Economic Advisory Council's success rests on PM Modi, say experts

Emphasis laid on building a good rapport between the country's PM and the Council to ensure the body doesn't end up becoming another 'talk shop'

The Economic Advisory Council to the Prime Minister (EAC-PM) was set up because a need was felt for an additional sounding board on economic issues that would report directly to Prime Minister Narendra Modi, apart from the NITI Aayog and the office of the Chief Economic Advisor (CEA) to the Finance Ministry, senior officials told Business Standard.

Also, the idea seems to be to promote healthy competition among various advisory groups within the government and enrich its decision making. 

The choice of the members reflects the divergence in opinions and approach that the government has sought.

A government official said that since the