Know All About Bibek Debroy New Chief Of PM's Economic Advisory Council

News World India | 0
| September 26 , 2017 , 12:43 IST

Amidst criticisms over a slow-down of the economy attributed to demonetisation and implementation of the Goods and Services Tax (GST), the government has reconstituted the Economic Advisory Council (EAC), appointing noted economist Bibek Debroy as its chairman to guide the Prime Minister on various economic issues.

The Economic Advisory Council had become defunct in 2014 when the former RBI governor C Rangarajan had resigned as Chairman, the same year the NDA had come into power since.  

“The five-member council consists of economists of high repute and eminence,” a government release said. The reconstituted council now includes Rathin Roy, Ashima Goyal, Surjit Bhalla and Ratan Watal.

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Hailing from Kolkata Bibek Debroy studied from the Ramakrishna Mission in Narendrapur before completing his graduation in economics from Kolkata's Presidency College. After his graduation, he pursued his higher studies at the Delhi School of Economics and went on for higher studies at the Trinity College Cambridge.

Beginning his career as an academic, Debroy taught at his alma mater Presidency College (1979-83) and then at the Gokhale Institute of Politics and Economics in Pune (1983-87), Indian Institute of Foreign Trade Delhi (1987-93), National Council of Applied Economic Research (Delhi).

In 1993, Debroy began his career as an economic advisor when he was appointed Director of a Ministry of Finance/ UNDP project on legal reforms where he continued till 1998 before returning to teaching at the Rajiv Gandhi Institute for Contemporary Studies.

Debroy then became the Secretary-General of the PHD Chamber of Commerce and Industry from 2005-2006, and then was with the Centre for Policy research for 8 years from 2007 to 2015.

From the inception of the Indian Government's policy think tank NITI Aayog in January 2015, Debroy has been associated with it as a member and was also a member of the National Manufacturing Competitive Council from November 2004 to December 2009.

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In 2015, Debroy headed a panel for restructuring the Indian Railways, which suggested that there the accounting system should be shifted to a commercial one, the private entry should be allowed in railway freight manufacturing and that the rail budget should be done away with.

Apart from work in the economic field, Debroy is the author of a 10-volume unabridged version of the Mahabharata and has completed translations of the Harivamsa, Bhagavad Gita and the Ramayana and is currently working on a translation of the Bhagavata Purana.

A Padma Shri awardee, Debroy received the honour in 2015 and was also given a Lifetime Achievement Award at the US-India Business Summit in 2016.