PM Modi meets economists as govt gets ready to present Union Budget 2023

Prime Minister Narendra Modi on Friday met several prominent economists as his government gets ready to present the Union Budget for 2023-24 amid global headwinds emanating from geopolitical tensions, said sources.

Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget in the Lok Sabha on February 1. The minister has already met different stakeholders to elicit their views and suggestions for the Budget.

The Prime Minister's meeting was also attended by Union Finance Minister Nirmala Sitharaman and other senior government officials. Niti Aayog Vice-Chairman Suman Bery and other members were also present, said sources.

Economists who participated in the meeting, included Shankar Acharya, Ashok Gulati, and Shamika Ravi.

Several suggestions were made by economists during the meeting for boosting economic growth which is estimated to drop to 7 per cent in the current financial year from 8.7 per cent in 2021-22.

The economy is facing several challenges, including persistently high inflation, a depreciating rupee, and subdued growth in exports.

The ongoing Russia-Ukraine and disruptions in the global supply chains have adversely global economic growth.