Prime Minister Narendra Modi on Saturday chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM), focusing on India’s economic outlook and long-term development priorities, a day after official data pegged GDP growth at 7.7% for 2025–26.
In a post on X, Modi said the discussions covered “a wide range of issues relating to India’s economic transformation” and emphasised the need to accelerate reforms while ensuring “Ease of Living” and “Ease of Doing Business.” The meeting assumes significance amid a volatile global economic environment and renewed domestic political debate over inflation and currency trends.
According to people familiar with the discussions, the Prime Minister and EAC members explored measures to sustain growth momentum and strengthen macroeconomic stability. The deliberations came shortly after the government and the Reserve Bank of India (RBI) unveiled a series of steps aimed at boosting foreign investment inflows and supporting the rupee.
On Friday, the finance ministry announced reforms to expand investment avenues for foreign individuals and portfolio investors in Indian equities. It also introduced tax incentives to make government bonds more attractive. Complementing these steps, the RBI rolled out measures including a concessional swap window for FCNR(B) deposits and hedging cost support for external commercial borrowings.
These initiatives are intended to address structural challenges that have made Indian government securities less competitive compared to those of peer emerging markets. Following the announcements, the rupee appreciated by 56 paise, with expectations of further gains.
The meeting also followed the release of National Statistics Office data showing India’s economy grew 7.7% in 2025–26, with fourth-quarter growth at 7.8%. Responding earlier, Modi reiterated the government’s commitment to enhancing business conditions and expanding opportunities for youth.
The discussions come amid opposition criticism over rising fuel prices and the rupee’s recent depreciation, which they argue reflect economic stress. However, government officials maintain that India remains one of the fastest-growing major economies globally.
Senior officials, including Principal Secretaries PK Mishra and Shaktikanta Das, attended the meeting alongside EAC chairman S Mahendra Dev and other members. The EAC-PM serves as an independent advisory body providing inputs on macroeconomic policy and strategic economic issues.
