- Procedure and Guidelines for Engagement of Senior Consultants/Consultants Grade-2/Consultants Grade-I/ Young Professionals in NITI Aayog, 2023
- Inviting application for engagement of Consultants (Grade-I) and Young Professionals on contractual basis.
ABOUT
EAC-PM
Economic Advisory Council to the Prime Minister (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister. At present, there are a Chairman, 3 Full-Time Members and 11 Part-Time Members in the EAC-PM.
The composition of EAC-PM is as follows:
Sh. Sanjay Kumar Mishra
Sh. Sanjeev Sanyal
Dr. Shamika Ravi
Sh. Rakesh Mohan
Dr. Sajjid. Z. Chinoy
Sh. Neelkanth Mishra
Sh. Nilesh Shah
Prof. T. T. Ram Mohan
Dr. Soumya Kanti Ghosh
Prof. K. V. Raju
Prof. Chetan Ghate
Prof. Pami Dua
Prof. Pulak Ghosh
Sh. Gaurav Vallabh
The Terms of Reference of EAC-PM include analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon, addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister. These could be either suo-motu or on reference from the Prime Minister or anyone else. They also include attending to any other task as may be desired by the Prime Minister from time to time.
Team
Prof. S. Mahendra Dev
Chairman
Shri Sanjeev Sanyal
Member
Shri Sanjay Kumar Mishra
Member
Dr. Shamika Ravi
Member
Dr. Rakesh Mohan
Part-Time Member
Dr. Sajjid Z. Chinoy
Part-Time Member
Shri Neelkanth Mishra
Part-Time Member
Prof. Pulak Ghosh
Part-Time Member
Reports
Formalization of Labour Market in India: Evidence from PLFS and ASUSE 2025 Unit-Level Data
India’s labour market and its large informal enterprise sector present two interlinked development challenges. On the labour side, the persistence of informal employment, low female labour force participation, minimum wage non-compliance, and an expanding youth workforce have been central concerns in India’s employment discourse (World Bank, 2016; La Porta and Shleifer, 2014). On the enterprise side, the unincorporated sector comprising household-owned and individually operated firms outside the Companies Act continues to account for a substantial share of employment and output, yet remains constrained by low productivity, limited access to institutional credit, and weak integration into formal regulatory and financial systems (NCEUS, 2009). Recent policy interest has converged on two levers for addressing these challenges simultaneously: ICT adoption/digitalisation2 and enterprise formalization. ICT adoption has been identified as a potential productivity-enhancing mechanism for micro and small enterprises, while government-sponsored registration programmes such as Udyam and Udyam Assist have been introduced with the explicit aim of extending formal credit access to previously excluded firms. Understanding whether and to what degree these two pathways deliver on their intended objectives requires rigorous empirical analysis using representative data.
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Constituency Size, Composition and the Case for Delimitation in India’s Lok Sabha (2009–2024)
India’s parliamentary constituencies are very large by global standards: the median Lok Sabha Parliamentray Constituency (PC) electorate reached 1.82 million registered electors in 2024. The conventional reading of Indian turnout has been that very large PCs suppress voting; we show this “size penalty” is now a compositional artefact. Across 2,171 PC-elections in 2009, 2014, 2019 and 2024, the unconditional small-vs-large decile turnout gap halved from +22.86 to +12.03 percentage points (pp), yet the conditional 1 M-vs-2 M turnout gap crossed from +1.42 pp (95% CI: −2.85, +5.69) in 2009 to −6.16 pp (95% CI: −10.30, −2.02) in 2024 once urban, SC, ST shares, Esteban–Ray linguistic polarisation, Shannon linguistic diversity (122-language grain) and polling-station density are controlled. Urban share is the largest single compositional channel associated with female turnout at 52.4 % (95% CI: 44.6, 60.2), followed by linguistic diversity at 28.2 % (95% CI: 21.4, 35.1) and linguistic polarisation at 20.6 % (95% CI: 14.3, 27.0); linguistic diversity also displays an opposite-sign gender split (men: −8.2 %). A turnout-maximising delimitation counterfactual that splits 543 PCs into 824 (59 two-way, 111 three-way) holding parent-PC compositional covariates fixed is predicted to raise national turnout by +2.32 pp (95% CI: +1.43, +3.21) under our preferred specification, with substantial sensitivity to alternative specifications: re-running the same exercise under three alternative specifications returns +1.42 pp, +1.17 pp and +0.30 pp respectively, giving a defensible range of +0.3 to +2.3 pp. The plan delivers a small female-favourable tilt of +0.21 pp (95% CI: −0.14, +0.56).
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How to do Process Reforms: Case study of IEPFA
Economic reform debates usually tend to gravitate towards the big reforms. Reforms such as tax system overhauls, introduction of Insolvency and Bankruptcy Code (IBC), inflation targeting usually dominate headlines. These are structural reforms, which make changes to the underlying framework of an economy. While such reforms are important, they overlook a quieter but equally powerful source of improvement, which we term as ‘process reforms’.
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Economic impact analysis of Priority Sector Lending
The policy on priority sector lending has been in place in India for almost five decades and banks are required to direct at least 40% of their overall credit towards the priority sector. The priority sector encompasses a broad range of economic activities such as the provision of credit to small and marginal farmers, micro enterprises and weaker sections aiming to address systemic equity gaps. Growth considerations are also addressed through this policy as the priority sector includes activities that serve as economic multipliers like exports, medium enterprises and corporate farmers.
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Reimagining the Care Economy: From Private Burden to Social and Economic Infrastructure
India’s demographic profile is shifting - a growing share of elders and declining fertility, compounded by rapid urbanisation that is eroding the traditional family structures that have historically provided care. Indian states are at varying stages of this demographic transition– from high child dependency to accelerating elderly dependency. The pressures of declining fertility and ageing have increasingly prompted some state governments to respond through measures aimed at reversing demographic trends or easing the financial cost of raising children.
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What the Data Cannot Say: Small-Sample Inference and India’s National Accounts
The recent paper by Anand, Felman and Subramanian (2026) argues that India’s January 2015 national accounts methodology revision caused GDP growth to be overstated by approximately 1.5-2 percentage points per year between FY2011-12 and FY2024-25. The paper presents evidence for this view using informal-sector survey data, cross-country regressions, and correlation analysis that is the focus of this note. It has gathered some attention in media, and in political discussions, recently.
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