The first meeting of the newly constituted Economic Advisory Council to the Prime Minister (EAC-PM) will take place on Wednesday at NITI Aayog. The Council was set up with the approval of Prime Minister Narendra Modi on 26th September 2017 to halt the downhill movement of the Indian economy. India's GDP growth slumped to a three-year low of 5.7 per cent during the April-June period, lagging behind China for the second quarter in a row.
Key issues expected to come up for discussion include ways to boost consumer demand, attract private investments and measures to incentivise job creation in the country, ET reported.
The Economic Advisory Council has renowned economists and experts under the chairmanship of NITI Aayog Vice Chairman Bibek Debroy. Other members 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 analyse all critical issues, economic or otherwise referred to it by the Prime Minister, and advising him thereon. It is also required to address issues of macro-economic importance and presenting views thereon.
In line with its stipulated duties, the EAC has held a brainstorming session with stakeholders on October 9 in the run up to the first meeting of the Council. The Council address all issues of emergent importance, engage with a broad spectrum of stakeholders and formulate advice accordingly, said a government statement.