Prime Minister Narendra Modi on Saturday, 6 June 2026, chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM), deliberating on a broad range of issues related to India's economic transformation and long-term development priorities, including measures to accelerate the ongoing reforms journey.

Context

The EAC-PM is a body of independent economists constituted in September 2017 to provide the Prime Minister with external, evidence-based advice on macroeconomic policy and growth strategy. It is reconstituted at intervals and functions as a high-level sounding board distinct from the government's in-house economic apparatus. Periodic meetings of this council are a key mechanism through which the Prime Minister's Office reviews economic progress and calibrates policy direction.

In his post on X, Prime Minister Modi stated that participants 'deliberated on a wide range of issues relating to India's economic transformation and long-term development priorities' and also 'shared perspectives on adding more momentum to the reforms journey.' The post was accompanied by an image from the meeting.

Policy Backdrop

Since 2014, successive Modi governments have pursued a sequence of structural reforms aimed at formalisation, digitisation, and infrastructure-led growth. Landmark milestones include the Insolvency and Bankruptcy Code enacted in May 2016, the rollout of the Goods and Services Tax on 1 July 2017, and the Atmanirbhar Bharat package announced in May 2020 to support post-pandemic economic recovery through targeted reforms and self-reliance measures.

These interventions form the policy lineage within which the EAC-PM now operates, providing course-correction inputs as the government pursues its long-term vision — Viksit Bharat 2047 — of transforming India into a developed economy by the centenary of its independence.

Stakeholders and Impact

The deliberations of the EAC-PM have direct relevance for a wide set of stakeholders: central and state government policymakers who translate advisory inputs into legislation and budget allocations, the private sector that calibrates investment decisions based on reform signals, and state governments that must align their own fiscal and developmental frameworks with national priorities.

Any momentum added to the reforms journey — as referenced by Prime Minister Modi — could influence upcoming policy announcements, particularly in areas such as ease of doing business, infrastructure financing, and labour market formalisation, all of which remain active items on the government's economic agenda.

What's Next

Observers will watch closely for follow-up announcements in the next Union Budget or Economic Survey that may reflect priorities discussed at this meeting. Sector-specific working groups or implementation roadmaps could emerge from the council's recommendations in the weeks ahead.

The meeting signals that the government is actively engaging independent economic expertise as it seeks to sustain reform momentum — a pattern consistent with the administration's approach of using the EAC-PM as a bridge between academic rigour and executive policymaking ahead of major fiscal milestones.