PM Modi pushes growth agenda at EAC meet amid economic pressure

Prime Minister Narendra Modi convened a meeting of the Economic Advisory Council (EAC) to the Prime Minister on Saturday, focusing on India's economic trajectory and long-term development goals. This discussion occurred just a day after the release of provisional GDP estimates indicating a robust 7.7% growth for the fiscal year 2025-26, alongside the unveiling of significant foreign investment reforms.

Modi shared his perspectives on accelerating the reform agenda, aiming to enhance both 'Ease of Living' and 'Ease of Doing Business' for citizens and enterprises. The meeting addressed a wide array of issues pertinent to India's economic transformation. The Prime Minister's Office posted on X that the deliberations were aimed at "adding more momentum to the reforms journey."

The discussions also took place against a backdrop of criticism from opposition parties, who have pointed to the rupee's depreciation against the dollar and rising fuel prices as indicators of policy shortcomings. However, recent government measures, including widening investment options for foreign investors and making government bonds more attractive through tax concessions, have aimed to bolster foreign exchange inflows and support the rupee.

On Friday, the Reserve Bank of India also introduced monetary measures, such as hedging cost subventions for external commercial borrowings. These actions, coupled with the positive GDP figures, signal the government's commitment to navigating global economic uncertainties while pursuing growth and stability.

“

Chaired a meeting of the Economic Advisory Council to the Prime Minister. Deliberated on a wide range of issues relating to India’s economic transformation and long-term development priorities. Shared perspectives on adding more momentum to the reforms journey and ensuring ‘Ease of Living’ as well as ‘Ease of Doing Business’.