Economists urge PM to hike spending on infrastructure

New Delhi, January 8

Prime Minister Narendra Modi on Friday said foreign investors had shown faith in India’s growth story as foreign direct investment (FDI) grew 11% between April and October last year despite global recession.Speaking to top economists in the run up to the Union Budget 2021-2022, the PM termed recent agricultural reforms as historic even as the Centre’s talks with farmers ended inconclusively for the eighth time today.

Sources said some of the top economists called upon the PM to push privatisation of government enterprises, tread cautiously on international arbitration issues and raise investment in infrastructure to boost investor confidence.

“Together with a fiscal stimulus, the government tried reform based stimulus, which was seen through historic reforms in agriculture, commercial coal mining and labour laws,” the PM said in the meeting organised by NITI Aayog.

Prime Minister Narendra Modi also flagged his vision behind Atmanirbhar Bharat. “The economic potential is set to be unleashed by the National Optical Fibre Network providing internet connectivity to some of India’s most remote areas,” he said. — TNS

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