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As India’s economy stagnates, PM Modi revives UPA’s Economic Advisory Council

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Narendra Modi

[vc_row][vc_column][vc_column_text]The five-member panel will be headed by Bibek Debroy and include Surjit Bhalla, Rathin Roy, Ashima Goyal and Ratan Watal

Three years into his government, hit by predictions of an impending doom in the Indian economy – wounded severely by demonetisation and a hasty rollout of the Goods and Services Tax (GST) regime – Prime Minister Narendra Modi has revived the UPA government’s ‘think-tank’, the Economic Advisory Council, to help him steer the nation back to a growth trajectory.

Of course, the EAC predictably has as its members economists who are more aligned with the Modi regime’s ideas of economic reform and development, unlike the several panels that existed for different spans of time under former Prime Minister Dr Manmohan Singh’s UPA government wherein members were often picked not purely for their ideological affiliations with the ruling party but for their expertise in different fields of the economy.

Nevertheless, Modi’s decision to revive the EAC with NITI Aayog member Bibey Debroy as its head is a significant move that – despite claims by the Prime Minister, finance minister Arun Jaitley, other senior ministers and BJP members – can be seen as the Prime Minister’s tacit admission of the fact that India’s growth story has taken a hit and needs expert ‘advise’ for revival.

Besides Debroy, who as member of NITI Aayog (Prime Minister’s redesigned version of the erstwhile Planning Commission) worked on several ideas on economic reforms that Modi held dear, other EAC members are Surjit Bhalla, development economist Rathin Roy and macro-economics expert Ashima Goyal. Ratan Watal, principal advisor to the NITI Aayog and a former finance secretary, will serve as the member-secretary of the panel.

The EAC members, all of whom seem well aligned with Modi and finance minister Arun Jaitley’s idea of a making India’s economy more liberal (read: pro-market, pro-private sector and disinvestment), are expected to work closely with the NITI Aayog and senior bureaucrats of the Union finance ministry, including the government’s chief economic adviser Arvind Subramaniam and principal economic adviser Sanjeev Sanyal.

“Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister. This could be either suo-motu or on reference from the Prime Minister or anyone else,” is the key term of reference for the panel.

Taken at its face-value, the EAC appears to be the perfect team of economists who can draft a blueprint for reviving investor sentiment in the nation’s economy and suggest policy reforms that are in line with Modi’s vision (the this may be a matter of concern for many given the country’s experience in dealing with the Prime Minister’s demonetisation idea).

However, it may be worth exploring whether the constitution of the EAC – belated as it is – at a time when the government has less than two years left in power, will actually have enough time to realize its objectives. More importantly, given the slew of Assembly elections due across the country in the run up to the mega general election scheduled for April-May 2019 and the political compulsion of governments to adopt populist economic policies over pragmatic ones in state/union budgets that precede these polls, it remains to be seen whether the EAC will actually accomplish anything more than just filing copious reports on its recommendations.

The decline in India’s economy – despite contrary claims made by Modi and Jaitley – is more than evident and the recent figure of GDP growth rate declining to 5.7 per cent in the last quarter – falling to a three-year low – endorses this notion comprehensively. Besides just boosting figures and data, which mean little to a common man who doesn’t understand economic jargon, the major challenge for the EAC would be to suggest way of boosting India’s stagnant job market. All indications are that the Congress and opposition’s attack on the BJP during polls would include lack of jobs and the resultant unemployment as potent ammunition.

Modi doesn’t have the drawback that his predecessor, Dr Manmohan Singh, was constantly bogged down by – having to accommodate views of the National Advisory Council headed by UPA chairperson Sonia Gandhi and comprising activists who wanted the government to focus more on social empowerment, often at the cost of economic progress. But given the Prime Minister’s style of functioning, the bigger question seems to be whether he will actually be open to advise given by his council of economic advisors.[/vc_column_text][/vc_column][/vc_row]

India News

PM Modi greets nation on 77th Republic Day, calls for renewed resolve towards Viksit Bharat

PM Modi greeted the nation on the 77th Republic Day, calling the occasion a symbol of India’s pride and urging citizens to renew their commitment towards a Viksit Bharat.

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PM Modi

Prime Minister Narendra Modi extended greetings to the nation on the occasion of the 77th Republic Day, urging citizens to renew their collective resolve towards building a developed India.

In a message shared on X, the Prime Minister said Republic Day symbolises India’s pride and honour and should infuse new enthusiasm among citizens. He added that the national festival must strengthen the resolve for a Viksit Bharat.

Republic Day is observed annually on January 26 to commemorate the adoption of the Constitution of India in 1950, marking the country’s formal transition into a sovereign, socialist, secular and democratic republic. The day holds historic importance as it reflects the culmination of India’s freedom struggle and the foundation of constitutional governance based on justice, liberty, equality and fraternity.

Grand celebrations at Kartavya Path

President Droupadi Murmu will preside over the Republic Day celebrations at Kartavya Path in New Delhi. The President of the European Council, Antonio Costa, and the President of the European Commission, Ursula von der Leyen, are attending the event as chief guests.

Kartavya Path, stretching from Rashtrapati Bhawan to the National War Memorial, has been extensively decorated to reflect India’s journey of progress and achievement.

According to the Ministry of Defence, this year’s celebrations will showcase a blend of the 150-year legacy of the national song Vande Mataram, India’s development journey, military strength, cultural diversity and participation from people across the country.

