Bibek Debroy Current Affairs - 2020

Government constitutes Economic Advisory Council headed by Bibek Debroy

Prime Minister Narendra Modi has constituted Economic Advisory Council to the Prime Minister (EAC-PM). The five member of council will be headed by Niti Aayog member Dr Bibek Debroy.

Other members are Dr Surjit Bhalla, Dr Rathin Roy, Dr Ashima Goyal and Ratan Watal. The committee will analyse any issue economic or otherwise referred to it by the Prime minister.

Economic Advisory Council

The EAC-PM is an independent body which provides advice on economic issues to the government, specifically to the Prime Minister. It consists of economists of high repute and eminence.

Terms of reference of EAC

EAC will analyse any issue, economic or otherwise, referred to it by prime minister and advising him thereon. It will also address issues of macroeconomic importance and present its views to the prime minister. It advise can be either suo-motu or on reference from prime minister or anyone else. It can also attend any other task as may be desired by prime minister from time to time.


Formation of EAC by PM Narendra Modi comes over three years after he assumed power. It will play a critical role in reviving the economy’s growth momentum that has has slipped to 5.7% in April-June quarter, the lowest since May 2014. Earlier PM Manmohan Singh had EAC headed by former RBI Governor C Rangarajan, who resigned in May 2014 after UPA government lost power.

Economist Bibek Debroy takes over as member of NITI Aayog

Economist Bibek Debroy has taken over as the full-time member of National Institution for Transforming India (NITI) Aayog.

Bibek Debroy

  • He has been working as a professor at the Centre for Policy Research in New Delhi.
  • Previously he has worked as Director of the Rajiv Gandhi Institute for Contemporary Studies and as a Consultant in Finance Ministry in various capacities.
  • He was also the Chairman of High Powered Committee of the restructuring on Railways.
  • He has been associated with a number of prestigious institutes in the field of academics. It includes Presidency College Kolkata Delhi School of Economics Gokhale Institute of Politics and Economics, the Indian Institute of Foreign Trade, the National Council of Applied Economic Research, Trinity College, Cambridge, and institute for South Asian Studies , Singapore.
  • He has authored several books, papers and articles on Economic issues. He also has authored a ten-volume unabridged English translation of the Hindu epic the Mahabharata.


Earlier on 5 January 2015, Prime Minister Narendra Modi had appointed Bibek Debroy along with Scientist V K Saraswat as full time member of NITI Aayog.