29 Oct 2021 Economic Advisory Council to the Prime Minister
- Recently, the government has reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM)under the leadership of Bibek Debroy for a period of two years after its term came to an end in September 2021.
About:
- EAC-PM is a non-constitutional, non-statutory, independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.
- The council serves to highlight key economic issues to the government of India from a neutral viewpoint.
- It advises the Prime Minister on economic issues like inflation, microfinance, and industrial output.
- For administrative, logistic, planning and budgeting purposes, the NITI Aayog serves as the Nodal Agency for the EAC-PM.
Terms of Reference of EAC-PM:
- Analyzing 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.
- It also includes attending to any other task as may be desired by the Prime Minister from time to time.
Periodic Reports:
- Annual Economic Outlook.
- Review of the Economy.
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