Prominent economist Surjit Bhalla has announced that he has resigned from the part-time membership of the Economic Advisory Council of the Prime Minister. Bhalla took to Twitter to announce that he has submitted his resignation on December 1.
Bhalla, a noted economist and columnist, was a part-time member of the PM’s EAC lead by Bibek Debroy, a NITI Ayog member. Noted economists of the country, Rathin Roy, Ashima Goyal and Shamika Ravi are the other part-time members in the EAC. Bhalla’s resignation has reportedly been accepted by PM Modi.
The news of Bhalla’s resignation has come at the wake of RBI governor Urjit Patel quitting from his post. Patel had resigned from his post with immediate effect yesterday citing personal reasons.
Patel’s term was due to end in September 2019. His resignation has come days ahead of the RBI board meeting on 14 December.
The EAC is a think-tank like body that advises the PM of India n crucial economic issues. It is a non-constitutional, non-permanent body. EACs have been constituted several times in independent India.
The present EAC was constituted by PM Narendra Modi on September 25, 2017, and has Bibek Debroy as its chairman. Its term runs parallel to the PM’s term and the previous EAC had resigned with former PM Manmohan Singh on May 17, 2014.