PM's Economic Advisory Council to hold first meeting at NITI Aayog today

Agencies
October 11, 2017

New Delhi, Oct 11: The first meeting of the newly-constituted Economic Advisory Council to Prime Minister Narendra Modi (EAC-PM) will be held today at the NITI Aayog.

The council, set up with the Prime Minister's approval on September 26, 2017 and comprising reputed economists and experts, will be chaired by Dr. Bibey Debroy. Principal Adviser of NITI Aayog Ratan P. Watal will be the council'a member secretary and Dr. Surjit Bhalla, Dr. Rathin Roy and Dr. Ashima Goyal its part-time members.

With the constitution of the Council, the government has set up a unique independent institutional mechanism. This is mandated to analyse all critical issues, economic or otherwise referred to it by the Prime Minister and to advise him on the same. Members of the Council will also be expected to address issues of macro-economic importance and express their views.

The Council held a brainstorming session with stakeholders on October 9 at the NITI Aayog in the run-up to the first meeting of the Council.  The Council will address all issues of emergent importance, will engage with a broad spectrum of stakeholders and formulate advice accordingly.

In another development, former RBI Governor C Rangarajan said that he expected the economy to grow at 6.5 per cent for the year 2017-18. He also said that job opportunities and economic growth of the country were inter-related.

"Jobs (jobs creation) are not independent. They are related to growth. When the economy grows, jobs also grow. So you cannot talk of jobs separately from growth", the former chairman of the Prime Minister's Economic Advisory Council said.

"I think the possibility is that growth will pick up in the next few quarters but one doesn't know by how much. Perhaps by the year as a whole my own estimation is the economy may grow at 6.5 per cent", the former RBI Governor noted.

NITI AAYOG WORKING ON DIGITAL TRANSFORMATION INDEX

Meanwhile, the NITI Aayhog is working on a Digital Transformation Index for start-ups in the country.

"NITI Aayog is working on a Digital Transformation Index for start-ups", its Officer on Special Duty Aalekh Sharan said,

Digital Transformation Index (DTI) is a tool used for gauging how well one helps an organisation grow and thrive in a digital world.

Steps such as measuring the spirit of cooperation and competitiveness among states and ensuring best practices are shared and replicated are being taken, he said, adding that many top innovators are engaged with multinational companies abroad.

"The challenge is to bring them back home and inspire them to contribute towards innovation in India. This is something which will create more jobs, he said at an event organised by the CII in association with USPTO-GIPA in Kolkata on Tuesday.

Sharan also underscored the need for stronger industry-academia linkages for creating a strong eco-system of innovation.

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News Network
February 18,2020

Washington, Feb 18: The upcoming visit of President Donald Trump to India later this month has the potential to usher in a new era of bilateral ties between the two countries, a top American business advocacy group has said.

President Trump will pay a state visit to India on February 24 and 25 at the invitation of Prime Minister Narendra Modi. He would be accompanied by First Lady Melania Trump.

This would be the president's first bilateral visit in the third decade of the 21st century and also the first after his acquittal by the Senate in the impeachment trial.

"I believe President Trump's upcoming visit to India has the potential to usher in a new era of our bilateral ties," Mukesh Aghi, President of the US India Strategic and Partnership Forum (USISPF) said in a statement on Monday.

On the sidelines of the visit, the USISPF, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the ORF, has announced to organise a program entitled "US-India Forum: Partners for Growth".

The full-day discussion will focus on the key pillars defining India and the US' strategic, economic, and cultural partnership over the next decade.

"We have an opportunity before us to make real progress on multiple aspects of the relationship— whether it is upholding peace and security in the Indo-Pacific region; building upon an already strong energy partnership; developing co-production and co-development opportunities in the defense space; or strengthening bilateral trade," Aghi said.

"We look forward to an extremely successful visit and some concrete outcomes from the visit," he said.

The day-long programme on February 25 in New Delhi, will bring together over 500 senior business executives, members of the US-India think tank community and leading figures of the Indian diaspora to set the agenda for this strategic partnership.

Discussions during the day will touch upon areas, including the Indo-Pacific Strategy and Maritime Security; the US-India Defence Partnership, the US-India Energy Partnership, Elevating US-India Trade and Investment and Role of the Indian Diaspora in US-India Relations.

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News Network
March 19,2020

Mar 19: Amidst spiralling cases of COVID-19 in the country, Union Minister of State for Health and Family Welfare Ashwini Kumar Choubey on Thursday advocated "absorbing sunlight" as a possible precaution against coronavirus that has claimed over 8,000 lives globally.

Speaking to reporters outside parliament, Choubey said 10-15 minutes in the sun would build immunity as sunlight provides Vitamin D.

"From 11 am to 2 pm the sun is shining brightly. We should spend at least 10-15 minutes to absorb sunlight so that we get vitamin D which improves the immunity of our body and also kills such viruses. All should be aware of (this fact)," he said when asked about the spread of coronavirus.

COVID-19 cases in India climbed to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Union health ministry.

The cases include 25 foreign nationals -- 17 from Italy, 3 from the Philippines, two from the UK, one each belonging to Canada, Indonesia and Singapore.

The figure also includes three deaths reported from Delhi, Karnataka and Maharashtra so far.

According to the World Health Organisation, the novel coronavirus has killed over 8,000 people globally and infected more than two lakh.

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May 18,2020

New Delhi, May 18: Very severe cyclonic storm ‘Amphan’, over central parts of South Bay of Bengal, has intensified into extremely severe cyclonic storm, the India Meteorological Department (IMD) said on Monday. The weather department has warned that ‘Amphan’ may turn into a “super cyclonic storm’.

According to experts, North Odisha coast will face the maximum impact of cyclone Amphan when it makes landfall.

“Wind speed expected to be 110-120 kmph, gusting up to 130 kmph. Balasore, Bhadrak, Jajpur, Mayurbhanj dist can be affected on 20 May (when it makes landfall), IMD Bhubaneswar scientist Umashankar Das told news agency ANI.

The IMD has said that ‘Amphan’ will cross West Bengal - Bangladesh coasts between Digha (WB) and Hatiya island - in the afternoon/evening of May 20 as very severe cyclonic storm.

Earlier, the IMD had warned that ‘Amphan’, over central parts of South Bay of Bengal, will intensify into an extremely severe cyclonic storm on Monday.

“Very Severe Cyclonic Storm (VSCS) ‘AMPHAN’ over central parts of South Bay of Bengal near latitude 12.5°N and longitude 86.4°E, about 870 km nearly south of Paradip (Odisha). To intensify further into an Extremely Severe Cyclonic Storm (ESCS) in the next six hours,” the IMD said in a tweet on Monday.

National Disaster Response Force (NDRF) has sent its 10 teams to Odisha and seven teams to West Bengal in view of the approaching Cyclone Amphan, news agency reported.

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