The group, which includes economy and industry experts, shall recommend to the Punjab government a short-term (one year) as well as a medium-term action plan, including a fiscal management strategy, along with other policy measures to revive the state's economy in the aftermath of the COVID-19 crisis, as per an official release.
The 20-member group has been mandated to submit its initial set of recommendations by July 31, followed by two more reports by September 30 and December 31, according to an official spokesperson.
The three-month gap between the first two reports will allow the group time to recalibrate the larger impact as COVID-19 unfolds across India over the summer, said the spokesperson.
The group has been entrusted with the task of identifying the key actions that are needed to help Punjab get to its "new normal" growth rate, said the release.
The group has been authorised to co-opt any other expert it considers necessary.
With 10 new COVID-19 cases reported on Saturday, Punjab's tally of positive coronavirus cases stand at 308, said the state government in a bulletin.
( With inputs from ANI )