A paper by the Economic Advisory Council to the Prime Minister recommends revising priority sector lending. Instead of optimising mainly for economic efficiency, it argues the system should better serve social equity. The proposal also suggests removing outdated categories, aiming to reduce rigidity and give banks more flexibility in meeting priority targets.
Economic Advisory Council to the Prime Minister chairman S Mahendra Dev says India must proactively map and monitor economic vulnerabilities across energy, food and other key areas. In remarks to PTI, he cited the ongoing West Asia conflict as a real-world stress test, calling for a forward-looking risk management approach rather than reacting after disruptions hit supply and prices.
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