Prime Minister Narendra Modi on 25 September 2017 constituted five-member Economic Advisory Council to the Prime Minister (EAC-PM) headed by Bibek Debroy, a member of the Niti Aayog.
The council consists of economists of high repute and eminence including Surjit Bhalla, Rathin Roy and Ashima Goyal, who will be working as part time members of the council.
Meanwhile, Ratan Watal, the Principal Advisor to Niti Aayog, will serve as the Secretary of the Council.
Terms of reference of EAC-PM
• It will analyse any issue, economic or otherwise, that is referred to it by the Prime Minister and then advise him thereon.
• It will address issues of macroeconomic importance and present its views to the Prime Minister.
• It will attend any other task as may be desired by the prime minister from time to time.
The EAC-PM is an independent body which provides advice on economic issues to the government specifically to the Prime Minister.
The last chairperson of the Council, during the term of Manmohan Singh as the Prime Minister, was former Reserve Bank of India Governor C Rangarajan.
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