Economic Advisory Council Headed by Bibek Debroy (Download PDF)

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Prime Minister constituted Economic Advisory Council to the Prime Minister (EAC-PM) - five member council headed by Niti Aayog member Dr Bibek Debroy. Other members are Dr Surjit Bhalla, Dr Rathin Roy, Dr Ashima Goyal and Ratan Watal.

Image of Gross Domestic Product Drop India

Image of Gross Domestic Product Drop India

Image of Gross Domestic Product Drop India

  • Committee analyses economic issues and those referred to it by the Prime minister.

What is Economic Advisory Council?

  • The EAC-PM is a non-constitutional, non-permanent and independent body providing advice on economic issues to the executive, specifically to the Prime Minister.

  • Consists of economists of high repute and eminence.

  • There is no fixed definition on the exact number of members and staff of the PMEAC.

  • For administrative, logistic, planning, and budgeting purposes, the Niti Aayog serves as the Nodal Agency for the PMEAC

Terms of Reference of EAC

  • EAC analyses and advices on any issue, economic or otherwise, referred by prime minister.

  • Addresses macroeconomic issues importance advising prime minster suo-motu or on reference from prime minister.

  • Prepares a monthly report of economic developments that need to be highlighted to the PM

Background

  • Formation of EAC by comes over three years after he assumed power.

  • It is mainly constituted for reviving economy’s momentum, which slipped to 5.7 % in April-June quarter (2017), lowest since May 2014.

  • Earlier, PMEAC was constituted on 29 December 2004, headed by Suresh Tendulkar. It resigned upon the completion of the then Union government’s term on 21 May 2009.

- Published/Last Modified on: November 2, 2017

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