PM chairs EAC meeting, discusses measures to boost growth
Institutions plus economy, exactly the mix CLAT loves. Prime Minister Modi chaired a meeting of the Economic Advisory Council to the Prime Minister, the EAC-PM, a day after the FY26 growth data came out. Here's the thing, the EAC-PM is an independent body that advises the government on economic matters, and this meeting discussed the impact of the West Asia crisis on India's economy, plus reforms for Ease of Doing Business and Ease of Living. No big decision was announced, but the agenda itself tells you the policy priorities. Bottom line for the exam, remember what EAC-PM stands for, that it's an advisory body to the PM, and its focus on growth and reforms.
Prime Minister Narendra Modi chairs a meeting with the members of the Economic Advisory Council (EAC) to the prime minister, in New Delhi.
A day after economic growth data for FY26 out, Prime Minister Narendra Modi on Saturday chaired a meeting of the Economic Advisory Council (EAC to PM)) to discuss impact of West Asia crisis on Indian economy and ways ahead. Though no specific decision was announced after the meeting, but various new reform measures to ease doing business, boost consumption and give relief to people were discussed.
“Chaired a meeting of the Economic Advisory Council to the Prime Minister. Deliberated on a wide range of issues relating to India’s economic transformation and long-term development priorities. Also shared perspectives on adding more momentum to the reforms journey and ensuring ‘Ease of Living’ as well as ‘Ease of Doing Business,’ “Modi said in a social media post. The meeting was also attended by two principal secretaries to the Prime Minister -- PK Mishra and Shaktikanta Das.
EAC to PM is an independent body that gives advice to the Government of India, specifically to the Prime Minister, on economic and related issues. At present, it comprises a chairman, three full-time members and 11 part-time members. S Mahendra Dev is the chairman, while full-time members are Sanjay Kumar Mishra, Sanjeev Sanyal and Shamika Ravi. There are 11 part-time members: Rakesh Mohan, Sajjid. Z. Chinoy, Neelkanth Mishra, Nilesh Shah, TT Ram Mohan, Soumya Kanti Ghosh, KV Raju, Chetan Ghate, Pami Dua, Pulak Ghosh and Gaurav Vallabh.
The terms of reference of EAC include analysing any issue, economic or otherwise, referred to it by the Prime Minister, and advising him thereon, addressing issues of macroeconomic importance and presenting views thereon to the PM. These could be either Suo-motu or on reference from the Prime Minister or anyone else.
The members of the (EAC to PM) also gave their assessment of the impact of the West Asia conflict on India and the world. The Prime Minister and the EAC members discussed various ideas and measures to further boost India’s economic growth in times of global turmoil, they said. Various reforms to improve ease of living and ease of doing business were also discussed at the high-level meeting, the sources said.
The meeting took place amid better-than-expected growth prints for FY26, announced on Friday. During January-March quarter (Q4) of FY 26, the real Gross Domestic Product (GDP) grew by 7.8 per cent year-on-year, while full-year growth is pegged at 7.7 per cent. Real GDP at constant prices is estimated at ₹87.77 lakh crore in Q4 FY26, up from ₹81.40 lakh crore in the corresponding quarter of the previous fiscal. Nominal GDP for the quarter is estimated at ₹94.65 lakh crore, registering a growth of 9.1 per cent.
Gross Value Added (GVA), a key measure of economic activity, is estimated to grow 7.9 per cent in FY26, while nominal GVA is projected to rise 9.1 per cent. In the fourth quarter, real GVA growth stood at 7.9 per cent, while nominal GVA expanded 9.9 per cent. The data showed that the secondary and tertiary sectors remained the key drivers of growth. For FY26, the secondary sector is estimated to grow 8.8 per cent and the tertiary sector 9.3 per cent at constant prices. The primary sector registered growth of 3.2 per cent, supported mainly by agriculture and fisheries.