PM calls meet on economic issues today

By Sushma Ramachandran

NEW DELHI, SEPT. 3. With the long-awaited Cabinet reshuffle over, the Prime Minister, Mr. Atal Behari Vajpayee, has decided to put the process of economic revival on the fast track by convening a series of crucial meetings over the next few days. The most important one is being held tomorrow and the issue of kick- starting the economy will be discussed over a working dinner at the Prime Minister's house.

As many as 14 economic Ministers and the Home Minister, Mr. L.K. Advani, will attend what is being described as an ``internal meeting''. The only official present will be the Governor of the Reserve Bank, Mr. Bimal Jalan. The discussions are expected to focus on the need for fiscal stimulus to the economy and the role of the RBI in this. The meeting will be the first of its kind.

Official sources said here that it was time the economic agenda was given priority since key indicators were showing sluggishness in growth over the first five months of the current fiscal. The industrial output has slumped and exports have fallen by two per cent while both foreign and domestic investments have not picked up as expected.

This is apart from the urgent need to revamp the public distribution system and ensure that surplus foodgrains reached the poor to avert starvation deaths. Though the States are denying such deaths, it is clear emergency steps are needed to put more purchasing power in the hands of weaker sections.

In addition, a meeting of the Prime Minister's Trade and Industry Economic Advisory Council will be held on September 7, to be followed by the Economic Advisory Council on September 10.

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