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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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Four militants killed as rival Naga groups clash in Manipur village

Four militants were killed in a gunfight between suspected rival Naga groups at Taodaijang village in Manipur’s Noney district on Wednesday.

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Manipur violence

At least four militants were killed in a gunfight between suspected rival Naga militant groups in Manipur’s Noney district on Wednesday, November 4.

The exchange of fire took place at Taodaijang village in the Khoupum area of the Naga-majority district. According to officials, the cadres involved were suspected to belong to rival Naga militant outfits, including the Zeliangrong United Front-Jenchui (ZUF-J) and the Zeliangrong United Front-Kamson (ZUF-K).

Initial reports indicated that the gunfight continued for several hours, leaving three cadres of ZUF-J and one cadre of ZUF-K dead.

The bodies of the deceased militants were subsequently recovered by local residents.

Residents appeal to armed groups to stop firing

Following the gunfight, local residents, including women, reached the spot in an attempt to prevent further violence between the rival groups.

They also used a public address system to appeal to the armed cadres to stop firing and prevent the situation from escalating further.

Further details about the circumstances surrounding the clash were awaited.

Manipur government reviews security situation

In a separate development, Manipur Chief Minister Yumnam Khemchand Singh directed senior security officials to identify active armed groups suspected of involvement in recent incidents of violence in the state.

The directive excluded groups engaged in peace talks with the state government.

The Chief Minister issued the instructions during a review meeting on the state’s law and order situation on Tuesday night.

He also asked security agencies, including the Army and central paramilitary forces, to submit a detailed report on the involvement of the suspected groups.

The Chief Minister said the state Cabinet could consider declaring such groups unlawful if their involvement in violence against innocent civilians was established.

He also emphasised that necessary action would be initiated against groups continuing to perpetrate violence against civilians.

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Agnipath scheme gets 2-year extension for Agniveers, tenure may rise to 6 years

The Centre has introduced a two-year extension for the remaining 75% of Agniveers under the Agnipath scheme, creating another opportunity for them to seek enrolment in the regular armed forces.

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The Centre has introduced a significant change to the Agnipath recruitment scheme, offering a two-year extension to Agniveers who were earlier expected to leave the armed forces after completing their initial four-year service.

Chief of Defence Staff (CDS) General NS Raja Subramani announced the decision on Wednesday following a Union Cabinet meeting. Under the revised arrangement, the 75% of Agniveers who were not initially selected for absorption into the regular armed forces will be offered an additional two-year engagement period.

The development creates another opportunity for these personnel to continue serving in the armed forces beyond their original four-year tenure.

What changes under the revised Agnipath scheme?

Under the original Agnipath framework, Agniveers were recruited for a four-year service period, including training. At the end of this tenure, up to 25% of each batch could be selected for permanent enrolment into the regular armed forces, while the remaining 75% were expected to return to civilian life.

The revised arrangement introduces an additional two-year engagement for the latter group. This means their potential service period could increase from four to six years.

The extension also creates another opportunity for Agniveers to seek enrolment into the regular armed forces after completing the additional two years.

What happens after the additional two years?

According to General NS Raja Subramani, Agniveers completing the extended engagement period and willing to continue serving will be considered for enrolment in the regular armed forces.

Their selection will be based on objective criteria.

This creates an additional pathway for those who are not absorbed into the regular forces after their initial four-year tenure. However, the revised arrangement does not mean that every Agniveer will automatically receive permanent enrolment.

Why has the decision been taken now?

The announcement comes as the first batch of Agniveers recruited under the scheme approaches the completion of its initial four-year service period.

The Agnipath scheme was introduced on June 14, 2022, to recruit personnel into the Indian Army, Navy and Air Force for a fixed four-year engagement.

General Raja Subramani said the scheme had been undergoing periodic reviews, with the performance of Agniveers being continuously evaluated. He also indicated that feedback on their performance had been very positive.

The latest Cabinet decision creates an additional route for retaining personnel beyond the initial engagement period.

What was the original Agnipath arrangement?

Under the original framework, the armed forces could retain up to 25% of Agniveers in the regular cadre after their four-year service period, subject to selection.

The remaining 75% were to complete their engagement and transition to civilian life.

With the latest revision, this group will receive an additional two-year engagement opportunity before being considered for enrolment into the regular armed forces under the prescribed selection criteria.

The change therefore modifies the earlier arrangement by providing an additional opportunity for Agniveers to continue their military careers.

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Hardeep Singh Puri set to win Rajya Sabha bypoll unopposed

Union Minister Hardeep Singh Puri is set to be elected unopposed to the Rajya Sabha from Madhya Pradesh after the returning officer rejected the nomination papers of two independent candidates.

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Hardeep Puri

Union Petroleum Minister Hardeep Singh Puri is set to enter the Rajya Sabha unopposed from Madhya Pradesh after the nomination papers of two independent candidates were rejected during scrutiny on Tuesday.

The two candidates whose nominations were rejected were Kante Sayanna and Rajkumar Lohani, the latter being backed by the Congress. Their rejection leaves Puri as the only candidate in the contest for the vacant Rajya Sabha seat.

According to an official, the result will be announced on November 5, which is also the last date for withdrawal of nominations.

The Returning Officer, Umesh Sharma, examined the nomination papers on the last day of scrutiny and rejected the two independent candidates’ applications.

Objections raised against Hardeep Puri’s nomination

The nomination papers submitted by Puri also faced objections from the two independent candidates and Congress leader Hemant Katare.

They questioned the validity and completeness of Puri’s affidavit filed in Form 26, raising concerns over whether the mandatory details had been properly furnished.

However, after examining the objections, Returning Officer Umesh Sharma concluded that Puri had not violated any requirements under the Representation of the People Act.

Sharma stated in his order that no defect had been found in Puri’s nomination papers that could justify their rejection.

Following the decision, Katare and Congress MLA Atif Aqeel announced that they would approach the court against the order.

Calling the decision an attack on Indian democracy, the Congress leaders said in a statement that Puri’s nomination should have been rejected despite what they described as significant errors.

Why the Madhya Pradesh Rajya Sabha seat fell vacant

The by-election was necessitated by the resignation of Union Minister L Murugan, which left a Rajya Sabha seat vacant in Madhya Pradesh.

With the nomination papers of both independent candidates rejected and Puri’s nomination cleared, the Union minister is set to be elected unopposed.

The final announcement is expected on November 5, the last day for withdrawal of nominations.

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