Prime Minister Current Affairs - 2019

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Economic Advisory Council to PM reconstituted under Bibek Debroy

Government of India has reconstituted Economic Advisory Council to the Prime Minister (EAC-PM) under existing Chairman Bibek Debroy. The reconstitution is for a period of two years, with effect from 26 September 2019.

Key Highlights

Along with Chairman Bibek Debroy, Ratan P Watal will also continue as Member Secretary of the reconstituted EAC-PM. Apart from these two full-time members, EAC-PM will have 2 part-time members as against 3 in outgoing panel.

While Ashima Goel continues to be one of part-time members and Sajjid Chinoy (Chief India economist at J.P. Morgan) has been roped in as the new member. The economists Rathin Roy and Shamika Ravi, who were the two existing part-time members, have been dropped in reconstituted EAC-PM.

Economic Advisory Council to the Prime Minister (EAC-PM)

It is an independent body constituted to advise the government (especially prime minister) on economic and related issues.

EAC-PM advises PM Modi on macroeconomic issues and other matters referred to it by PM himself. So far the suggestions made by the EAC-PM to PM on economic matters have not been made public.

The Council submitted papers on issues such as employment, macroeconomic situation and growth to Prime Minister’s Office (PMO).

Cabinet approves setting up of international Coalition for Disaster Resilient Infrastructure in New Delhi

Union Cabinet chaired by Prime Minister Narendra Modi has approved establishment of International Coalition for Disaster Resilient Infrastructure (CDRI) along with its supporting Secretariat Office in New Delhi. CDRI is proposed to be launched at United Nations (UN) Climate Action Summit scheduled to be held in New York, US on 23rd September 2019.

Cabinet Approval is for

  • Establishment of International CDRI along with its supporting Secretariat office in New Delhi.
  • Establishment of Secretariat of CDRI as Society under The Societies Registration Act,1860 in New Delhi as ‘CDRI Society’ or similar name as per availability.
  • In-principle approval for India’s support of Rs. 480 crore (around US $70 million) to CDRI for corpus required to fund technical assistance and research projects on on-going basis, setting up Secretariat office and covering recurring expenditures over period of 5 years from 2019-20 to 2023-24.
  • Endorsed version of Charter document that will act as founding document of CDRI. The charter will be finalized after taking inputs from potential member countries by National Disaster Management Agency (NDMA) in consultation with External Affairs Ministry.

CDRI

It will serve as platform where knowledge is generated and exchanged on different aspects of disaster and climate resilience of infrastructure. It will bring together technical expertise from multitude of stakeholders. In doing so, it will create mechanism to assist countries to upgrade their practices and capacities, with regard to infrastructure development in accordance with their risk context and economic needs.