NEW DELHI: In view of the current economic softening, the PMO is now in mission mode. The government, which has been facing constant criticism for the country's poor economic crisis, has now become serious in dealing with it. Over the past several days, there have been reports that many sectors have been forced to retrench due to their deteriorating conditions. The PMO will hold a meeting with top officials, including five secretaries of the Finance Ministry, on Saturday to discuss measures ranging from surcharge on wealthy income tax payers to auto and real estate sector to the slowdown. The meeting will be chaired by Principal Secretary in the PMO, Nripendra Mishra.
Sources said, the Finance Ministry officials are expected to present options and solutions to address the sluggishness in the auto and realty sector as well as the FPI-affected stock market. Finance Minister Sitharaman said on Friday in Ahmedabad that the ministry is currently in talks with the PMO in view of improving financial trends.
"I have met representatives of five different groups including banks, financial institutions, SMEs, industry and automobiles since Monday and heard their problems," he said. We are analysing what steps to take. "Yesterday (Thursday) we had a meeting with the PM on the economy. "This is being discussed. What steps should be taken? After preparation in this regard, we will make an announcement. The sluggishness in the economy is a huge challenge for the government. Because it is reducing the employment opportunities every day.
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