The recently constituted Economic Advisory Council to the Prime Minister (EAC-PM) will hold its first meeting on 11 October 2017 to deliberate upon and lay out a road map to give a leg up to the Indian economy in the short term after GDP growth for the first quarter fell to a three-year low of 5.7%.
Key issues expected to come up for discussion include ways to boost consumer demand, attract private investments and measures to incentive job creation in the country. The council over a period of the next few months is also expected to outline the long-term measures for the economy, some of which could be reflected in the union budget next year.
The council has held a brainstorming session with stakeholders on Monday in the run-up to its first meeting which is expected to address all issues of emergent importance. The EAC is an independent body and is expected to provide advice on economic and related issues to the prime minister. The panel is also expected to address issues of macroeconomic importance. During the UPA government’s tenure, former RBI governor C Rangarajan was the chairman of the Prime Minister’s economic advisory council.