October 11,2017: The newly constituted Economic Advisory Council to the Prime Minister (EAC-PM) will hold its first meeting today at NITI Aayog in New Delhi. The five member committee comprising 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.
Our correspondent reports, NITI Aayog Vice Chairman Bibek Debroy is heading 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.
AIR correspondent reports that 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 signals 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. (AIR NEWS)