Narendra Modi prone to meet Finance Ministry officers on 20 June, to debate highway map for enhancing financial development

New Delhi: Ahead of the Budget, Prime Minister Narendra Modi is prone to meet all 5 departments of the finance ministry on 20 June to debate highway map for enhancing nation’s development and producing jobs.

According to sources, the GST Council’s assembly scheduled for 20 June has been deferred by a day in view of the premier’s assembly.

Modi is prone to talk about the highway map for each division and the agenda for rising income mop-up and taking reform steps to push GDP development which has slipped to a 5-year low of 6.eight % in 2018-19.

File picture of Prime Minister Narendra Modi. PTI

The assembly comes at a time when the finance ministry is within the technique of finalising the 2019-20 Budget, which will likely be unveiled by Finance Minister Nirmala Sitharaman on 5 July.

Among different points, the 100-day agenda for the Modi authorities would come up for dialogue. In April, the Prime Minister’s Office had requested all ministries to arrange agenda for the brand new authorities.

The 5 departments beneath the ministry are Economic Affairs, Revenue, Expenditure, Financial Services and DIPAM.

While Department of Economic Affairs is probably going to present a presentation on the state of the financial system, together with development, employment technology and inflation, Department of Revenue is prone to spotlight steps taken to extend the tax base, enhance compliance, and the highway forward for Goods and Services Tax (GST).

The Expenditure Department will speak about financial savings on account of Direct Benefit Transfer (DBT) and showcase allocations to numerous schemes and programmes of the federal government and steps taken to make sure that cash is spent for the earmarked functions.

Financial Services division on its half will speak about liquidity points and the issues being confronted by NBFC sector, banks and monetary establishments.

The Department of Investment and Public Asset Management (DIPAM) is prone to checklist the CPSEs which may go for disinvestment and strategic sale within the present fiscal.

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