NEW DELHI: With dark clouds looming over the economy amid the West Asia crisis, Prime Minister Narendra Modi on Saturday convened a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM) to assess the evolving situation and discuss the country’s long-term development strategy.
The meeting came a day after the finance ministry and the Reserve Bank of India (RBI) announced a slew of measures aimed at boosting foreign investment inflows and supporting the rupee, which has depreciated by around 6% since January 2026.
While most members remained tight-lipped about the deliberations, Modi said on X that the council discussed a wide range of issues related to India’s economic transformation and long-term development priorities.
“Also shared perspectives on adding more momentum to the reform journey and ensuring Ease of Living as well as Ease of Doing Business,” the PM said on X.
According to sources, members of the council shared their assessment of the impact of the West Asia conflict on India and the global economy. Three members present at the meeting declined to comment on the discussions when contacted.
PM’s Principal Secretaries PK Mishra and Shaktikanta Das were present.
The meet assumes significance amid concerns over the economic fallout from the conflict in West Asia. Leader of Opposition Rahul Gandhi has warned that an “economic tsunami” could hit the country.
Although the economy expanded by a robust 7.8% in the fourth quarter of FY26, many economists expect growth to moderate in the coming quarters. The RBI has revised its FY27 GDP growth forecast downward to 6.6% from 6.9% earlier. Reflecting these risks, the RBI on Friday raised its FY27 inflation forecast to 5.1% from 4.6%.
The EAC is an independent body that advises the Prime Minister on economic issues. At present, it comprises of a chairman, three full-time members and 11 part-time members. S Mahendra Dev is the chairman, while full-time members are Sanjay Kumar Mishra, Sanjeev Sanyal and Shamika Ravi.
