Sanjay Kumar Mishra, former Enforcement Directorate (ED) chief was appointed as full-time member of Economic Advisory Council to Prime Minister (EAC-PM). His appointment follows vacancy left by death of former EAC-PM chairman Bibek Debroy in November 2024.
Government also appointed former Cabinet Secretary Rajiv Gauba as a full-time member of NITI Aayog, India’s apex policy think tank.
About Sanjay Kumar Mishra
Background & Career:
- A 1984-batch Indian Revenue Service (IRS) officer.
- Served as Director of the Enforcement Directorate (ED) from 2018 to 2023.
- Held the rank and pay of Secretary to the Union Government.
Tenure at Enforcement Directorate (ED):
- Originally appointed as ED Director in 2018 with tenure set to expire in 2020.
- Received multiple extensions through government orders and legal amendments, making his tenure the second-longest in ED’s history.
- Oversaw amendments to the Prevention of Money Laundering Act (PMLA), granting extraordinary powers to the agency.
- Faced criticism for the alleged misuse of ED’s powers in targeting political opponents.
- The Supreme Court ruled in July 2023 that extensions after the first one were illegal, following a writ barring further tenure extensions.
About Rajiv Gauba
Background & Career:
- A 1982-batch IAS officer (Jharkhand cadre).
- Served as Cabinet Secretary from 2019 to August 2024.
- Held key positions such as: Union Home Secretary; Secretary, Ministry of Housing and Urban Development (MoUHD) and Chief Secretary of Jharkhand.
New Role in NITI Aayog: Joins as a full-time member, working alongside:
- Dr. VK Saraswat (former DRDO chief).
- Prof. Ramesh Chand (Chairman, Institute of Economic Growth).
- Dr. VK Paul (Public Health Expert).
- Dr. Arvind Virmani (Former Executive Director, IMF).
About Economic Advisory Council to Prime Minister (EAC-PM)
What is EAC-PM?
- A non-constitutional, non-permanent, independent advisory body that provides economic advice to the Government of India, specifically the Prime Minister.
- Highlights key economic challenges from a neutral viewpoint.
- Advises on issues like inflation, industrial output, and microfinance.
Functions of EAC-PM:
- Analyzes economic and policy issues referred by the Prime Minister.
- Assesses macroeconomic concerns and trends affecting India’s economy.
- Offers advisory recommendations, which are not binding on the government.
Composition:
- Led by a Chairperson and consists of eminent economists as members.
- No fixed number of members—composition is restructured periodically.
- NITI Aayog serves as the nodal agency for EAC-PM’s administrative, planning, and budgeting functions.
Previous & Current Chairpersons:
- Bibek Debroy (Chairman from 2017 until his passing in 2024).
- Dr. C. Rangarajan (Previous Chairman; held Cabinet Minister rank).
Significance of Appointment
Strengthening Economic Policy:
- Sanjay Mishra’s experience in financial enforcement will help in shaping policy responses to economic crimes and financial regulations.
- Rajiv Gauba’s inclusion in NITI Aayog will reinforce India’s policy planning and governance framework.
Impact on Governance:
- EAC-PM plays a critical role in shaping economic reforms, aiding in decision-making on fiscal and monetary policies.
- With new members, the council is expected to focus on financial stability, taxation, and regulatory affairs.