PM Modi forms two high-level panels to boost economic growth, jobs

New Delhi, June 05: Prime Minister Narendra Modi on Wednesday constituted two new Cabinet committees under his chairmanship to boost economic growth and employment.

The Indian economy grew at a much slower-than-expected 5.8% in the January-March quarter of fiscal year 2018-19, government data showed last Friday. It was the slowest growth rate in more than four years in the January-March period, falling behind China's pace for the first time in nearly two years.

The figure meant India is no longer the world's fastest growing major economy; it is China, with 6.4 percent growth in the first quarter. India has fallen behind China's pace for the first time in nearly two years.

At the same time, the government's Ministry of Statistics put out figures that confirmed that unemployment was at a 45-year low.

How the new Cabinet Committee on Security will shape India's national security

The five-member Cabinet Committee on Investment and Growth includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Road Transport and Highways and of MSME Minister Nitin Gadkari and Railway Minister Piyush Goyal.

Another 10-member Cabinet Committee on Employment and Skill Development has been formed which includes Shah, Sitharaman, Goyal, Minister of Agriculture and Farmers Welfare, Rural Development and Panchayat Raj Narendra Singh Tomar, Human Resource Development Minister Ramesh Pokhriyal 'Nishank', Petroleum and Natural Gas Minister Dharmendra Pradhan, Minister Skill and Entrepreneurship Mahendra Nath Pandey and Ministers of State Santosh Kumar Gangwar (Labour) and Hardeep Singh Puri (Housing and Urban Affairs).

The Modi government won a huge majority despite concerns over jobs and economy.