EAC-PM

Households are now allocating a greater share of household consumption expenditure to non-food spending on consumables and services, and durable goods, according to a working paper of the Economic Advisory Council to the Prime Minister (EAC-PM). EAC-PM in a working paper titled 'Changes in Durable Goods Ownership in India: Analysis of the Household Consumption Expenditure Survey 2011-12 and 2023-24' on Friday noted that the share of of the monthly per capita expenditure (MPCE) spent on durables has risen in both rural and urban areas, with the rural share slightly surpassing that of urban households in many states. Further, in absolute values (rupees), spending has increased across all states and sectors, with higher absolute expenditure in urban households. "Consequently, a greater share of household consumption expenditure is now non-food spending on consumables and services, and durable goods. Consumables and services are the largest component of household spending in urban areas

PM EAC Chair Mahendra Dev said India must lift investment to 34-35% and raise savings to sustain 7%+ growth, stressing private investment, labour-intensive manufacturing and stronger exports

EAC-PM S Mahendra Dev said that exporters should focus on diversification of markets, while also pushing domestic consumption

India should negotiate a trade agreement with the US on its own terms, keeping in view the national interest, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev has said. Dev expressed hope that India will have an advantage over other countries on tariffs once the Free Trade Agreements (FTAs) are signed, and it would boost exports. "The overall approach of India is negotiating trade agreements with countries on its own terms and keeping in view the national interests. The negotiations are going on and the ultimate decision depends on the mutual interests of both countries," he told PTI. US President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Under the US-Indonesia trade pact, the Southeast Asian nation will provide complete access to its market to US products, while Indonesian goods would attract a 19 per cent duty in America. In addition, Indonesia has commit

Niti Aayog vice chairman Suman Bery was holding the position following the death of Bibek Debroy who died on November 1 last year

Uttarakhand performed better than Himachal Pradesh over the last two decades as it opted for planned industrialization in designated Industrial Estates as compared to its neighbour which asked the companies to buy land directly from farmers, an EAC-PM Working Paper said on Wednesday. The Paper titled 'The Great Convergence: A Case Study of Uttarakhand and Himachal Pradesh (2000 to 2020)' also said that the growth in the manufacturing sector had a multiplier effect on the overall economy of Uttarakhand, and its tax base. Co-authored by Shamika Ravi (Member, EAC-PM) and Alok Kumar (Principal Secretary, Industrial Development & MSME, Government of UP), the paper compares the growth and economic transformation of Uttarakahnd (UK) to that of HP over a period of two decades, examining the impact of Union Government's Concessional Industrial Package (CIP) for Hill States announced in 2003. With identical industrial policies but distinct and different land policies the trajectories for ..

NITI Aayog vice chairman Suman Bery has been given additional charge as the chairman of the Economic Advisory Council to the Prime Minister (EAC-PM) about a month ago, a senior government official said on Monday. He replaced Bibek Debroy, who died on November 1. Debroy, a key economic adviser to the prime minister whose prolific work included those related to economic theory, income inequality, and infrastructure financing, was admitted to the AIIMS on October 31. "Bery has been given additional charge of EAC-PM as its chairman about a month ago," the official told PTI. EAC-PM is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the prime minister. At present, the composition of EAC-PM is: Sanjeev Sanyal (member), Shamika Ravi (member), Rakesh Mohan (part-time member), Sajjid Chinoy (part-time member), Neelkanth Mishra (part-time member), Nilesh Shah (part-time member), T T Ram Mohan (part-time member) and .

In July, Chief Economic Advisor V Anantha Nageswaran pitched for excluding food inflation from policy formulation which set it a fierce debate in policy circles with RBI resisting any such move

Though Tamil Nadu's share declined, from 8.7 per cent in 1960-61 to 7.1 per cent in 1990-91, it saw a turnaround, with its share in the national GDP touching 8.9 per cent in 2023-24

Former P&G CEO Das, who proposed the idea, said this individual should be a leader who would coordinate among different entities to raise competitiveness of the economy

The urban population is more educated and generally has a different set of job preferences than the rural

Income generation must be the focus of policy

According to the report, while growth has taken place in terms of an increase in wages earned, the benefits of that growth have been concentrated and this has marginalised the poor further

While growth has taken place in terms of an increase in wages, the benefits of that growth have been concentrated and this has marginalised the poor, states 'The State of Inequality in India' report

It could be a new scheme or modified version of an existing employment programme, officials say

However, the finance minister has achieved a "balancing act" through her moves, Goyal said

Rathin Roy chats with Arup Roychoudhury about his life, his views on the slowdown and on economic policies in general

Efforts should be mounted to lower the interest rate burdens for borrowers, and RBI's pause had a "terrible" effect of costs for a third of borrowers going up by 0.25 per cent

A notification by the Cabinet Secretariat announced the addition of Neelkanth Mishra, Nilesh Shah, Anantha Nageswaran's names as part-time members of the EAC-PM

Sajjid Chenoy, India economist at JP Morgan is the new part-time member