- 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
What the Data Cannot Say: Small-Sample Inference and India’s National Accounts
Virat Singh is Consultant, Economic Advisory Council to the Prime Minister and Aditya Sinha is former Officer on Special Duty (Policy & Research), Economic Advisory Council to the Prime Minister. We would like to place on record our sincere gratitude to Dr Shamika Ravi, Member, Economic Advisory Council to the Prime Minister and Dr Mudit Kapoor, Associate Professor, Economics & Planning Unit, Indian Statistical Institute, Delhi for their constant guidance, suggestions and comments for this Policy Note. However, the contents of the Note, including facts and opinions, are of the authors.
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Unlocking Rural Property Rights: Social Inclusion and Credit Expansion through SVAMITVA
The Government of India’s introduction of the SVAMITVA scheme marks a landmark policy effort in rural property-rights reform. By seeking to provide formal recognition to residential abadi holdings that have long remained outside clear legal and financial records, the scheme lays foundation for stronger tenure security, better local governance and wider participation in formal credit markets. This paper evaluates how SVAMITVA by formalizing rural property rights has significantly enabled women and those at the bottom the pyramid to leverage such residential property rights as a collateral to gain access to formal credit. Using granular level data and high-dimensional fixed-effects difference-in-differences and triple-difference specifications, the baseline estimates show that sanctioned loan amounts increased by 23% in districts where SVAMITVA were implemented after rollout. The gains are distributionally progressive: borrowers from backward classes experience an additional 21% increase , while borrowers in Aspirational Districts record an additional 23% increase, both over common treatment effect of 23%. Among women, the strongest gains are concentrated at the bottom of the pyramid: the bottom 20% of women borrowers see a 24% increase in sanctioned loan amounts. In particular, across all such women, Muslim women exhibit an incremental 5.8% increase over the common treatment effect of 23%. This increase is significant as Muslim Women (Protection of Rights on Marriage) Act that was passed in 2019 rendered the practice of triple talaq void and aimed to strengthen Muslim women’s legal protection. Thus, it is the possible that 2021 SVAMTIVA act coupled with 2019 Muslim Women Act has created a favorable institutional impact. Overall, the findings suggest that SVAMITVA relaxed collateral constraints, deepened formal credit access, and did so in a socially and spatially inclusive manner. We recommend that a SVAMITVA-like scheme be launched in urban India as well to integrate scattered land records across states and the ongoing NAKSHA scheme be extended to all Urban Local Bodies.
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ESTIMATING REDUCTION IN POLLING PERSONNEL DEPLOYMENT UNDER SIMULTANEOUS ELECTIONS
The conduct of elections in India demands substantial manpower, particularly polling personnel (PP), to carry out the poll at polling stations (PSs). This paper estimates the potential reduction in PP deployment under a simultaneous election framework. There are other potential benefits of simultaneous elections, but they are outside the scope of this paper. The Election Commission of India (ECI) has benchmarks for the deployment of PP per PS for different kinds of elections. According to these, the composition of a polling party for a PS is a Presiding Officer (PRO) plus 3 Polling Officers (POs) for a State Assembly election, a PRO plus 4 POs for a Lok Sabha election, and a PRO plus 5 POs for a simultaneous election. These benchmarks are tested against actual PP deployment numbers for certain election cycles and found to provide a good fit. Thus, using ECI benchmarks, we get a gross baseline reduction of 33 percent in PP deployment under the simultaneous election framework. This is because while 9 PP are required per PS to conduct a poll separately for State Assembly (PRO plus 3 POs) and Lok Sabha (PRO plus 4 POs), only 6 PP are required per PS to conduct a simultaneous poll (PRO plus 5 POs).
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India’s Hidden Urbanisation & Its Policy Implications
We are living in the epoch of urbanisation. Cities have been engines of economic growth for several centuries but their centrality in global production and consumption has accelerated in the last five decades at an unparalleled rate. A McKinsey report as far back as 2012 noted that just 440 cities in developing countries would be responsible for over half the global GDP growth in the subsequent decade1. As an aggregate, the GDP of cities in Asia is slated to exceed the European and North American cities combined, by 2027, as per a 2018 report by the research institute Oxford Economics2.
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Financial Inclusion as a Path to Equality: Lessons from India
Financial inclusion represents a fundamental human rights imperative, linking economic access to dignity and opportunity. India’s decade-long journey toward universal financial inclusion offers crucial insights into how digital public infrastructure can overcome traditional barriers to financial access. Through the strategic deployment of the India Stack, comprising digital identity (Aadhaar), universal banking (Jan Dhan Yojana), and interoperable payments (UPI), India has demonstrated that financial inclusion at scale is achievable when governments create foundational infrastructure that reduces transaction costs and enables market innovation. This article examines how complementary interventions in savings, insurance, and credit create synergies exceeding their individual impacts, while acknowledging critical concerns about credit quality, sustainability, and the risk of overindebtedness. The evidence suggests that while India has made remarkable progress in expanding financial access, questions remain about whether this credit expansion leads to productive investment or consumption, and whether current lending practices are creating sustainable pathways out of poverty or new forms of debt dependency.
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Rise in Tobacco Consumption and Policy Implications
The Household Consumption Expenditure Survey (HCES) 2023-24 delivers an uncomfortable truth India can no longer afford to ignore: tobacco consumption is rising fast, spreading wider, and embedding itself deeper into the lives of poorer households - just as the state expands publicly funded healthcare. This collision of trends is not accidental, and it carries serious implications for health outcomes, fiscal sustainability, and social policy. Adjusted for inflation, per capita spending on tobacco rose sharply between 2011-12 and 2023-24 - by 58 % in rural India and an even steeper 77 % in urban areas. Tobacco now accounts for around 1.5 % of monthly per capita consumption expenditure (MPCE) in rural areas and 1 % in urban areas. On the surface, these shares may appear modest. But the real alarm lies elsewhere: in the explosion of the number of households consuming tobacco. In rural India, tobacco-consuming households increased from 9.9 crore (59.3 % of all households) to 13.3 crore (68.6 %) - a rise of 33 % in just over a decade. Urban India tells an even more dramatic story. The number of tobacco-consuming households jumped by 59 %, from 2.8 crore (34.9 %) to 4.7 crore (45.6 %). Tobacco use is no longer confined to traditional pockets or demographics; it is becoming mainstream across rural and urban India alike.
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