Debroy said after the first meeting of the council on

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Debroy said after the first meeting of the Council on Wednesday. “However, we will not be sharing what these reasons are, other than to the PM,” said Mr. Debroy, who is also a member of the NITI Aayog. The five-member Council was unanimous that the government shouldn’t stray from the path of fiscal consolidation, thus ruling out a fiscal stimulus to reverse the downturn in the economy . The Council would initially focus on 10 themes. The priority areas include economic growth, employment and job creation, informal sector and integration, fiscal framework, monetary policy, public expenditure, institutions of economic governance, agriculture and animal husbandry, patterns of consumption and production, and the social sector. Stressing that there is no good data regarding jobs, employment and unemployment, Mr. Debroy said the only good way to obtain satisfactory jobs data is through household surveys and that the previous National Sample Survey was released in 2011, and the next one will release data only in 2018.
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CURRENT AFFAIRS OCTOBER 2017 65 | Page 9004078746 [email protected] Factory output at 9-month high in Aug; retail inflation remains flat in Sept The country’s factory output measured in terms of Index of Industrial Production (IIP), recorded a nine-month high growth of 4.3% in August thanks to the robust performance of mining and electricity sectors as well as capital goods , according to data released by the statistics ministry. It was meager 0.94% in July 2017. However, experts are doubtful whether the uptick would sustain in September. Appreciable strengthening of the industrial growth in August 2017 from the mild 0.94% in July 2017 was on expected lines, as restocking of manufactured items gained steam following the introduction of the GST and prior to the festive season. Moreover, mining and electricity sectors recorded healthy performances on the back of coal and thermal electricity. Meanwhile, beating expectations retail inflation measured in terms of Consumer Price Index (CPI), remained flat at 3.28% in September , following the August numbers being revised to 3.28% from the earlier projected 3.36%. However, economists expect retail inflation to rise soon. Buoyant exports help shrink trade deficit to 7-month low Goods trade deficit in September narrowed to a seven-month low of $8.98 billion with exports, that surged by 25.7% to $28.6 billion, outpacing imports that rose 18.1% to $37.6 billion, according to government data released by the Commerce Ministry. The Commerce Ministry said all the top 10 commodity groups of exports had shown positive growth in September 2017 over the year earlier period — comprising 82.14% share of total exports. Engineering sector had been among the brightest spots with demand for the entire metal pack picking up along with industrial goods.
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