Prime Minister reiterated the need to ‘bring more momentum’ to reforms in the EAC meeting. india news

PM reiterates need to 'bring more momentum' to reforms in EAC meeting
Prime Minister Narendra Modi met the Economic Advisory Council to discuss boosting India’s economic growth.

New Delhi: Prime Minister Narendra Modi Met members of the Economic Advisory Council on Saturday and underlined the need for further reforms for the second consecutive day.“Chaired the meeting of the Prime Minister’s Economic Advisory Council. Various issues related to India’s economic transformation and long-term development priorities were discussed. He also shared the outlook on adding more momentum to the reform journey and ensuring ‘ease of living’ as well as ‘ease of doing business’, he wrote on social media.Hours after the GDP numbers were released on Friday, Modi had underlined the need to make life easier for citizens and businesses. A few weeks ago, reforms in ministries were the main focus of conversation during the Council of Ministers meeting.Although he has signaled his government’s intention to pursue what he described as a “reform express”, the emphasis has repeatedly come amid global headwinds that are expected to weigh on economic activity. Government officials say economic activity has been steady so far, the fourth quarter shows GDP growth West Asia 7.8% despite conflict – the highest among major economies.Data from across industries – from auto to cement, Purchasing Managers Index, e-way bills and GST collections – indicate that the momentum has continued in the current financial year. Demand for work in MNREGA fell to -35.5% in April, marking the 10th consecutive monthly decline.While some FMCG players had reduced pack sizes fearing a slowdown in demand, consumer activity indicates that purchasing has not been affected, and has picked up in some sectors. But the Center is keeping all policy tools at the ready as it seeks to deal with the possibility of a weak monsoon, which could dampen demand and increase inflation in some sectors. The RBI and the government assess that inflation will remain within the tolerance range.

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