The Economic Advisory Council has been set up with a view to provide a sounding board for inculcating awareness in Government on the different point of view on key economic issues. The Economic Advisory Council has been reconstituted time and again with different organisational setup headed by various economists who are of recognised international eminence.

The importance of Economic Advisory Council can be gauged by the fact that Sh. Atal Bihari Vajpayee the then Prime Minister, was the chairman of the Economic Advisory Council. The present Economic Advisory Council is headed by Dr. C. Rangarajan and has the following economists as its members:

	Dr. G.S. Chadha, Member
	Dr. M. Govinda Rao, Member
	Dr. Satish C. Jha , Member
	Dr. Saumitra Chaudhuri, Member
	Dr. Suresh Tendulkar, Member