Technocratic advice of high quality need not mean much without political buy-in and top level support
The recent announcement that the newly-elected Dravida Munnetra Kazhagam (DMK)-led Tamil Nadu government of chief minister M.K. Stalin will create an economic advisory council (EAC) peopled by well-known economists has rightly been welcomed. Its members include luminaries such as Nobel economist Esther Duflo, former Reserve Bank of India governor Raghuram Rajan and former chief economic adviser Arvind Subramanian. Other members include economist Jean Drèze, who was a member of the now-defunct National Advisory Council set up under the previous Congress-led Union government, and former Union finance secretary S. Narayan.