Bibek Debroy continues to be the chairman of the Council. The other part-time members of the Council include Sajid Chenoy, Neelkanth Mishra and Nilesh Shah.
“The Prime Minister has approved the reconstitution of the Economic Advisory Council to the PM (EAC-PM) for a period of two years or until further orders, whichever is earlier,” the cabinet secretariat said in a notification dated October 27.
As per the notification, the Council has been tasked to analyse any issue, economic or otherwise, referred to it by the PM and advising him thereon besides addressing issues of macroeconomic importance and presenting views to the PM. “This could be either suo-motu or on reference from the PM or anyone else,” it said, adding that the Council may attend to any other task as may be desired by the PM from time to time.
The EAC-PM is an independent body to advise the government, especially the prime minister, on economic and policy-related matters. It was set up in September 2017 with a term of two years, replacing the erstwhile PMEAC, which was headed by former Reserve Bank of India governor C Rangarajan during the terms of former prime minister Manmohan Singh.
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