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PM’s economic advisory council (EAC-PM):
News:
- According to a PM’s economic advisory council (EAC-PM) member Ashima Goyal, the government’s ₹20.97 lakh crore rescue package for the economy is not cast in iron and there is scope to fine-tune it.
More about the Package:
- Finance Minister had announced the package in tranches, which included:
(1) 3.7 lakh crore support for MSMEs
(2) 75,000 crore for NBFCs
(3) 90,000 crore for power distribution companies
(4) Free foodgrains to migrant workers and Increased allocation for MGNREGS
(5) Tax relief to certain sections and ₹15,000 crore allocated to the healthcare sector.
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 Prime Minister.
- It is a non-constitutional and non-permanent body.
- The terms of reference of EAC-PM:
(1) Analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon.
(2) Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister.
(3) These could be either suo-motu or on reference from the Prime Minister or anyone else.
(4) It also includes attending to any other task as may be desired by the Prime Minister from time to time.