Prime Minister of India Narendra Modi has constituted the Council of Economic Advisers. This Council has included well-known economists whose work will be to the Prime Minister to give advice on economic matters.

The term of the previous Economic Advisory Council was terminated with the tenure of former Prime Minister Manmohan Singh. Prime Minister Narendra Modi had not formed this council after the formation of a new government.

Now, after about three and a half years, he has made a group of economists as their consultants.

The question arises as to what may be the reason that it was not initially formed. Why was this council designed by Modi now?

Professor DM Diwakar, economics professor at the NN Sinha Institute of Social Studies in Patna, told the BBC, "When the notes ban was announced, those who understand economics in the country and the world have rejected it.

At that time it seemed that such a mistake would have been made if Prime Minister Modi had good financial advice.

Today, when the economy is rolling down, in the way that GST was implemented without any preparation, it is suspected that due to this the economy will get rolled.

It is being estimated all around. Now if the economists' team has been prepared then it is too late.

The other thing is that in 2019 elections are going to take place. It will be a challenging task to get the economy back on a year and a half.

Today the entire business of the informal sector has settled down. Despite this, if the economist starts talking about it, then we have another fear.

The Governor of the Reserve Bank of India Raghuram Rajan and the Vice Chairman of the NITI Aayog Arvind Pangariya left their jobs, all have seen.

Based on the way Modi's work is done, there is no hope that some implementation will be made on economists' suggestions.

It would be good if new policies were made with thoughtful votes and any economic policy was ready.

In that if the basic principles of economics are kept in mind then the economy will not get worse.

The head of this council will be Bibek Debroy, also a member of the NITI Aayog. He had prepared a policy letter.

From that letter based on agriculture, it does not seem that they carry the Indian fundamentalist thinking of the economy together.

The way Bibek Debroy is running today, Bibek Debroy is the people in favor of corporate governance and will talk about big industries.

But the backbone of the Indian economy, in the direction of the unorganized sector businesses and industries, Bibek Debroy's thinking will not suit the economy right now.

As the Chairman (Bibek Debroy), if the other people have been kept to understand their point of view, then this council has no hope.

But due to the democratic process, the rest of the people will be heard, perhaps something will happen.

If it is the case with the basic principles of economics, then the way to get rid of the damage done so far can be found.

It is necessary that the debate between the group of economists in India is expedited.

Modi Government made the impression that nothing happened in 70 years. Based on this, the Planning Commission was abolished in the funeral.

There was at least one such thing in the Planning Commission that there was a sense of disagreement about ideas. The government also listened to the people standing in their protest on this forum.

Montek Singh Ahluwalia, deputy chairman of Planning Commission, used to print articles against his own government's policy.

After making of NITI Aayog, this aspect of the Planning Commission was over. Maybe the planning commission is not of any use. We understand everything or our people know everything or our political agenda is the final one.

Whatever may be the reason, the same can be said better.

But after the expiration of the term of the Planning Commission and the Economic Advisory Council which kind of form it was, it was a deliberate effort. Running according to your own and it was not in the country's interest.

Like the Planning Commission or like the Financial Advisory Committee, if they had a think tank, then they did not advise the notes ban.

Today the countries of the world are also surprised to see that the country which was walking with its highest growth rate after the global recession. Such a rollback was made after the notes ban, and after that GST was implemented in such a hurry, the consequences are terrifying.

The Modi government has reviewed and especially for young people. Worry is also that if the growth rate is going down fast, then where will the expenses of the government come from?

However, for this, they have put together the expenses of plan and non plan, so that they do not know that what is the cost of development and what about maintenance? ''

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