Parade highlights and ceremonial traditions

The ceremony will begin at 10:30 am and is expected to last around 90 minutes. Prime Minister Modi will first visit the National War Memorial to pay homage to fallen soldiers by laying a wreath. He will then proceed to Kartavya Path along with other dignitaries to witness the parade.

The President of India, along with the European Council and European Commission presidents, will arrive in the traditional buggy, escorted by the President’s Bodyguard, the senior-most regiment of the Indian Army.

As per tradition, the National Flag will be unfurled, followed by the National Anthem and a 21-gun salute using indigenously developed 105 mm Light Field Guns. The salute will be presented by the 1721 Ceremonial Battery of the 172 Field Regiment.

Tableaux reflect self-reliance and cultural heritage

A total of 30 tableaux — 17 from States and Union Territories and 13 from Ministries, Departments and Services — will roll down Kartavya Path. The themes include Swatantrata ka Mantra: Vande Mataram and Samriddhi ka Mantra: Aatmanirbhar Bharat.

The tableaux will present a visual narrative of the legacy of Vande Mataram, India’s rapid development and the spirit of self-reliance, along with the nation’s rich cultural diversity.

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India News

India marks 77th Republic Day with grand parade at Kartavya Path

India marked its 77th Republic Day with a grand parade at Kartavya Path, highlighting military strength, cultural unity and international participation.

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Kartavya Path on Republic Day 2026

India is celebrating its 77th Republic Day today with a ceremonial parade at Kartavya Path in New Delhi, presided over by President Droupadi Murmu. European Council President Antonio Costa and European Commission President Ursula von der Leyen are attending the celebrations as chief guests.

Kartavya Path, stretching from Rashtrapati Bhavan to the National War Memorial, has been extensively decorated to reflect India’s journey as a republic. This year’s celebrations also mark the 150-year legacy of the national song Vande Mataram, blending historical symbolism with contemporary national achievements.

According to the Defence Ministry, the parade highlights India’s developmental progress, military capabilities, cultural diversity, and participation from citizens across the country.

Parade begins with tribute at National War Memorial

The Republic Day parade began at 10:30 am and is scheduled to run for around 90 minutes. Prime Minister Narendra Modi first visited the National War Memorial, where he laid a wreath to honour fallen soldiers. He then proceeded to the saluting dais at Kartavya Path along with other dignitaries.

President Murmu arrived at the venue in the traditional buggy, accompanied by the two chief guests and escorted by the President’s Bodyguard, the senior-most regiment of the Indian Army.

Following the unfurling of the national flag, the national anthem was played along with a 21-gun salute using indigenously developed 105 mm light field guns. The salute was presented by the 1721 Ceremonial Battery of the 172 Field Regiment.

Cultural performances and parade leadership

More than 100 cultural artists are participating in the parade, performing on the theme ‘Vividata Mein Ekta – Unity in Diversity’. The musical presentation reflects India’s cultural richness and national unity.

The parade is being commanded by Lieutenant General Bhavnish Kumar, General Officer Commanding, Delhi. Major General Navraj Dhillon, Chief of Staff at Headquarters Delhi, is serving as the Parade Second-in-Command.

Gallantry award winners and EU participation

Recipients of India’s highest gallantry awards are also part of the parade. These include Param Vir Chakra awardees Subedar Major (Honorary Captain) Yogendra Singh Yadav (retired) and Subedar Major Sanjay Kumar, along with Ashoka Chakra awardees Major General CA Pithawalia (retired) and Colonel D Sreeram Kumar.

An European Union contingent is participating with four flag bearers on three gypsies. The group is carrying the flags of the European Union, the European Union Military Staff, EU Naval Force Atalanta, and EU Naval Force Aspides.

First-ever phased battle array display

For the first time, the Indian Army is showcasing a phased battle array format during the parade, including aerial elements. The reconnaissance component includes the 61 Cavalry in combat uniform, followed by the high mobility reconnaissance vehicle — India’s first indigenously designed armoured light specialist vehicle.

Aerial support is being provided by the indigenous Dhruv advanced light helicopter and its armed variant, Rudra, underlining India’s growing defence self-reliance.

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Didn’t violate party line: Shashi Tharoor defends stand on Operation Sindhoor

Shashi Tharoor says his stance on Operation Sindhoor was driven by national interest and insists he did not violate the Congress party line.

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Congress MP Shashi Tharoor says his views on Operation Sindhoor were guided by national interest and aligned with India’s security priorities

Congress MP Shashi Tharoor on Saturday said he has never crossed the Congress party’s stated positions inside Parliament, asserting that his only principled public disagreement was related to Operation Sindhoor.

Speaking during a session at the Kerala Literature Festival, Tharoor said he had taken a firm stand on the issue and remained “unapologetic” about it. His remarks come amid recent reports highlighting differences between him and sections of the party leadership, with speculation around his dissatisfaction over not being adequately acknowledged at a recent event in Kochi and alleged attempts by state leaders to sideline him.

Clarifying his position, Tharoor said that as a writer and observer, he had penned a newspaper column after the Pahalgam incident, arguing that the attack should not go unpunished and calling for a limited kinetic response. He added that while India’s primary focus remains development, the country should not be drawn into a prolonged conflict with Pakistan.

According to Tharoor, any response should be restricted to targeting terrorist camps rather than escalating tensions. He noted that he was surprised when the government eventually took steps that mirrored the approach he had outlined.

Referring to Jawaharlal Nehru’s famous words, “Who lives if India dies?”, Tharoor said that when the country’s security and global standing are at stake, national interest must take precedence over political differences.

He added that while political parties may disagree on various issues in the process of strengthening democracy, India must come first whenever core national interests are involved.

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