Tomorrow, June 19, at 5 p.m., in the nation's capital, is the first meeting of the Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA) since the new administration was formed following the 2024 Lok Sabha elections. The prime minister will preside over the meeting, which is anticipated to include important economic policies and projects. This will prepare the ground for the government's comprehensive Budget 2024–25 release, which is scheduled for next month.
What is the CCEA?
One of the most important committees in the Indian government is the Cabinet Committee on Economic Affairs (CCEA). It is essential in ensuring that choices about industrial policies, infrastructure projects, and other important economic endeavors are finalized and in line with the goals and fiscal policies of the government. It is essential to hold a CCEA meeting prior to the Union Budget in order to consider and approve major economic initiatives. The Modi government's 3.0's general economic orientation and budgetary allocations will be impacted by these conversations. Among the eight Cabinet committees is the CCEA.
Which Cabinet committees are there?
There are several prominent committees within the Union Cabinet, each with a distinct role. These committees are constituted by the prime minister, who may change their composition and duties as needed. Some members of the Cabinet are included in these committees.
1. The first of the eight Cabinet committees is the Appointments Committee
2. The Economic Affairs Cabinet Committee
3. The Political Affairs Cabinet Committee
4. The Cabinet Committee for Growth and Investment
5. Committee on Cabinet Security
6. Committee on Cabinet Parliamentary Affairs
7. Cabinet Committee on Training and Employment
8. The Committee on Cabinet Accommodation
The prime minister chairs all committees. There is the exception of those on accommodations and parliamentary affairs, where the prime minister serves as a member. The prime minister has the authority to alter committee composition and duties. For instance, the Modi administration established the Cabinet Committee on Investment and Growth in 2019. There were twelve Cabinet committees in the Manmohan Singh administration.
How is the CCEA put to use?
The CCEA was founded on July 14, 1990, and is in charge of making important economic decisions, such as:
1. Formulating economic policies: Creating and executing plans that affect infrastructure, services, industry, and agriculture.
2. Granting approval for major projects: Guaranteeing congruence with the goals of the country.
3. Budget allocations: Allocating monies in accordance with the priorities of the economy.
4. Oversight of foreign investment: Granting approval for FDI projects and global economic partnerships.
5. Policy reforms: Putting changes into place to increase competitiveness and economic efficiency.
6. Crisis management: Creating policies to keep the economy stable amid recessions.
Who makes up the CCEA membership?
The CCEA, which was presided over by Prime Minister Narendra Modi in 2021, was attended by the following ministers: Minister of Agriculture and Farmers Welfare Narendra Singh Tomar; Minister of Finance and Corporate Affairs Nirmala Sitharaman; Minister of Road Transport and Highways Nitin Jairam Gadkari; Minister of Education and Skill Development and Entrepreneurship Dharmendra Pradhan; and Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution, and Textiles Piyush Goyal.
It is quite probable that these ministers will continue to serve on the CCEA committee in 2024 as they have all kept their current ministries in Prime Minister Narendra Modi's Union Cabinet throughout his third term.
