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Economic Advisory Council
Why is it in the news?
- The Centre has reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM) for a period of two years.
- The reconstituted advisory panel will come into effect from September 26, 2019.
More in the news
- Economist Bibek Debroy will continue to be Chairman of the EAC-PM.
- Former NITI Aayog Principal Advisor Ratan P Watal will remain the Member Secretary of the panel.
- Apart from these two full-time members, the EAC-PM will have two part-time members.
- About Economic Advisory Council:
(a) Economic Advisory Council to the Prime Minister (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Prime Minister.
(b) It is a non-constitutional and non-permanent body.
- The terms of reference of EAC-PM:
(a) Analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon.
(b) Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister.
(c) These could be either suo-motu or on reference from the Prime Minister or anyone else.
(d) It also includes attending to any other task as may be desired by the Prime Minister from time to time.
Source
The Hindu, eacpm.