Economic Advisory Council

News:Government of India has reconstituted the Economic Advisory Council to the Prime Minister(EAC-PM) for a period of two years with effect from 26th September 2019.

Facts:

About EAC-PM:

• Economic Advisory Council to the Prime Minister(EAC-PM)  is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister.

Terms of reference:

• Analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising the PM.
• Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister.This could be either suo-moto or on a reference from the Prime Minister.

Members:

• The PMEAC is chaired 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 on the exact number of members and staff of the PMEAC.