PM's Economic Advisory Council

India needs to embrace new technology and can save up to Rs 20,000 crore by using AI for cargo handling at ports, said Member of Economic Advisory Council to PM Gourav Vallabh on Tuesday. Speaking at session 'AI-Powered Ports: Reimagining Efficiency and Operations' at the AI Impact Summit here, Vallabh said India is emerging as a global leader in the field of new technology. "There is an approximate saving by uses of AI of Rs 20,000 crore in our handling.. And every year we can save Rs 15,000 crore as far as the logistic cost is concerned," he said. The question is not whether AI will transform India's ports, Vallabh said adding "the question is whether we are going to lead it or not." He noted that India's logistics cost at 7.97 per cent of GDP is competitive, "but for Viksit Bharat 2047 aim, our ports should be intelligent and should have intelligent ecosystem." He said India needs accelerated policy initiatives to reduce the logistics cost. He pointed out that 95 per cent of

She said that with GCCs expanding into engineering, artificial intelligence, and emerging tech, there was a need for specialised courses to be brought in

Sanjay Kumar Mishra, a retired officer of the 1984 batch of the Indian Revenue Service, is an economic expert who has overseen numerous high-profile cases

EAC-PM study highlights reduced migration to metros, rise of counter-magnet cities, and calls for balanced urbanisation with jobs closer to rural and suburban areas

Mishra remembered the days of working with Debroy on policies, discussing various issues of economy and how they could be addressed

Data shows that around 7.5 million people have fallen into poverty in the past two years. However, this figure may not fully reflect Haryana's poverty situation due to registration limitations

West Bengal has experienced a continuous decline in its relative economic performance over several decades, according to a working paper by Economic Advisory Council to the Prime Minister(EAC-PM). Authored by EAC-PM member Sanjeev Sanyal, the paper 'Relative Economic Performance of Indian States: 1960-61 to 2023-24' said the development of eastern part of the country remains a concern. It said maritime states have clearly outperformed other states, with the exception of West Bengal. Although Bihar's relative position has stabilized in the last two decades, it remains significantly behind other states and requires much faster growth to catch up, the paper noted. Conversely, Odisha, traditionally a laggard, has shown a marked improvement in recent years. "West Bengal, which held the third-largest share of national GDP at 10.5 per cent in 1960-61, now accounts for only 5.6 per cent in 2023-24. It has seen a consistent decline throughout this period. "West Bengal's per capita income

Two members of the Economic Advisory Council to the Prime Minister (EAC-PM) have arrived in Nagaland on a five-day visit during which they will hold discussions with key stakeholders, and look at ways to bolster development of the region, officials said. The members Sanjeev Sanyal and Devi Prasad Mishra arrived in the northeastern state on Friday, a release issued by the Nagaland Planning & Transformation Department said. The visit focuses on catalysing economic growth and development in the region, and holds promise for strengthening vital sectors as well as forging collaborations, it said. The EAC-PM members will engage in extensive discussions with local entrepreneurs, government officials, business leaders and community representatives during their stay, the release said.

In his August 15 article, Bibek Debroy wrote, 'We the People have to give ourselves a new Constitution'

Farm reforms in India are pending even today since 1991, while neighbouring China implemented them way back in 1978, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman Bibek Debroy said on Friday. The reforms undertaken in India in 1991 were pertaining to external factors and industrial liberalisation, and were not related to agriculture, he said. Currently, agriculture has become unviable and even its share of the country's GDP is declining by 1 per cent per year even as a large percentage of the population is still dependent on this sector for their livelihood, he added. "Quite often in India, we compare with China. In 1978-79, China reformed agriculture. We are told that reforms in India were implemented in 1991 and pertain to the external sector and industrial liberalisation. Have the reforms in agriculture been introduced? Has agriculture been subjected to "de-licensing"? The answer is no," Debroy said in an agri-summit event organised by Businessline here. By a

Amid fears of the world slipping into recession, India will perhaps emerge as the strongest major economy with 7 per cent growth rate in FY23, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal said on Sunday. Sanyal observed that India can grow at 9 per cent in an external conducive environment like in early 2000s when the global economy was growing. "We are clearly entering an environment where many countries around the world will be facing much slower growth or even slipping into recession. "This is due to a combination of factors ranging from tighter monetary policy to higher energy costs, as well as disruptions caused by the Ukraine war," he told PTI in an interview. The World Bank on October 6 projected 6.5 per cent growth rate for the Indian economy for 2022-23, a drop of one percentage point from its June 2022 projections, citing deteriorating international environment. "Under those circumstances, India's performance will stand out as being .

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

Income generation must be the focus of policy

The govt appointed V Anantha Nageswaran as the next Chief Economic Adviser three days before the Union Budget. A peek into the life of this well-known commentator on topical economic developments

It also said the clear road map of privatisation and growth orientation of FY22 Budget should be maintained in FY23 as well

According to a Cabinet Secretariat notification, the Council would analyse any issue, economic or otherwise, referred to it by the Prime Minister

He is also the co-founder and a member of Board of Directors, NPS International School, Singapore

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

Asserts there is significant volatility in India's GDP growth, citing examples of rate being less than 5% in one quarter, and going up to 7% in the very next quarter

The set-up in Modi 1.0 and 2.0 is geared to sector-specific guidance rather than macro-economic counsel