PM Modi Meets Business Leaders
NEW DELHI: PM Modi meets business leaders on Monday, he held an extensive interaction with the top business stalwarts and discussed ways to improve job creation and economic growth.
Top business leaders who took part in meeting were Reliance Industries chairman Mukesh Ambani, Tata Sons chairman emeritus Ratan Tata, Mahindra group chairman Anand Mahindra, Adani Group chairman Gautam Adani, Sunil Mittal, Vedanta chairman Anil Agarwal, Bharti Enterprises chairman, L&T chairman AM Naik, Tata group chairman N Chandrasekaran, TVS chairman Venu Srinivasan along with others.
Sliding quarter after quarter, the GDP (gross domestic product) plummeted over 6 years low to 4.5% in the July-September quarter of the present fiscal. Moreover, most macro indicators continue to be in red or showing an only marginal uptick.
This has largely been associated with the slowdown in investment that has now broadened into consumption, driven by financial stress among the rural tribe and weak job creation.
The Reserve Bank of India (RBI) cut GDP growth last month forecast for the current economy to 5%. Most research and rating firms have amended their projections downward.
Seeking to push the sagging economy, the Indian government has lined up infrastructure projects worth Rs 102 lakh crore across 18 states and Union Territories (UTs) with the majority of the projects within the sectors of railways, urban development, health, water, and education.