Ahead of the swearing-in ceremony of the new Congress-led UPA government at the centre, members of the Prime Minister's Economic Advisory Council (PMEAC), headed by Suresh Tendulkar, have submitted their resignations to Prime Minister Manmohan Singh.
"The PMEAC has submitted their resignation to the Prime Minister," Council Chairman Suresh Tendulkar told PTI.
The members of the Council include Saumitra Chaudhuri, M Govinda Rao, G K Chaddha and Satish C Jha.
"PMEAC had a meeting. We have addressed our resignation letters to the Prime Minister," Rao said adding, PMEAC submitted resignation on completion of the term of the UPA government.
On reconstitution of PMEAC, Tendulkar said, "It all depends on the Prime Minister."
Singh had initially constituted PMEAC under the Chairmanship of former Reserve Bank Governor C Rangarajan.
Following the resignation of Rangarajan in August 2008, Tendulkar was appointed Chairman of the Council. Rangarajan left PMEAC to join Rajya Sabha as a member.