SME Times News Bureau | 14 Jan, 2020
With Budget 2020-21 likely to lay out specific future
roadmaps for various sectors, the Cabinet Secretary has called for a meeting on
January 20 for further discussions on the 5-year Vision on growth and
investment, official sources said on Tuesday.
The meeting will be attended by Secretaries of the
various concerned ministries apart from the five Secretaries of the Finance
Ministry. The Cabinet Secretary will be taking presentations from the
sector-specific Committee of Secretaries (CoS) which will be the basis for
setting a five-year vision for various ministries and departments.
The Commerce, Micro, Small and Medium Enterprises
(MSME), Labour and Rural Development Secretaries will be attending the 5-year
Vision meeting, among others.
Prime Minister Narendra Modi last week called for a focused effort towards
making India a $5 trillion economy at an interaction here with economists, sector
experts and young entrepreneurs, ahead of the the Union Budget 2020-21
presentation next month.
India's quarterly GDP growth rate fell to a low of 4.5 per cent in the second
quarter, while the latest official estimates show growth for the fiscal dropping
to 5 per cent, from 6.8 per cent in 2018-19.
The sources said that such high-level meetings would be take place frequently
as part of the all out effort through 5-year vision roadmaps to reach the $5
trillion economy target. The January 20 meeting will be chaired by Cabinet
Secretary Rajiv Gauba.
The Prime Minister recently said that the idea of a becoming a $5 trillion
economy is not a sudden development but is based on a deep understanding of the
country's strengths.
He also said the strong absorbent capacity of the economy shows the strength of
its fundamentals and of the capacity to bounce back.
