PM goes into a huddle with Jaitley, Shah over slowdown

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  • Measures to stimulate economy expected; GST Council meets today

A day after promising to take all necessary steps to revive the economy and fix the problems faced by businesses on account of the switchover to the Goods and Services Tax regime, Prime Minister Narendra Modi held extensive talks with BJP president Amit Shah and Finance and Corporate Affairs Minister Arun Jaitley on Thursday.

FinMin skips WEF meet

The top-level discussions could be a precursor to some relief measures that may be announced as early as Friday when the GST Council meets in the capital, as the discussions stretched till late evening, compelling Mr. Jaitley to skip the World Economic Forum’s India Economic Summit. Mr. Jaitley was scheduled to address about 450 delegates at the summit to discuss India’s economic, political and social outlook from 7.15 p.m. till 8 p.m.

Lack of jobs

Incidentally, at least two of the co-chairs of the Summit voiced concern about the lack of jobs, layoffs among top firms and the lack of easy bank credit for small and medium enterprises.While Mastercard US president and CEO Ajay Banga said that jobs were the one challenge that India needed to address, Bharti Enterprises chairman Sunil Bharti Mittal voiced concern about ‘employment reduction’ by the top 200 Indian firms and mooted a rethink on businesses’ approach to society.

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