The Indian Economic Service was introduced by Prime Minister Jawaharlal Nehru[2] for formulating and implementing economic policies and programmes in India. The initial steps towards formation of service can be traced to 1952.[2] A Committee under V. T. Krishnamachari submitted a report in September 1953, recommending the formation of a service to be known as the Statistical and Economic Advisory Service.[2] On the contrary, Prasanta Mahalanobis did not favour the idea of a combined Statistical and Economic Advisory Service.[2]

The Cabinet in its meeting held on 12 February 1958 decided that two separate services should be formed; a Statistical Service and other an Economic Service.[2] The Indian Economic Service was constituted on 1 November 1961 and the Service Rules were notified on the same date. The actual operationalization of service took place in 1964.[2]

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