Brookings India Director of Research, Subir Gokarn, was among the economists consulted by finance minister Arun Jaitley during a brain-storming session on how to increase productivity of the farm sector, improve quality of expenditure and strengthen the financial sector while kicking off preparations for the upcoming Budget.
With two successive deficient monsoons, the government is concerned about its impact on the rural income and demand, which has a multiplier effect on the economy.
The early consultation with economists would help the government prioritise policy measures during the current fiscal year as well as in the budget for next year.
Other economists called upon were Ajit Ranade, chief economist, Aditya Birla Group, and Rajiv Lall, vice-chairman IDFC Ltd.
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