Digital News Guru National Desk:
The Government of India has appointed eminent economist Prof. S. Mahendra Dev as the new Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), marking a significant development in the nation’s economic policy framework. This appointment fills the leadership void that existed since the passing of the council’s first chairman, Bibek Debroy, in November 2024. During the interim period, NITI Aayog Vice Chairman Suman Bery held the additional charge of the EAC-PM.
About S. Mahendra Dev: A Distinguished Economist at the Helm
Prof. S. Mahendra Dev brings a wealth of experience to his new role. He holds a Ph.D. in economics from the Delhi School of Economics and completed his post-doctoral research at Yale University. His academic career includes serving as the Director and Vice Chancellor of the Indira Gandhi Institute of Development Research (IGIDR). He has also been an independent director on the board of Axis Bank, a position he resigned from upon his new appointment.
Prof. Dev’s contributions to development economics are notable. He has authored and edited 22 books and approximately 150 research publications focusing on development economics, macroeconomic policies, agriculture, and the rural economy. His expertise is expected to provide valuable insights into India’s economic planning and policy-making processes.
Reconstitution of the EAC-PM
Alongside Prof. Dev’s appointment, the EAC-PM has been reconstituted for a two-year term. The council now includes full-time members Sanjeev Sanyal, Sanjay Kumar Mishra, and Shamika Ravi. New part-time members appointed are Soumya Kanti Ghosh (Group Chief Economic Advisor at SBI), K.V. Raju, Chetan Ghate, Pami Dua, Pulak Ghosh, and Gourav Vallabh. These appointments aim to strengthen the council’s advisory capabilities on economic issues.
Prof. Dev’s appointment is anticipated to enhance the council’s advisory capabilities, particularly in areas concerning rural development and inclusive growth. His leadership is expected to provide valuable insights as India navigates complex economic challenges.
Role and Significance of the EAC-PM
The Economic Advisory Council to the Prime Minister is a non-constitutional, non-permanent, and independent body constituted to provide economic advice to the Government of India, specifically the Prime Minister. It plays a crucial role in analyzing key economic issues and offering strategic recommendations to guide the country’s economic policies.
Prof. Dev’s appointment is anticipated to enhance the council’s effectiveness in addressing economic challenges and formulating policies aimed at inclusive growth and development. His leadership is expected to contribute significantly to India’s goal of becoming a developed nation by 2047.
Conclusion
The appointment of Prof. S. Mahendra Dev as the Chairman of the EAC-PM signifies the government’s commitment to integrating expert economic perspectives into its policymaking framework. With his extensive experience and academic credentials, Prof. Dev is poised to lead the council in providing valuable policy guidance on key economic issues facing the country.
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