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.
As per a government statement, economist Bibek Debroy will continue to be Chairman of the EAC-PM. Meanwhile, 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. Ashima Goel has been retained as one of the part-time members, whereas Dr. Sajjid Chinoy has been brought in as a new member on the council.
The EAC-PM has been reconstituted at a time when the economy is going through a tough phase. Several sectors have reported slump in performance and latest macro-economic numbers have reflected slowdown in economic growth. Earlier today, the Asian Development Bank had slashed India's growth forecast to 6.5 per cent for the current fiscal, weighed down by the GDP growth rate dipping to a six-year low in the first quarter.