PM identifies major priorities for accelerating economic growth,
12 Oct. 2017
newly constituted Economic Advisory Council to the Prime Minister (EAC-PM)
is holding its first meeting today at NITI Aayog in New Delhi. The five
member committee comprising of reputed economists and experts was
constituted by the Prime Minister Narendra Modi on 26th of last month to
halt the downhill movement of the Indian economy.
NITI Aayog Vice Chairman Bibek Debroy is leading the council which include
Finance Secretary Ratan P Watal as Member Secretary, along with Surjit
Bhalla, Rathin Roy and Ashima Goyal as part-time members. The council is
mandated to analyze all critical issues, economic or otherwise referred to
it by the Prime Minister. It is also required to address issues of
macro-economic importance and presenting its views.
Today's meeting comes in the backdrop of increasing concerns over
declining GDP growth momentum. The slowing of GDP in June quarter
triggered concerns especially regarding flagging consumer demand.
The revival of the council indicates the government's effort to tap
economists for new ideas on the economy. The Council will address all
issues of emergent importance, engage with a broad spectrum of
stakeholders and formulate advice accordingly.
The newly set up Economic Advisory Council to the Prime Minister today
identified ten major priorities for accelerating economic growth and
employment generation over the next six months. The council held its first
meeting in New Delhi. Speaking to media after the meeting, Chairman of the
council, Bibek Debroy said the panel has picked ten issues to focus
These include economic growth, employment and job creation, integration of
informal sector,fiscal framework and monetary policy. He said that the
council will take inputs from RBI and Monetary Policy Committee while
considering issues related to monetary policy framework.
Mr. Debroy said patterns of consumption and production and social sector
are among other issues on which the council will work. The five member
committee comprising of reputed economists and experts was constituted by
the Prime Minister last month to halt the downhill movement of the Indian