(NDTV)
Amid worries over an economic slowdown, Prime Minister Narendra Modi has set up a five-member panel of economists headed by NITI Aayog member Bibek Debroy to advise him.The economic advisory council includes NITI Aayog’s Principal Advisor Ratan Watal as its member and economists Surjit Bhalla, Rathin Roy and Ashima Goyal as part-time members. The panel will analyse issues, “economic or otherwise, referred to it by the Prime Minister”, and will advise him on it, a government release said.
The council will “address issues of macroeconomic importance and present views thereon to the Prime Minister,” the release said, adding that members of the panel can take these up on their own or by reference from the Prime Minister or anyone else.
PM Modi has set up the panel as his government grapples with a stuttering economy, with dismal growth figures in the last quarter prompting many private economists to revise down estimates for the fiscal year ending in March 2018.
The spiral-down has also offered the opposition grist for its campaign against PM Modi ahead of key state elections and then the national election in 2019. The government is concerned at the faltering growth despite a benign macroeconomic environment with easy money flowing in, global growth reviving, government revenues looking solid, deep foreign exchange reserves, reasonable oil prices and a decent monsoon keeping food prices in check.
