Odisha’s CM-EAC: Key facts about the new panel

Odisha has set up a Chief Minister’s Economic Advisory Council, or CM-EAC.

It is modelled on the Economic Advisory Council to the Prime Minister.

The panel includes economists, former bureaucrats and industry experts.

Odisha aims for a $500 billion economy by 2036 and $1.5 trillion by 2047.

It is the fifth Indian state to set up such a panel.

The panel will advise on macroeconomic management, fiscal prudence and long-term growth strategy.

Odisha has set a target of a $500 billion economy by 2036 under its Samruddha Odisha vision.

The state has also set a target of a $1.5 trillion economy by 2047 under its Viksit Odisha framework.

The council’s mandate includes strengthening evidence-based policymaking and providing strategic guidance on long-term development.

Focus areas for the council include MSME expansion, industrial clusters and green energy transitions.

The CM-EAC was formed four months after Odisha announced the State Institute for Transformative Initiatives, or SITI-Odisha.

Odisha is the fifth Indian state to set up a high-level panel of domain experts to support a trillion-dollar economy goal.

Chief Minister Mohan Charan Majhi has described Odisha as poised to become India’s growth engine for the next 25 years.

The state has separately set a target of creating over one crore jobs by 2047.

State-level economic advisory councils have become more common among Indian states pursuing long-term growth targets.

The Economic Advisory Council to the Prime Minister advises the central government on a range of macroeconomic issues.

Odisha’s economy has traditionally relied significantly on mining, metals and agriculture.

State governments pursuing trillion-dollar economy goals typically focus on infrastructure, manufacturing and services sector growth.

Policy continuity and implementation capacity are commonly cited as key factors in whether long-term state economic visions succeed.

Odisha has constituted a Chief Minister’s Economic Advisory Council, or CM-EAC.

The council is modelled on the Economic Advisory Council to the Prime Minister, or EAC-PM.

Stock exchange building (representative image), Wikimedia Commons, CC BY 2.0