In order to find solutions to revive the faltering economic growth, Prime Minister Narendra Modi has formed a new economic advisory council.
This council will be led by a Cambridge educated economist Bibek Debroy. Surjit Bhalla, Rathin Roy, Ashima Goyal, and Ratan Watal will also be part of the council.
The council will be responsible for analyzing issues referred by Modi and go on to advise the Prime Minister on the right course of action.
The Modi government is stressed and anxious as the GDP growth from April to June quarter fell to just 5.7%. This is the fifth consecutive drop in the GDP quarterly growth.
The key term for the reference of the council is, “Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister. This could be either suo motu (on its own motion) or on reference from the Prime Minister or anyone else.”
