the two main challenges before the NDA government, which last month returned to power at the Centre.

Also with the Prime Minister's economic advisory council, which had been created two years ago to come up with a credible roadmap to propel growth, not being able to come up with any concrete long term solutions, the NDA government in its second coming, has its hands full Bibek Debroy, a former member of Niti Aayog, who was heading the Prime Minister's economic advisory council, has been dropped from the government think tank, after it was reconstituted last week, even though all the other members including the vice chairperson have been retained.

This, sources said, is being seen as an indicator that the PMO is bullish on the economic agenda and wants results.

The Prime Minister, sources added, is likely to seek views of economists on both these concerns and discuss ways to tackle them.

The interaction is being seen as part of the government's efforts to prepare a long term blueprint to resolve the prickly issues.  

While the Narendra Modi-led government after first coming to power in May 2014, had launched a slew of welfare schemes, the lack of solid data on employment has further fuelled the debate on rising unemployment.

Moreover due to slowdown in investment and manufacturing growth, the GDP during 2018-19 grew only at 6.8 per cent, much lower than the Centre's own projection of 7.2 for the just concluded fiscal.