Second Economic Advisory Council meeting focuses on job creation, infra

The second meeting of the Economic Advisory Council to Prime Minister Narendra Modi on Friday spelt out a clear road map towards skill development, job creation; enhanced resource investment in the social sector- including for Health and Education and for boosting Infrastructure financing.

The meeting of the council chaired by Bibek Debroy formulated recommendations to guide the evolving framework for the Fifteenth Finance Commission, including the incentivisation of states for achieving health, education and social inclusion outcomes.

The council, however, is also evolving the design of a new economy tracking monitor, linking economic growth indicators with social indicators for last mile connectivity.

Improvements needed in national accounts and innovative steps for unlocking the growth, exports and employment potential of growth drivers were also deliberated upon - including through transformation of India's Gold Market.

The deliberations of the council took stock of the economic and social analysis done by the theme groups and evolving initiatives led by different members. It identified key issues, strategies and recommended interventions in respect of these themes.

Lead presentations to the Council were made by experts on key themes- including infrastructure financing by Debroy, who underlined the need for infrastructure financing to be accorded high priority, with new mechanisms for a risk coverage umbrella. Member of NITI Aayog, Dr. Vinod K. Paul highlighted strategies for achieving Swastha Bharat by 2022. The Skill Development Strategies were presented by Secretary Skill Development, KP Krishnan who highlighted convergent initiatives to reach out to youth and women.

The meeting was also attended by renowned economists Dr. Surjit Bhalla, Dr. Rathin Roy, Dr. Ashima Goyal, Dr. Shamika Ravi and Member Secretary and Principal Adviser NITI Aayog Ratan P. Watal.