Economic Advisory Council to the Prime Minister (EAC-PM) is going meet for the first time on Wednesday. The meeting of the EAC-PM will be chaired by NITI Aayog member Bibek Debroy. The Chief Economic Advisor to Ministry of Finance, Arvind Subramanian is slated to present at the first meeting along with others in the group that will include economists Surjit Bhalla, Ashima Goyal (part-time members), Rathin Roy, and Principal Advisor, NITI Aayog (member-secretary) Ratan Watal. As per the report by the Indian Express, growth acceleration and generation of employment will be high on the priority list during the EAC-PM meeting today. This advisory body was constituted last month after a gap of three years. The previous similar body exited with the UPA regime, according to the report by the Indian Express.
Here are top things to know about PM Narendra Modi’s Economic Advisory Council meet:
• During the presentation on the state of the economy, envisaged interventions for speeding up economic growth and employment are likely to figure high, as per the sources by the Indian Express.
• Developing a roadmap for accelerating employment generation will be high on the priority list of the council.
• As per the report, the advisory group is also likely to discuss evolving an ‘economy tracking monitor’ mechanism to inform the formulation of advice from the EAC-PM.
• For effective policy intervention advice, the council will identify a handful of broad groups, that would include skills, trade and commerce, infrastructure, and agriculture, digital economy and innovation ecosystem, among others.
• The EAC-PM is also likely to formulate a framework to engage with key stakeholders, institutions and growth drivers in a time-bound manner, as per the report.
• To further the objective of accelerating employment generation, the EAC-PM is likely to consider holding stakeholder meetings as well as meetings with clusters of states or ministries for an effective, coordinated approach.