Niti Aayog Current Affairs

First Meeting of EAC-PM held in New Delhi

The first-ever meeting of newly-constituted Economic Advisory Council to Prime Minister (EAC-PM) was held at NITI Aayog, in New Delhi. It was chaired by Dr. Bibek Debroy, Member NITI Aayog.

The meeting took stock of the current economic, fiscal and monetary policy environment and identified key issues that it would focus on. It identified major priorities for accelerating economic growth and employment over tnext six months, with greater last mile connectivity.

Ten identified themes

The EAC-PM identified ten themes around which Council Report will be structured in the coming months The ten themes identified are Economic Growth, Employment and job creation, fiscal framework, informal sector and integration, public expenditure, monetary policy, institutions of Economic Governance, Patterns of Consumption & Production, Agriculture & Animal Husbandry and Social Sector.

The EAC-PM also developed Theme Groups led by its members, through consultative processes involving sectoral Ministries, States, experts, institutions, private sector and other key stakeholders. It also recognized for effective tracking of key economic parameters, through possible mechanisms for instituting Economy Track Monitor, using lead indicators and triggers for action, based on informed assessment and analysis.

EAC-PM

Prime Minister Narendra Modi has constituted five member EAC-PM in September 2017 as an independent body to provide advice on economic issues to the government, specifically to the Prime Minister. It consists of economists of high repute and eminence. It serves as an independent institutional mechanism, to provide informed advice to the Prime Minister on addressing issues of macroeconomic importance and related aspects.

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Government constitutes high-level committee for water management in northeast

The Government has constituted a high-level committee for proper management of water resources in North Eastern Region (NER) under Chairmanship of Rajiv Kumar, Vice-Chairman of NITI Aayog.

The Committee is tasked to facilitate optimising benefits of appropriate water management in form of agriculture, bio-diversity conservation, hydro-electric power, reduced flood damage erosion, inland water transport, forestry, fishery and eco-tourism.

Composition of Committee

It will include secretaries from the ministries of DoNER, water resources, river development and Ganga rejuvenation, power, National Disaster Management Authority (NDMA), departments of border management and space and chief secretaries of all eight north eastern states.

Terms of reference of Committee

It will appraise existing institutional arrangements (or mechanisms) for management of water resources of NER. It will also identify of gaps in existing institutional arrangements for optimal management of water resources of NER. It will suggest policy interventions required for optimally harnessing water resources for accelerating development in NER.

It will also spell out of actionable measures required for optimizing management of water resources in NER. It will  chalk out a Plan of Action for dovetailing of schemes and programmes of concerned Union Ministries as well as schemes of respective North-Eastern State Governments.

It will submit its report, including Plan of Action, by June, 2018. Ministry of Development of North Eastern Region (DoNER) will serve as coordinating point.

Background

The Brahmaputra (flows through Assam, Arunachal Pradesh) and Barak river (flows through Assam, Manipur and Mizoram) systems in NER which account for one-third of India’s run off are highly prone to floods.  Brahmaputra is one of largest river systems in world and causes considerable distress and costs on NER through frequent flooding and erosion.

During review of flood situation with Chief Ministers of Assam, Manipur, Nagaland and Arunachal Pradesh, Prime Minister Narendra Modi had announced constitution of High-Level Committee for holistic management of water resources in NER. The meeting noted thatoptimum management of water resources is cross-cutting task which requires multi-sectoral interventions and concerted strategy, including management of catchment areas in upper reaches involving concerned Central Ministries and State Governments.

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