Context: Prime Minister chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM) in which members discussed measures to sustain and accelerate India’s economic growth amid an uncertain global environment. About the Economic Advisory Council to the Prime Minister (EAC-PM) The Economic Advisory Council to the Prime Minister (EAC-PM) is an independent advisory body established to provide expert advice to the Government of India, particularly to the Prime Minister, on economic and related matters. Functions of EAC-PM Examines economic and other issues referred to it by the Prime Minister and offers recommendations. Studies major macroeconomic developments and submits its views and policy suggestions to the Prime Minister. May take up issues on its own initiative or based on references received from the Prime Minister or other sources. Undertakes any additional assignments entrusted to it by the Prime Minister from time to time. Nature of the Council The recommendations of the EAC-PM are advisory and are not mandatory for the Government to implement. Besides policy advice, the Council contributes to improving public understanding and awareness of economic issues. Composition The Council is led by a Chairperson and comprises distinguished economists as members. Its work is supported by a team of administrative and professional staff. There is no predetermined or fixed number of members or supporting personnel. Administrative Support For administrative, logistical, planning, and budgetary matters, NITI Aayog acts as the nodal agency for the EAC-PM. Current Facts Thirukkural (595) With rising flood the rising lotus flower its stem unwinds; The dignity of men is measured by their minds Explanation: The stalks of water-flowers are proportionate to the depth of water; so is men's greatness proportionate to their minds.
