home

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

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.

View

Challenges of Solid Waste Management in Urban India

Waste generation increases as a result of rapid urbanisation and economic growth, placing tremendous pressure on the current management systems. Effective waste management has remained difficult despite the rapid economic expansion, indicating a gap in development strategies. The paper presents an in-depth study and analysis of solid waste management, highlighting the dual nature of solid waste as a challenge and an opportunity for Indian cities. It further emphasises that immediate sustainable waste management solutions are needed to solve environmental issues and achieve economic potential. Constructive approaches that involve public engagement and take geographical differences into account are essential. Through the implementation of sustainable practices such as waste disposal, reduction, reuse, and waste recovery, communities can turn waste from an issue into an asset that benefits the environment, the economy, and public health in urban areas. Although various regulations and laws have been introduced to improve waste management, such as the shift from centralised (2000) to decentralised (2016) approaches, challenges persist during the implementation process of these regulations. A shift towards responsible practices, along with investment in infrastructure, finance, technology, and awareness, are necessary to alleviate the challenges and achieve effective waste management.

View

Need for Franchising Laws in India

The term ‘Franchise’ is not explicitly defined within the Indian Legal framework. However, its interpretation can be deduced from the Finance Act of 1999, which stipulates that a 'Franchise' refers to an agreement granting the authorized entity the right to sell, manufacture goods, provide services, or engage in business activities associated with the Franchisor (Shrivastava & Jacob, 2023). India’s growing middle class and rising entrepreneurial culture make the nation fertile ground for emergent franchising opportunities. However, certain lacunas need to be addressed before realizing this ambition, notably the lack of franchise-specific laws. In contrast to many other countries - the United States, where the Federal Trade Commission (FTC) oversees franchising through the Franchise Rule, the European Union, where member states regulate franchising in their national laws, Australia, which has specific disclosure laws pertaining to franchises and the Australian Competition and Consumer Commission (ACCC) that regulates the code - India does not possess a centralized regulatory body or comprehensive franchise law at the national level. The landscape of franchisor-franchisee relationships is marked by diverse arrangements and contracts, giving rise to various forms of exploitation and disputes, particularly impacting smaller local vendors serving as franchisees due to the inherent information asymmetry. The franchisor, as the source of the business opportunity, has access to enhanced knowledge about the business as well as typically exercises greater control over the terms of the franchise contract, elucidating skewed power dynamics within the industry structure.

View

Addressing Groundwater Depletion Crisis in India: Institutionalizing Rights and Technological Innovations

Groundwater, a vital resource essential for sustaining agriculture, rural water supply, and urban consumption, is rapidly depleting in India. With overreliance on groundwater, constituting 62% of irrigation and 85% of rural water supply, India faces an imminent threat exacerbated by population growth, industrial demands, and urbanisation. A University of Michigan study projects a tripling of groundwater depletion rates by 2080, primarily driven by climate-induced intensified withdrawal for irrigation. It highlights the oversight in earlier projections and calls for urgent policy interventions to mitigate this crisis. Proposed measures include rationing power supply, metering electricity usage, regional water resource development, and incentivising farmers for groundwater recharge. The study places India within the global context of groundwater depletion, identifying it as one of the six environmental tipping points. Issues such as declining water quality, aquifer depletion, and land subsidence underscore governance challenges in India, necessitating sustainable management practices. This paper unfolds in three chapters, exploring the problem's causes and impacts, policy measures from various states and globally, and solutions grounded in community rights and artificial recharge. It emphasises the imperative role of institutionalisation, drawing insights from global examples, particularly Latin America, South Africa, Germany, and Australia. The synthesis of global and Indian experiences highlights the need for a holistic approach, starting with institutionalising community rights and complementing it with technological interventions for sustainable groundwater management.

View

Revisiting complex conundrums of slum definition in urban policy: A case of India

Slums, often termed informal settlements, become the primary housing solution for low-income urban dwellers due to fierce competition for land and profits, leaving them with limited choices owing to their meagre incomes and lack of alternative housing opportunities. The paper delves into the global prevalence of slums, emphasising the significance of accommodating the urban poor, particularly in India. It explores the challenges faced by marginalised populations in planned cities and the critical need for precisely defining slums. The origin of the term 'slum' is traced, highlighting its evolving interpretation. The impact of rapid urbanisation on slum growth is analysed, emphasising the complex interplay of economic, social, and policy factors. The definition of slums is critically examined, along with the disparities and limitations in current categorisations. The paper highlights the evolution of slum policies in India, focusing on the role of definitions in shaping these policies, spanning from initial eradication strategies to current in-situ redevelopment initiatives, while examining the impact of evolving theories, the engagement of NGOs, and the persistent challenges in implementation. It scrutinises recent policies like the Pradhan Mantri Awas Yojana, featuring issues hindering effective slum improvement. Overall, the paper stresses the crucial link between clear slum definitions and successful urban poverty alleviation strategies.

View

Infrastructure Deficit in Land Transport Infrastructure in India

Over the past 75 years since Independence, India has made consistent strides in infrastructure development across various sectors such as transportation, housing, commercial development, telecom, and sanitation. Recognising infrastructure as a key driver of socioeconomic progress, the government has invested significantly in what is termed as 'social overhead capital', aiming to extend development to even the remotest corners of the nation. This strategic approach has involved dedicated budget allocations, cross-subsidisation of revenue-generating infrastructure, and focused program delivery, resulting in expanded physical transportation networks, enhanced connectivity, localised service provision, and increased digital penetration.

View