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Govt expands PM's Economic Advisory Council; appoints 3 part-time members

A notification by the Cabinet Secretariat announced the addition of Neelkanth Mishra, Nilesh Shah, Anantha Nageswaran's names as part-time members of the EAC-PM

Arup Roychoudhury  |  New Delhi 

pm modi
PM Narendra Modi

Less than a month after reconstituting the Economic Advisory to the Prime Minister, the centre has added three more part-time members to the advisory body – Neelkanth Mishra, and Anantha Nageswaran.

Mishra is the India Equity Strategist for Credit Suisse, Shah is the Managing Director of Kotak Mahindra Asset Management, and Nageswaran is the Dean of IFMR Graduate School of Business. Since they are part-time members, they may not have to take leave from their current posts.

The new appointments were announced through a notification by the Cabinet Secretariat on Wednesday.

Late last month, the centre had reconstituted the for a period of another two years. from the National Institute of Public Finance and Policy and Shamika Ravi of Brookings Institution were dropped as part-time members. Sajjid Chenoy, India economist at JP Morgan was the new part-time member announced at that time.

Part-time member Ashima Goyal of Indira Gandhi Institute of Development Research and full-time members of NITI Aayog and Ratan Watal are continuing to be part of the Debroy retains his role as chairman of the EAC-PM, while former Finance Secretary Watal will continue being the member-secretary.

After the latest additions, the strength of the has gone up to seven, with two full-time members and five part-time members, from five full-and part-time members total in the body’s earlier term.

The EAC-PM was revived in September 2017 with a term of two years. It replaced the erstwhile PMEAC which was headed by former governor C Rangarajan during the terms of former Prime Minister Manmohan Singh

The council was tasked with analyzing any issue, economic or otherwise, referred to it by the PM, according to its terms of reference. The body could also take up the issues suo motu. It has submitted around three-four papers to the Prime Minister’s office, on issues like employment, fiscal situation, economic growth, manufacturing and infrastructure. None of its work has been made public.

Its latest work, still ongoing, is a task force on employment, it has submitted a brief to the PMO on what to do to alleviate growth slowdown, and hence create jobs. A more detailed report is expected to be submitted on the same.

First Published: Thu, October 17 2019. 12:23 IST
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