Sanjay Kumar Mishra, the former chief of the Enforcement Directorate (ED), was appointed to the Economic Advisory Council to the Prime Minister (EAC-PM) on Wednesday. A 1984-batch Indian Revenue Service (IRS) officer from Uttar Pradesh, Mishra joins the council at the rank of Secretary. His induction is widely viewed as a significant move, considering his extensive background in financial investigations, regulatory enforcement, and tackling high-profile economic crimes during his tenure at the ED.
The EAC-PM functions as an independent, non-constitutional advisory body, dedicated to providing expert analysis and policy recommendations directly to the Prime Minister on a range of economic issues. It offers insights into macroeconomic trends, economic challenges, and strategies to boost growth, employment, and financial stability. The council plays a pivotal role in shaping the economic direction of the country by advising on key sectors like fiscal policy, trade, industrial development, and public expenditure.
Mishra’s tenure as the ED chief, starting in 2018, was marked by a series of high-stakes investigations into alleged financial irregularities and money laundering cases involving prominent political figures, business leaders, and celebrities. Among the most notable cases he supervised were those involving former Union Finance Minister P. Chidambaram, Karnataka Deputy Chief Minister D.K. Shivakumar, Nationalist Congress Party leader Sharad Pawar, former Jammu and Kashmir Chief Ministers Mehbooba Mufti and Omar Abdullah, Jharkhand Chief Minister Hemant Soren, and former West Bengal Education Minister Partha Chatterjee, among others. His leadership at the ED also saw investigations into high-profile business tycoons and corporate entities accused of financial misconduct, loan defaults, and money laundering under the Prevention of Money Laundering Act (PMLA).
His term at the ED became a focal point of national debate, not only because of the scale and prominence of the cases under his watch but also due to the unprecedented extensions he received. Initially appointed for a two-year term, Mishra was granted multiple extensions by the central government, reflecting the administration’s confidence in his leadership. However, this move sparked legal battles, culminating in the Supreme Court declaring his third extension illegal, citing the importance of upholding procedural integrity and fixed terms in sensitive law enforcement appointments.
Mishra’s appointment to the EAC-PM is seen as a strategic decision, given his deep understanding of financial systems, economic offenses, and regulatory frameworks. Analysts suggest that his expertise in tracing illicit money flows — both domestic and international — and dismantling complex financial networks could prove valuable in shaping policies aimed at improving financial transparency and strengthening India’s economic governance. His experience in high-stakes enforcement could contribute to the council’s recommendations on tackling tax evasion, money laundering, and cross-border economic crimes, which are increasingly relevant in a globalized economy.
The move has, however, generated mixed political reactions. Opposition parties, which previously accused Mishra of selectively targeting political rivals during his time at the ED, have questioned the timing and intent behind his appointment. They argue that the decision reflects an attempt to reward loyalty and continue wielding influence through strategic appointments. In contrast, supporters argue that Mishra’s track record in cracking down on economic offenses speaks for itself, and his transition to an advisory role brings a practical, enforcement-oriented perspective to policymaking — particularly in areas like financial regulation, economic compliance, and tackling corruption.
Beyond his enforcement background, Mishra’s appointment signals a broader trend in the government’s approach to economic advisory roles — bringing in figures with hands-on experience in navigating India’s complex financial and legal landscape. His insights are expected to contribute to shaping reforms that ensure economic resilience, promote ease of doing business, and foster a more accountable financial environment.
As Mishra steps into this new role, his tenure will likely be closely watched for how his enforcement experience translates into actionable economic strategies and whether his presence influences the council’s stance on contentious issues like regulatory overreach, economic transparency, and political impartiality in financial investigations.
