Rangarajan to head advisory council on J & K development

Prime Minister Dr Manmohan Singh met the members of the Economic Advisory Council to Prime Minister here today. The PM asked the EAC to "anticipate developments in the global and national economy and flag issues of importance" for his attention. The EAC was also asked to prepare a monthly economic report for the PM.

The EAC was asked to study issues pertaining to investment and employment in agriculture, infrastructure, and services sectors. The EAC will also study issues pertaining to trade policy and state finances. In particular, the PM asked EAC to examine the problem of finances of the North-eastern States and Jammu & Kashmir. Among other issues, the EAC was asked to also examine the recommendations of a report on FDI prepared by a group of NRI CEO's. The EAC was also asked to study the problem of long-term financing and availability of development finance in the context of the spread of universal banking.

The Prime Minister has requested Dr C Rangarajan, Chairman EAC, to also chair the High Power Advisory Council on long term development of Jammu & Kashmir.

The EAC members present included Dr G K Chaddha, Mr Saumitra Chaudhuri, Dr Govinda Rao and Dr Suresh Tendulkar.