Government has reconstituted the seven-member Economic Advisory Council to the Prime Minister (EAC-PM) by inducting three new members while dropping economist V. Anantha Nageswaran from the council.
In a notification issued on Wednesday, the Cabinet Secretariat said prime minister Narendra Modi has inducted former deputy governor of Reserve Bank of India Rakesh Mohan, IIM Ahmedabad professor T.T Ram Mohan and NCAER director general Poonam Gupta into the PMEAC as part time members for a period of two years, that will continue to be chaired by economist Bibek Debroy. The part time members will be paid ₹10,000 per day of sitting.
J.P. Morgan's Chief India Economist Sajjid Chinoy, India Strategist for Credit Suisse Neelkanth Mishra and managing director of Kotak Mahindra Asset Managemet Co. Ltd Nilesh Shah will continue to be part-time members of the council.
The PMEAC has been mandated to analyse any issue, economic or otherwise, referred to it by the prime minister and advise him; addressing issues of macro-economic importance and presenting views thereon to the prime minister. “This could be suo-motu or on reference from the prime minister or anyone else," the notification said. The terms of reference of the council also include attending to any other task as may be desired by the prime minister from time to time.
“Niti Aayog shall continue to provide office space and other allied facilities to EAC-PM as per its requirement in Niti Aayog Bhawan. Cabinet Secretary shall resolve any other issue that may come up between Niti Aayog and EAC-PM," the notification said.
