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Prime Minister’s Economic Advisory Council identifies 10 areas for focus

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Prime Minister’s Economic Advisory Council identifies 10 areas for focus

[vc_row][vc_column][vc_column_text]The Economic Advisory Council (EAC) to the Prime Minister has identified 10 key areas, including economic growth and accelerating employment, to start work on immediately.

Briefing reporters after the EAC’s first meeting on Wednesday, Niti Aayog member Bibek Debroy said the council will again meet in November to discuss “critical issues” with next year’s budget in mind. “Next few months our focus will be on the preparation of the budget,” he said.

The EAC was set up last month amid concerns over a slowdown as economic growth slumped to a three-year-low of 5.7 per cent in the June quarter. Debroy, as the head of the five-member panel, chaired the EAC meeting, with the government’s Chief Economic Advisor Arvind Subramanian making a presentation.

Debroy said there was a consensus among the members about the various reasons for the slowdown of the economy. However, he said he was not ready to answer the question on the reasons for slowdown.

Debroy said the council has identified major priorities for accelerating growth and employment over the next six months, identifying 10 themes around which detailed reports will be prepared by its members  and the EAC will make recommendations in “collaboration and consultation” with existing government bodies.

“Whenever we will take any view on monetary policy, we will discuss with RBI…It is not our job to push those recommendations to the finance ministry, our job is to report to the Prime Minister,” he said.

He said the council is focused on critical interventions related to accelerating economic growth and employment, with greater social and financial inclusion, based on rigorous economic analysis.

Not going into elaborate details, Debroy said: “Its (EAC’s) role is to advice to the PM, to make recommendations to the Prime Minsiter. They are not meant to be announced in interactions with the media.”

Principal Advisor of Niti Aayog, Ratan Watal, who is also the member secretary of the council, said the EAC will work closely with government agencies, stakeholders and financial institutions. “We will be using the resources of Niti Ayog in helping us moving forward,” he said.

Earlier, Chief Economic Advisor to Ministry of Finance, Arvind Subramanian gave a presentation to the council on the state of the country’s economy.

Others members in the group include economists Surjit Bhalla, Rathin Roy and Ashima Goyal (part-time members).

A government statement before the EAC meeting said it will address “all issues of emergent importance and will engage with a broad spectrum of stakeholders”.

It said that the Council comprising of reputed economists and experts “is mandated to analyze all critical economic and other issues referred to it by the Prime Minister Narendra Modi and advising him thereon”.

“It is also required to address issues of macro-economic importance and presenting views thereon,” it added.

The EAC meeting happened a day after the International Monetary Fund pared the country’s GDP growth forecast for 2017 to 6.7 percent from 7.2 percent earlier, attributing it to demonetisation and introduction of the GST.

Read Also:-  World Bank, IMF cut India’s growth forecast…[/vc_column_text][/vc_column][/vc_row]

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Manipur: Congress hits back at BJP chief Nadda’s letter to Kharge

Ramesh emphasised that Nadda’s letter is replete with inaccuracies and reiterated that the people of Manipur long for normalcy, peace, and harmony.

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The Congress on Friday lashed out at BJP president JP Nadda’s accusations that the Opposition party was promoting a politically motivated narrative concerning the situation in Manipur.

The grand old party described Nadda’s letter to Congress chief Mallikarjun Kharge as a 4D exercise, which means denial, distortion, distraction, and defamation.

Nadda, responding to Kharge’s call for President Droupadi Murmu’s intervention and his claims of the Centre’s total failure in managing the crisis, claimed that the consequences of Congress’s “abject failure” in handling local issues in Manipur during its governance are still being felt today.

Responding to Nadda, Congress General Secretary for Communications Jairam Ramesh stated, “Congress President Kharge ji wrote to the President of India on Manipur. Apparently, to counter that letter, the BJP President has now written to the Congress President.”

Ramesh emphasised that Nadda’s letter is replete with inaccuracies and reiterated that the people of Manipur long for normalcy, peace, and harmony.

He noted that they are posed with four critical questions: When will the Prime Minister visit the state? How much longer will the Chief Minister remain in office despite lacking majority support? When will a full-time Governor be appointed? And when will the Union Home Minister be held accountable for his failures in Manipur?

Nadda expressed astonishment at the Congress’s ongoing efforts to sensationalize the situation in Manipur, pointing out that Kharge appeared to overlook the fact that his party’s past government had legitimized the illegal migration of foreign militants to India, during which former Home Minister P Chidambaram had signed relevant treaties.

