The Economic Advisory Council to the Prime Minister was constituted on
29th Dec 2004 with the Chairman of Cabinet rank. Dr. C. Rangarajan is
the current Chairman.
The Members of the Council are Dr. Saumitra Chaudhuri, (Economic
Adviser, ICRA), Dr. Govinda Rao (Director-General, National Institute of
Public Finance & Policy), Dr. Vijay Shankar Vyas (President, Asian
Society of Agricultural Economists) and Mr. Suman K. Bery
(Director-General, National Council of Applied Economic Research.) The
members of the Council will have the rank of Minister of State.
Apart from advice on policy matters referred to the Council by the PM
from time to time, the EAC also prepares a monthly report on economic
developments at home and abroad for the Prime Minister. It monitors
economic trends on a regular basis and bring to the PM’s attention
important developments at home and abroad and suggests suitable policy
responses.
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