ABOUT
EAC-PM
Economic Advisory Council to the Prime Minister (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister. At present, the composition of EAC-PM is: Dr. Bibek Debroy (Chairman), Shri Sanjeev Sanyal (Member), Dr. Shamika Ravi (Member), Shri Rakesh Mohan (Part-Time Member), Dr. Sajjid Chinoy (Part-Time Member), Dr. Neelkanth Mishra (Part-Time Member), Shri Nilesh Shah (Part-Time Member), Prof. T.T. Ram Mohan (Part-Time Member) and Dr. Poonam Gupta (Part-Time Member).
The Terms of Reference of EAC-PM include analyzing 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 Prime Minister. These could be either suo-motu or on reference from the Prime Minister or anyone else. They also include attending to any other task as may be desired by the Prime Minister from time to time.
Team
Dr. Bibek Debroy
Chairman
Shri. Sanjeev Sanyal
Member
Dr. Shamika Ravi
Member
Shri. Rakesh Mohan
Part-Time Member
Dr. Sajjid Z. Chinoy
Part-Time Member
Dr. Neelkant Mishra
Part-Time Member
Dr. Poonam Gupta
Part-Time Member
Shri. Nilesh Shah
Part-Time Member
Reports
Female Labour Force Participation Rate
The female labour force participation rate (LFPR) is a crucial indicator of women’s economic empowerment and overall economic inclusiveness. This research paper presents econometric analysis highlighting a significant resurgence in female LFPR across Indian states, especially in rural areas, since 2017-18. There are three broad themes for the empirical analysis: (1) Recent trends in female LFPR, (2) The effects of marital status and parenthood on LFPR, and (3) LFPR variations with age and gender across all regions and states of India.
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India and Global IPR Treaties
To become an international player in the knowledge economy, India needs to take global IPR treaties more seriously as these agreements create the framework for the country’s R&D ecosystem to align with global best practices and accurately benchmark our performance with international peers. In this EAC-PM Working Paper, we explore 4 such international agreements and look at the pros and cons of each of them. These are the Strasbourg Agreement Concerning the International Patent Classification 1971, Geneva Act of the Hague Agreement on Industrial Designs 1999, Geneva Act of the Lisbon Agreement on Geographical Indications 2015 and the Design Law Treaty 2024.
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AGROFORESTRY: MISSING TREES FOR THE FOREST
Despite being a tropical country, India has not been able to unlock the full potential of agroforestry. India’s agroforestry sector remains under-utilised and stifled by regulation. According to a study published in the journal of “Environment, Development and Sustainability”, as of 2021, the area under agroforestry (defined as tree cover per cent greater than 10 per cent on agricultural land) is estimated to be around 28 million hectares, which is a mere 17 per cent of total agricultural land and is far less when compared to the global average of 43 per cent. Agroforestry is India’s primary source of timber. As per the Indian Council on Forest Research and Education (ICFRE), over 93 per cent of India’s domestic timber was produced by “trees outside forests”, a majority of which are agroforestry plots. However, a stringent, complex and cumbersome regulatory policy combined with a conservation-led approach to forestry has stifled the growth of agroforestry in India. Consequently, India has become a net importer of timber. In 2023, India imported over USD 2.7 billion worth of timber1 (ITTO 2023), which equals almost 12 per cent of all agrobased imports for the same year (Damodaran 2024)
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Relative Economic Performance of Indian States
Most papers regarding economic performance of states deal with the real and nominal growth rates of states over time. In this paper, we have focused exclusively on the relative performance of states, measured using two indicators- (1) Share in India’s GDP and (2) Relative per capita income.The state's share in India’s GDP is calculated by dividing the Gross State Domestic Product (GSDP) of the state by the sum of GSDP of all states. Relative per capita income is calculated as the ratio of the per capita Net State Domestic Product (NSDP) of the state as a percentage of the all-India per capita Net National Product (or Net National Income in some years). An important point to remember here is that per capita NSDP means that it does not include remittances which may be important for states like Kerala, Bihar and Uttar Pradesh. We have made adjustments where possible for state bifurcations and other factors to ensure comparability. All data used are in current prices. The analysis spans a long period, from 1960-61 to 2023 24, providing insights into how individual states have performed in response to changes in national and state-specific policies.
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Changes in India’s Food Consumption and Policy Implications
Significant changes are unfolding in India’s food consumption pattern, with serious implications for our national agriculture, health, nutrition, and overall welfare policies that target poorer sections of society. The changing consumption basket of Indians will also impact the calculation of the Consumer Price Index in the future. A comprehensive analysis of the Household Consumption Expenditure Survey 2022–23 and comparisons with 2011–12 reveal striking changes in food consumption patterns over the last ten years, with potential implications for health outcomes. This comprehensive study is presented in four chapters.
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Share of Religious Minorities A Cross-Country Analysis
The global economy is in a phase of churn and being closely watched and analyzed by economists and policymakers everywhere. There are, however, major demographic transitions that are also underway across countries - but mostly going unnoticed by analysts ranging from economy watchers to democracy-watchers. These silent transformations have the power to reshape societies and states. Ironically, of the four megatrends whose cascading effects are bringing about these transformations -demography, technology, economy and climate change3- the forecasts for demography are the most predictable. Shifting demographic trends are aggravating economic disparity within and between countries, straining governance and fuelling friction between states and people.
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