PM's Economic Advisory Council to hold first meeting today

October 11, 2017 09:29

The first meeting of the newly-constituted Economic Advisory Council to Prime Minister Narendra Modi will be held today at the NITI Aayog.

The council, set up with the Prime Minister's approval on September 26, 2017 and comprising reputed economists and experts, will be chaired by Dr Bibey Debroy.

Principal Adviser of NITI Aayog Ratan P Watal will be the council'a member secretary and Dr Surjit Bhalla, Dr Rathin Roy and Dr Ashima Goyal its part-time members.

Sources said "accelerating economic growth and employment" appears to be a key issue on the table for the advisory group after the GDP growth registered a three-year low at the end of the first quarter of the current fiscal.

The advisory group is also likely to discuss evolving an 'economy tracking monitor' mechanism to inform formulation of advice from the EAC-PM. The proposed monitor mechanism is likely to be firmed within a fixed timeframe of a few months to help move ahead with focus on broad groups of areas that will need policy intervention.

Sources said although the EAC-PM is unlikely to formulate any immediate advice to the Prime Minister after its first meeting, it will identify a handful of broad groups skills, trade and commerce, digital economy and innovation ecosystem, infrastructure, and agriculture, among others for effective policy intervention advice.

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