Surjit Bhalla, eminent economist & consistent Modi govt cheerleader, resigns from EAC-PM

Surjit Bhalla - Niti Aayog

“Modi government tenure best years of economy: This is what Surjit Bhalla, EAC-PM member, had quoted to the Economic Times on 24th October this year. 

Eminent economist and columnist Surjit Bhalla on Tuesday confirmed that he had resigned as part-time member of Economic Advisory Council to the Prime Minister(EAC-PM). His resignation has been accepted by the Government.


Bhalla quoted:

“I resigned as part-time member of PMEAC on 1st December”

Economist Surjit Bhalla on Tuesday announced that he resigned as a part-time member of EAC-PM (Economic Advisory Council to the Prime Minister) earlier this month.

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— ANI Digital (@ani_digital) December 11, 2018

The EAC- PM is headed by Niti Aayog member Bibek Debroy. Economists Rathin Roy, Ashima Goyal and Shamika Ravi are other part-time members.

Bhalla, a Senior India Analyst for the Observatory Group, a New York based macroeconomic policy advisory firm and Chairman of Oxus Research & Investments,  was appointed as a member to PMEAC which is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically to the Prime Minister.

In his column for The Indian Express, called “No Proof Required”, on 1st December, Bhalla, who was considered to be a big cheerleader for the Modi government, wrote:

“I, along with others, also found it inappropriate for NITI Aayog to be directly involved in the presentation of statistical data by the CSO [Central Statistics Office].”
Surjit Bhalla


The economist here, was apparently referring to data released by the NITI Aayog and the Central Statistics Office on 28th November. Former CEA, Arvind Subramanian infact indirectly mocked the NITI Aayog, saying that ‘institutions‘ which do not have technical expertise in calculating the GDP data should not be involved in the process.


Former CEA Arvind Subramanian says Niti Aayog lacks GDP data-calculation expertise; indicates figures could be fudged

Yesterday, RBI governor, Urjit Patel too resigned abruptly from his post, after much speculation. Patel cited “personal reasons” days after an unprecedented face-off with the government.


RBI Governor Urjit Patel resigns; Another first in the history under Modi Govt in India

Bhalla has also taught at the Delhi School of Economics and served as executive director of the Policy Group in New Delhi, the country’s first non-government funded think tank. Since 1999, he has been on the governing board of India’s largest think tank, NCAER.

He has worked as a research economist at the Rand Corporation, the Brookings Institution, and at both the research and treasury departments of the World Bank, and as a consultant to Warburg Pincus. He has also worked on Wall Street in Deutsche Bank and Goldman Sachs.




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