Motilal Oswal
    NIFTY 50
Motilal Oswal

PM Modi's Economic Review Meet: Here are the key points to take note of

Updated : September 14, 2018 10:35 AM IST

Prime Minister Narendra Modi will hold an economic review and a crucial meet with the top officials on Saturday.

The meeting is to analyse the health of the economy and decide if any intervention measures are required to stem the fall of rupee and rising oil prices.

Here are the key points to take note of:

  • The sense is that there is no need for a knee jerk reaction on the rupee because the economic fundamentals continue to remain strong.

  • The finance ministry is clear that it wants to stick to the fiscal deficit target but it is an election year so eventually this will require a political support and a political call.

  • The demand was for centre to cut excise on fuel by Rs 2, states by Rs 2 and OMCs by Re 1.

  • However, the finance ministry believes it’s not advisable to go back to a subsidy sharing mechanism by oil companies.

  • The government is weighting options on oil payment for Iran crude.

  • It hopes dialogue with US on continuing Iran crude imports will be fruitful.
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV