OPSC Current Affairs
GS Paper II — Governance & Economy
Odisha Economy
Chief Minister’s Economic Advisory Council (CM-EAC)
About the news: Odisha government has constituted an 11 member panel to advise CM on economic matters.
PANEL SIZE
11 Members
VISION 2036 (SAMRUDDHA ODISHA)
$500 Billion economy
VISION 2047 (VIKSIT ODISHA)
$1.5 Trillion economy
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Core Facts
- Constituting Authority: Government of Odisha (Notification by the Finance Department).
Structure (11 Members Total):
- 7 Non-Official Expert Members: Appointed for a term of two years (or until further orders).
- Ex-Officio Administrative Members: Chief Secretary, Development Commissioner-cum-Additional Chief Secretary.
- Member-Secretary: Principal Secretary, Finance Department.
Institutional Rhythm:
- Mandated to convene at least once every six months.
Strategic Growth Anchors:
- Vision 2036 (“Samruddha Odisha”): Target of reaching a $500 Billion economy (coinciding with the centenary of Odisha’s statehood).
- Vision 2047 (“Viksit Odisha”): Target of reaching a $1.5 Trillion economy (aligned with India’s centenary of independence).
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Key Focus Areas & Mandate
- Macroeconomic Strategy & Fiscal Prudence: Advising on fiscal management, evaluating global and national macroeconomic shocks, and assessing direct domestic implications for state revenues and expenditure quality.
Structural Transformation & Job Creation:
- Diversification into the non-farm economy and formalisation of employment.
- MSME development, regional industrial clustering, and skill ecosystems to leverage demographic dividends.
- Sunrise & Frontier Sectors: Directing targeted policy frameworks for Artificial Intelligence (AI), the Digital Economy, Green Energy Transition, Climate Resilience, and the Blue Economy.
- Evidence-Based Policymaking: Shifting from ad-hoc planning to independent, empirical, and data-driven policy recommendations.
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Analytical Perspective: EAC-PM vs. State-Level EAC
| Dimension | EAC-PM (Union Level) | State CM-EAC (e.g., Odisha) |
|---|---|---|
| Status | Non-statutory, non-constitutional, independent body advising the Prime Minister. | Non-statutory, non-constitutional, state executive mechanism advising the Chief Minister. |
| Composition | Mix of prominent independent economists, academics, and ex-officio bureaucrats. | Blend of retired civil servants, sectoral experts (ports/trade, multilateral tax policy), and key administrative heads. |
| Mandate Origin | Constituted by executive order of the Union Government. | Constituted by executive order of the State Government. |
| Nature of Advice | Recommendatory; addresses issues referred by the PM or taken up suo motu. | Recommendatory; focused on issues referred by the CM and state priorities. |
| Key Limitation | Advisory only; no binding authority or implementation role. | Advisory only; effectiveness depends on political will and departmental coordination. |
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OPSC Exam Relevance
The composition, mandate and limits of advisory bodies like the CM-EAC, Odisha’s Vision 2036 and Vision 2047 economic targets, and the comparison with the Union-level EAC-PM are relevant for OPSC Prelims (Economy & Polity) and OPSC Mains GS Paper II & III (governance, state finances, planning and structural transformation).
For structured notes on Odisha’s economy, governance and current affairs, aspirants preparing in Bhubaneswar can join the OPSC Foundation Batch at Strive Edge IAS — recognized as one of the best OPSC OAS coaching institutes in Bhubaneswar.
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Source: Odisha Government (Finance Department) Notification, Local News Reports
