PM Economic Advisory Council: Need to set up GST Council-like body for public spending

The Economic Advisory Council to the Prime Minister(EAC-PM) has recommended a GST Council-like mechanism for the Centre and states to oversee public expenditure. EAC has said that fiscal consolidation issue as a reason behind this recommendation.The Centre’s fiscal deficit for 2019-20 is 3.3% of GDP.  Hence,there are limits to public expenditure as there is a… Continue reading PM Economic Advisory Council: Need to set up GST Council-like body for public spending

Release of India’s R&D expenditure eco-system report

The Economic Advisory Council to the Prime Minister (EAC-PM) has released a report titled ‘R&D Expenditure Ecosystem’. The report has said that the growth in research and development(R&D) expenditure should be commensurate with the economy’s growth and should be targeted to reach at least 2% of the gross domestic product (GDP) by 2022. The report… Continue reading Release of India’s R&D expenditure eco-system report

PM’s panel rejects former CEA’s paper on GDP growth

PM Economic Advisory Council(PMEAC) has challenged former chief economic advisor(CEA) claim that India’s gross domestic product (GDP) was overestimated for most of this decade. Recently,former CEA had said that India’s GDP growth in the period 2011-12 to 2016-17 is likely to have been overestimated.He said that the growth during that period was actually 4.5% rather… Continue reading PM’s panel rejects former CEA’s paper on GDP growth