EAC-PM

• Economic Advisory Council to the Prime Minister (EAC-PM) is a non-constitutional, non-permanent and independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.
• The Terms of Reference of EAC-PM include analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon, addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister.
• These could be either suo-motu or on reference from the Prime Minister or anyone else.
• The chairman is appointed from time to time when the body is constituted.

Why in News?

• Sanjeev Sanyal, a member of the Economic Advisory Council, said that the RBI is justified in using the country’s foreign exchange reserves to smooth out volatility in the rupee’s moves against the dollar.
• The rupee has fallen about 7.4% against the dollar year-to-date.

Reference:

1. https://www.thehindu.com/business/Economy/rbi-correct-to-use-forex-reserves-to-tackle-rupee-volatility-says-economic-adviser-sanyal/article65681999.ece