Explainer - Economic Advisory Council to the PM (EAC-PM)

• Prime Minister Narendra Modi chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM) on June 6. 

• The PM noted that they deliberated on a wide range of issues relating to India’s economic transformation and long-term development priorities.

Economic Advisory Council to the PM

• Economic Advisory Council to the Prime Minister (EAC-PM) 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: 

i) Analysing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon.

ii) 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. They also include attending to any other task as may be desired by the Prime Minister from time to time.

• At present, the EAC comprises the chairman, three full-time members and 11 part-time members.

• S. Mahendra Dev is the chairman, while full-time members are Sanjay Kumar Mishra, Sanjeev Sanyal and Shamika Ravi.

• There are 11 part-time members: Rakesh Mohan, Sajjid Z. Chinoy, Neelkanth Mishra, Nilesh Shah, T.T. Ram Mohan, Soumya Kanti Ghosh, K.V. Raju, Chetan Ghate, Pami Dua, Pulak Ghosh and Gaurav Vallabh.