homeeconomy NewsPM Modi forms two high level panels for key decisions on jobs, economic growth after dismal data
PM Modi forms two high-level panels for key decisions on jobs, economic growth after dismal data
Five days after announcing portfolios of his ministers, Prime Minister Narendra Modi has finalised the composition of key ministerial panels that will assist him in taking policy decisions. According to sources, Prime Minister Modi has formed at least two new ministerial panels for focussed policy priorities.
Five days after announcing portfolios of his ministers, Prime Minister Narendra Modi has finalised the composition of key ministerial panels that will assist him in taking policy decisions.
According to sources, Prime Minister Modi has formed at least two new ministerial panels for focussed policy priorities. A five-member ministerial committee on investment and growth that includes the Prime Minister will deal with key economic decisions. The members of this panel are Home Minister Amit Shah, Roads and MSME Minister Nitin Gadkari, Finance and Corporate Affairs Minister Nirmala Sitharaman and Commerce and Railways Minister Piyush Goyal.
Asia's third-largest economy grew at a much slower-than-expected 5.8 percent in the last quarter, the weakest growth in more than four years and far below the pace needed to generate jobs for the millions of young Indian's entering the labour market each month. And the unemployment rate rose to a multi-year-high of 6.1 percent in the 2017/18 fiscal year.
Another 10-member ministerial panel will delve into one of the most serious challenges that Modi 2.0 and his team faces -- creating employment avenues. This panel includes Home Minister Amit Shah, Roads and MSME Minister Nitin Gadkari, Finance and Corporate Affairs Minister Nirmala Sitharaman, Commerce and Railways Minister Piyush Goyal, AGRI and Rural Development Minister Narendra Singh Tomar, HRD Minister Ramesh Pokhriyal, Oil and Steel Minister Dharmendra Pradhan, Labour Minister Santosh Kumar Gangwar, Skill Development Minister Mahendra Nath Pandey and Aviation Minister Hardeep Singh Puri.
Both these panels will be feeding into the policy-making initiatives of the Modi Cabinet which has 24 cabinet ministers and nine Ministers of State with Independent Charge.
The key cabinet decisions that team Modi 2.0 will have to take in the near term include a new industrial policy, ecommerce policy as well as a new set of labour codes that will seek to recast age-old labour norms.
According to a government report that was made public recently, India's employment generation ability lost traction with a 6.1 percent unemployment rate in FY18.
First Published: Jun 5, 2019 6:22 PM IST
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