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FM Arun Jaitley cancels meeting with economists ahead of Budget

Besides Jaitley, Minister of State for Finance Jayant Sinha and other senior officials of the finance ministry were scheduled to attend the meeting with economists.

By: ENS Economic Bureau | Published: February 26, 2016 1:28:14 am
Finance Minister Arun Jaitley poses for a group photo with the members of the Economic Division who assisted in the preparation of Economic Survey in New Delhi on Thursday. CEA Arvind Subramanian is also seen. (Source: PTI) Finance Minister Arun Jaitley poses for a group photo with the members of the Economic Division who assisted in the preparation of Economic Survey in New Delhi on Thursday. CEA Arvind Subramanian is also seen. (Source: PTI)

Late on Thursday evening, the finance ministry issued a statement saying the meeting of finance minister Arun Jaitley with economists slated for Saturday has been cancelled. Earlier in the day, they had issued a statement saying the meeting was “relating to Economic Survey”, and not Union Budget.

“Due to pressing engagements of the finance minister Arun Jaitley relating to Budget, the meeting scheduled on Saturday, February 27 with economists, financial experts and editors stands cancelled,” the ministry said in a statement.

Besides Jaitley, Minister of State for Finance Jayant Sinha and other senior officials of the finance ministry were scheduled to attend the meeting with economists.

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The finance ministry had sent out invitations over e-mail on Tuesday for the 90-minute meeting to economists, market experts and editors. While detailing the agenda for the meeting, the ministry had earlier stated, “CEA may brief the participants about economic situation both global and domestic, and may also brief about the economic analysis of micro and macro economic situation made in Survey and the likely state of economy in coming year and the steps to deal with the same.” The Economic Survey will be presented in Parliament on Friday.

The bond yields rose on Thursday amid speculation if the meeting had been called to discuss concerns on fiscal deficit. The benchmark 7.59 per cent government security maturing in 2026 declined to Rs 98.15 from Rs 98.34 Wednesday, while its yield firmed up to 7.86 per cent from 7.83 per cent.

The domestic currency also slipped on Thursday to end at a fresh 30-month low of 68.72 to the dollar — its weakest level this year so far.

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