Economic Advisory Council to the Prime Minister

Economic Advisory Council to the Prime Minister Latest News

Recently, the Prime Minister of India chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM). 

About Economic Advisory Council to the Prime Minister

• It is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.
• The Terms of Reference of EAC-PM include:
  • Analysing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon.
  • Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister.
  • These could be either suo-motu or on reference from the Prime Minister or anyone else.
  • Attending any other task as may be desired by the Prime Minister from time to time.
  • The role of EAC-PM is advisory in nature and not binding on the Government.
  • In addition to its advisory role, the EAC-PM also plays an important role in fostering greater economic understanding and awareness among the public.
• Composition
  • EAC-PM is headed by a chairperson and consists of eminent economists as members.
  • It is supported in its functions by a team of officials and administrators.
  • There is no fixed definition of the exact number of members and staff of the EAC-PM.
  • For administrative, logistic, planning, and budgeting purposes, the NITI Aayog serves as the nodal agency for the EAC-PM.

Source: TH

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