New Delhi: The Prime Minister’s Economic Advisory Council (EAC) has spelt out a clear roadmap for expediting job creation, skill development and resource investment in the health and education sectors.
The EAC which is headed by Niti Aayog member Bibek Debroy, held its second meeting on Friday, where according to official sources, it also discussed the specifications for designing an ‘economy tracker’ which will monitor economic growth indicators with social indicators for last mile connectivity.
This newspaper had first reported about the EAC working on developing an economy tracker. Formed by Prime Minister Narendra Modi in September, the EAC had held its first meeting on October 11.
The NDA government is bullish on job creation as according to a recent UN report, unemployment in India is approximately 17.8 million in 2017. Also skill upgradation is urgently required, it noted.
The EAC also 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, sources informed further.
The council is learnt to have suggested that improvements are needed in National Accounts and innovative steps are required for unlocking growth, while exports and employment potential of growth drivers were also deliberated upon.
Presentations by experts were made to the Economic Advisory Council on key themes, including infrastructure financing by Mr Debroy. He underlined the need for infrastructure financing to be accorded high priority, with new mechanisms for a risk coverage umbrella.
Niti Aayog member Dr. Vinod K. Paul highlighted strategies for achieving Swastha Bharat by 2022.
Chief Statistician TCA Anant outlined improvements needed in National Accounts, complemented by the presentation by the Member Secretary EAC-PM Mr. Ratan P. Watal, who demystified issues on the current account deficit and the gold market. He also shared recommendations on the evolving framework for the Fifteenth Finance Commission.
