S Mahendra Dev Appointed as Chairman of PM’s Economic Advisory Council

Eminent economist S Mahendra Dev has been appointed as the new Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM). Known for his extensive expertise in agriculture, rural economy, and development economics, Dev brings with him decades of experience in public policy and academia. He stepped down from his post as independent director on the board of Axis Bank following this full-time appointment. His academic pedigree includes a PhD in Economics from Delhi School of Economics and post-doctoral research at Yale University.

Why in News?

On June 5, 2025, S Mahendra Dev was officially appointed as the Chairman of EAC-PM. He resigned from the Axis Bank board the same day, citing the full-time nature of the new role. The appointment signals a strong focus on development-led economic policy, particularly in rural and agricultural domains.

Aim & Objectives of EAC-PM

• Provide independent advice to the Prime Minister on economic and policy matters.
• Analyze macroeconomic trends and recommend strategies for inclusive and sustainable growth.
• Offer guidance on policy implementation, reforms, and structural economic issues.

Profile of S Mahendra Dev

Academic Qualifications

• PhD in Economics – Delhi School of Economics
• Post-doctoral research in Development Economics – Yale University

Professional Roles

• Former Director and Vice Chancellor, Indira Gandhi Institute of Development Research
• Chairman, Institute for Development Studies, Andhra Pradesh
• Editor, Economic and Political Weekly
• Former independent director on boards of Axis Bank and Kotak Mahindra Bank

Areas of Expertise

• Agriculture and food security
• Poverty and inequality
• Rural development and social protection

Background on EAC-PM

• The Economic Advisory Council to the Prime Minister is a non-constitutional, non-permanent body set up to advise the PM.
• It operates under the NITI Aayog framework, with inputs often shaping major economic decisions.
• Recent heads included Suman Bery, Vice-Chairman of NITI Aayog.

Significance of the Appointment

• Dev’s academic and policy expertise in agriculture and rural development aligns with India’s current economic needs.
• His leadership is expected to strengthen rural-centric economic strategies, aiding long-term policy formulation.
• As India balances growth with inclusivity, Dev’s insights are anticipated to enhance equitable development planning.