The Economic Advisory Council
The Economic Advisory Council to the Prime Minister was constituted on 29th Dec 2004 with the Chairman of Cabinet rank. Dr. C. Rangarajan is the current Chairman.
The Members of the Council are Dr. Saumitra Chaudhuri, (Economic Adviser, ICRA), Dr. Govinda Rao (Director-General, National Institute of Public Finance & Policy), Dr. Vijay Shankar Vyas (President, Asian Society of Agricultural Economists) and Mr. Suman K. Bery (Director-General, National Council of Applied Economic Research.) The members of the Council will have the rank of Minister of State.
Apart from advice on policy matters referred to the Council by the PM from time to time, the EAC also prepares a monthly report on economic developments at home and abroad for the Prime Minister. It monitors economic trends on a regular basis and bring to the PM’s attention important developments at home and abroad and suggests suitable policy responses.
PM's Council on Micro, Small and Medium Enterprises (MSMEs)
The Prime Minister had announced setting up of the Task Force in August, 2009 when representatives of prominent MSME associations had met him to highlight their issues and concerns. Accordingly, the Task Force under Shri T.K.A. Nair, Principal Secretary to Prime Minister was constituted on 2nd September, 2009 to reflect on the issues raised by the associations and formulate an agenda for action after discussions with all stakeholders. Its members included Member, Planning Commission, Secretaries of concerned Government Departments, Deputy Governor, RBI, Chairman and Managing Director, SIDBI and representatives of MSME associations.
The report provided a roadmap for the development and promotion of the Micro, Small and Medium Enterprises (MSMEs). It recommended an agenda for immediate action to provide relief and incentives to the MSMEs, especially in the aftermath of the recent economic slowdown, accompanied by institutional changes and detailing of programmes, to be achieved in a time bound manner. In addition, it suggested setting up of appropriate legal and regulatory structures to create a conducive environment for entrepreneurship and growth of micro, small and medium enterprises in the country.
Subsequently, the Prime Minister’s Council on MSMEs was formed on 7th April, 2010 to lay down broad policy guidelines and review the development of the MSME sector. The Council shall meet once a year.
A steering group has also been put into place comprising of Secretaries to the Ministries of MSME, Finance, Labour etc. This steering group has already met in April and reviewed the progress of implementation of the recommendations of the Task Force.
PM's Council on Trade and Industry
The newly reconstituted Prime Minister’s Council on Trade & Industry held its first meeting on 26th May, 2010. The Council held discussions on wide-ranging issues. It was decided to form Sub Committees comprising of the Members of the Council to discuss and formulate their recommendations to the Government on the following issues:(i) Skill development, Affirmative Action and Corporate Social Responsibility;
(ii) Enhancing Agriculture Production and Food Security;
(iii) Promoting Public Private Partnership especially in R&D and clean energy;
(iv) Promoting Financial Inclusion; and
(v) Backward and Tribal Area Development.
PM's Council on Climate Change
Constituted on 6th June 2008, a committee chaired by the Prime Minister called Prime Minister's Council on Climate Change will coordinate national action for assessment, adaptation and mitigation of climate change.
The Committee would focus on the following tasks:
a) Evolve a coordinated response to issues relating to climate change at the national level ;
b) Provide oversight for formulation of action plans in the area of assessment, adaptation and mitigation of climate change;
c) Periodically monitor key policy decisions.
The committee would be serviced by the Prime Minister's Office, which may obtain assistance as required from any Ministry/ Department/ Agency of Government. Specifically, the Ministry of Environment and Forests will assist PMO in facilitating the work of this Committee.
PM's National Council on Skill Development
The Prime Minister's National Council on Skill Development was constituted on 1st July 2008 in pursuance of the decision of the Cabinet at its meeting held on 15th May 2008 on "Coordinated Action for Skill Development and setting up of the National Skill Development Corporation".
The Council is at the apex of a three-tier structure and would be concerned with vision setting and laying down core strategies. The Council would be assisted by the National Skill Development Coordination Board chaired by the Deputy Chairman, Planning Commission which will coordinate action for skill development both in the public and the private sector.
To promote private sector action for skill development, an institutional arrangement in the form of a non-profit corporation called the National Skill Development Corporation is being set up by the Ministry of Finance. The Chairperson of the National Skill Development Corporation, a non- profit corporation to be set up by the Ministry of Finance would also be a Member of the Council.
The Trade and Economic Relations Committee
Constituted on 3rd May 2005, the Trade & Economic Relations Committee is an institutional mechanism for evolving the extent, scope and operational parameters of our economic relations with other countries in a coordinated and synchronized manner.
The Committee is serviced by the Prime Minister’s Office, which may obtain assistance as required from any Ministry/Department/Agency of Government.
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