Members of the Prime Minister’s Economic Advisory Council (EAC-PM) met on November 18 in New Delhi to assess India’s growth prospects.

Highlights

• EAC-PM members were positive regarding real and nominal growth forecasts in Fiscal Year 2022-2023. looking beyond current fiscal year (FY21-22).
• All the members unanimously agreed that budget for 2021-22 was well taken across all domains because of transparency and realism. They were of the view that, budget was reformist and growth-oriented.
• They agreed to establish a clear path for privatisation.
• Members believe that these features should be carried in FY22-23 budget as well.
• They also signalled the use of surplus revenue in form of capital expenditure and human capital spending.
• Members also agreed that, growth orientation of budget from previous year should be maintained.