NITI Aayog member Bibek Debroy to head the five-member council.
To revive GDP growth, Prime Minister Narendra Modi has reconstituted the UPA-era Economic Advisory Council (EAC) and appointed economist and NITI Aayog member Bibek Debroy as its chairman.
The move indicates that the PM will be closely looking over India’s future economic policy.
"The five-member council consists of economists of high repute and eminence," a government release said.
The panel includes NITI Aayog’s principal adviser Ratan Watal as its member and economists Surjit Bhalla, Rathin Roy and Ashima Goyal as part-time members.
The terms of reference of the council include "analysing any issue, economic or otherwise, referred to it by the PM and advising him thereon and address issues of macroeconomic importance and presenting views thereon to the PM, which could be either suo motu or on reference from the PM or anyone else", as per the release.