Rangarajan to head PM’s eco council

Economist C. Rangarajan, former chairman of the Twelfth Finance Commission, was on Wednesday appointed chairman of the Economic Advisory Council to the Prime Minister with Cabinet rank.

The other members of the council, all with the rank of ministers of state, are Suresh Tendulkar (former director, Delhi School of Economics), G.K. Chadda (vice-chancellor, Jawaharlal Nehru University), Govinda Rao (director, National Institute of Public Finance and Policy) and Saumitra Chaudhuri, (economic advisor, Icra). The council will advise the PM on policy matters referred to it from time to time. It will prepare monthly reports on developments at home and abroad, monitor economic trends on a regular basis and bring important developments to the PM’s notice.