Economic Advisory Council to the Prime Minister | Important GK for SSC, Bank & Railways


Press the Bell icon to never miss a video from Testbook.com Namaskar Friends and welcome to this video. Recently a news surfaced in which an announcement was made that the part time member and eminent economist of Prime Minister’s Economic Advisory Council Mr. Surjit Bhalla has resigned from his post. This news appeared one day after the news of the resignation of RBI Governer, Urjit Patel. Let’s talk about Economic Advisory Council and its major responsibilities. Economic Advisory Council is a non-constitutional, non-permanent, independent body which is formed for the Prime Minister. This constitutional body has been formed primarily to provide financial advice to Prime Minister. This council, from a focused point of view, works to highlight the important monetary issues that the country might face, in front of Indian Government. This council advises the Prime Minister on issues like inflation, micro finance and industrial inputs. Before starting with the roles and functions of Economic Council, here’s a question for you: Who is the current chairman of Prime Minister’s Economic Advisory Council? If you know the answer to this question, do not forget to comment below. You will find the answer to this question in this video! Let’s talk about the functions of Economic Advisory Council. Economic Advisory Council, financially analyses any issue provided by the Prime Minister and provide suggestions about the same. These Economic Councils address the issues related to micro economic importance and present their suggestions to the Prime Minister. These can be any one from Suo Moto or references given by Prime Minister or somebody else. Along with Periodic Reports on Macro Economic Developments, entire economic growth and several other issues, the Periodic Updates are provided by these Councils to the Prime Minister. Participating in any work given by the Prime Minister from time to time is also one of their responsibilities. The primary role of PMEAC’s is to provide a focused point of view on the Economic Policy issues referenced by the Prime Minister. Apart from this, it gets the monthly reports of the Economic Growth prepared which are necessary to be highlighted by the Prime Minister. For this, it keeps an eye on the National and International Economic Growth and their updates and designs appropriate legitimate response for the Prime Minister. It presents the report on the analysis of Economy on Economic Outlook. The current Chairman of Economic Advisory Council is Bibek Debroy who is also the Chairperson of Niti Ayog. So this was a small video on Prime Minister’s Economic Advisory Council How did you find this information, do let us know in the comment section. Do like this video and share it with your friends. Subscribe Testbook’s Youtube Channel and do not forget to click the Bell Icon. Thank you for watching this video and All The Best!

Author Since: Mar 11, 2019

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