On Tuesday, Kharge had written to President Murmu regarding the worsening conditions in Manipur, requesting her immediate intervention to ensure that the citizens of the state can live peacefully and with dignity.

In his two-page letter, Kharge accused both the Union and Manipur state governments of “completely failing” to restore peace and normalcy over the past 18 months, resulting in a loss of public confidence in their leadership.

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Rahul Gandhi is right, Gautam Adani should be arrested: RJD president Lalu Yadav

“Rahul Gandhi is right. Adani should be arrested,” said Prasad, who is an old ally of the Congress and a staunch opponent of the BJP, to which Adani is said to be close.

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RJD president Lalu Prasad Yadav on Friday spoke in support of Congress leader Rahul Gandhi’s demand for immediate arrest of Gautam Adani, after the Industrialist was charged in the US for alleged bribery and fraud.

Gandhi, the Leader of Opposition in the Lok Sabha, said on Thursday that Gautam Adani should be arrested immediately, and his protector Madhabi Puri Buch should be investigated

The former Congress chief claimed that the recent developments vindicate his long-standing allegations against Gautam Adani. He took a sharp dig at Prime Minister Narendra Modi and alleged that Modi is protecting Adani, and is also involved in corruption. 

Yadav, the former chief minister of Bihar, was responding to queries from journalists here about Gandhi’s statement on the previous day, in the backdrop of charges of bribery and fraud against the Adani group in the US.

“Rahul Gandhi is right. Adani should be arrested,” said Prasad, who is an old ally of the Congress and a staunch opponent of the BJP, to which Adani is said to be close.

The RJD supremo, who incidentally has been convicted in several fodder scam cases and is on bail, was also asked about prospects of the INDIA bloc, of which his party is a part, in Jharkhand, where the counting of votes for assembly polls is scheduled on Saturday.

Speaking to PTI, the ailing septuagenarian replied, “I would like to remain focused on my statement that Adani must be arrested. I am not worried much about a new government (in Jharkhand) where we are already in power.” Jharkhand witnessed a straight battle between the INDIA bloc and the BJP-led NDA, which included the JD(U) headed by Nitish Kumar, Prasad’s arch-rival and the current Chief Minister of Bihar.

Addressing a press conference on Thursday, Gandhi further said that Chief Ministers have been jailed for scams of Rs 10-15 crore, but Adani, who has committed a scam of Rs 2000 crore is walking free.

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Cash for votes row: BJP leader Vinod Tawde sends legal notice to Rahul Gandhi, Mallikarjun Kharge, asks them to apologise or face defamation

The BJP leader said the allegations against him were false, baseless and made with malafide intentions.

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Cash for votes row: BJP leader Vinod Tawde sends legal notice to Rahul Gandhi, Mallikarjun Kharge, asks them to apologise or face defamation

BJP leader Vinod Tawde, accused of distributing cash to influence voters, has sent a legal notice to Congress leaders Mallikarjun Kharge, Supriya Shrinate and Rahul Gandhi over the controversy. The BJP leader has demanded their apologies or face a Rs 100-crore defamation case.

Vinod Tawde’s legal notice came after regional party Bahujan Vikas Aghadi (BVA) leader Hitendra Thakur on Tuesday accused him of distributing Rs 5 crore at a hotel in Virar in Palghar district, 60 km from Mumbai, to woo voters.

In the legal notice, the BJP leader said the allegations against him were false, baseless and made with malafide intentions. He claimed that he demanded an apology from the three Congress leaders for their remarks against him in the cash-for-votes row or he would be forced to initiate criminal proceedings against them.

Just a few hours before the Assembly Elections, a video went viral on Tuesday showing BVA workers storming into the hotel in Palghar during a meeting between Vinod Tawde and Rajan Naik, the BJP candidate from the Nalasopara seat. The BVA workers alleged that Tawde was caught red-handed with Rs 5 crore cash.

In the viral video, the BVA workers were seen taking out bundles of cash from a bag, while Tawde was sitting at a distance. The BVA workers also took pictures and videos of him on their phones. Amid these allegations, BVA leaders said that Rs 5 crore cash was distributed, an election official on Tuesday said Rs 9.93 lakh cash was recovered from the hotel rooms.

However, Vinod Tawde denied the allegation, saying he was only providing guidance to party workers on poll procedures and said he was not stupid enough to distribute money at his opponent’s hotel. Speaking to the media, he said that the Vivanta Hotel is owned by the Thakurs, and he is not stupid to go to their hotel and distribute money there.

The Police registered two FIRs against Tawde, BJP candidate Naik and others in connection with the controversy. Additionally, the Election Commission filed three FIRs against Tawde.

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