Prime Minister Narendra Modi in its bid to boost the economy and bring reforms, has constituted a five-member Economic Advisory Council (EAC), led by NITI Aayog Member Bibek Debroy. Other members of the Economic Advisory Council constituted by PM Modi are Surjit Bhalla, Rathin Roy, Ashima Goyal and Ratan Watal.
In a statement from Prime Minister office it was stated that the terms of reference of the EAC would be to 'analyse any issue, economic or otherwise, referred to it by the prime minister and advising him thereon. It will also 'address issues of macroeconomic importance' and present its views to the prime minister, 'This could be either suo-motu or on reference from the prime minister or anyone else.'
It's terms of reference also includes attending to 'any other task as may be desired by the prime minister from time to time.” One of the members of the EAC, Ashima Goel stated that the Council will focus on structural reforms as well as try to put necessary course correction into effect in order to steer Indian economy towards the right direction.