{"id":7860,"date":"2022-11-23T12:45:27","date_gmt":"2022-11-23T07:15:27","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=7860"},"modified":"2025-03-28T23:26:40","modified_gmt":"2025-03-28T17:56:40","slug":"economic-advisory-council-to-the-prime-minister-eac-pm","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/economic-advisory-council-to-the-prime-minister-eac-pm\/","title":{"rendered":"Economic Advisory Council to the Prime Minister (EAC-PM)"},"content":{"rendered":"<h2><strong>About Economic Advisory Council to the Prime Minister (EAC-PM):<\/strong><\/h2>\n<ul>\n<li>The Paper has analysed three perception-based indices- Freedom in the World Index, V-DEM indices, and EIU Democracy Index.<\/li>\n<li>The paper says that these indices are primarily based on the opinions of a tiny group of unknown experts.<\/li>\n<li>It also says, the questions that are used are subjective and are worded in a way that is impossible to answer objectively.<\/li>\n<li>The Working paper also said that certain questions used by these indices are not an appropriate measure of democracy across all countries.<\/li>\n<li>It noted that since these indices are inputs into the World Governance Indicators, the World Bank should ensure greater transparency and accountability from these institutions.<\/li>\n<\/ul>\n<h3><strong>PM\u2019s Economic Advisory Council (PMEAC):<\/strong><\/h3>\n<ul>\n<li>Economic Advisory Council to the Prime Minister (PMEAC] is a\u00a0<strong>non-constitutional, non-permanent and independent body\u00a0<\/strong>constituted to give economic advice to the Government of India, specifically the Prime Minister.<\/li>\n<li>The Council was set up with a view to provide a sounding board for inculcating awareness in government on the different point of view on key economic issues.<\/li>\n<li>It is common for the Council to be reconstituted time and again with different organizational structures headed by various economists who are of recognized international eminence.<\/li>\n<li>It was set up in\u00a0<strong>September 2017 with a term of two years<\/strong>, replacing the erstwhile PMEAC, which was headed by former RBI governor C Rangarajan during the terms of former Prime Minister Manmohan Singh.<\/li>\n<\/ul>\n<h3><strong>Organization:<\/strong><\/h3>\n<ul>\n<li>The PMEAC is chaired by a\u00a0<strong>Chairperson and consists of eminent economists as members<\/strong>.<\/li>\n<li>After the latest reconstitution, it now has a Chairperson, Member Secretary and two part-time members.<\/li>\n<li>It is supported in its functions by a team of officials and administrators.<\/li>\n<li>There is no fixed definition on the exact number of members and staff of the PMEAC.<\/li>\n<li>For administrative, logistic, planning and budgeting purposes, the NITI Aayog replaced erstwhile Planning Commission to serves as the Nodal Agency for the PMEAC.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source :<\/strong><strong>\u00a0<\/strong><a href=\"https:\/\/newsonair.gov.in\/News?title=EAC-PM-issues-working-paper-on-decline-in-India%e2%80%99s-rankings-on-number-of-global-opinion-based-indices&amp;id=451251\" target=\"_blank\" rel=\"nofollow noopener\">All India Radio<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EAC-PM is a non-constitutional and independent body constituted to give economic advice to PM.<\/p>\n","protected":false},"author":5,"featured_media":7861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7860","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=7860"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/7861"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=7860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=7860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=7860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}