State-run agencies have bought 11.92m tonnes of wheat from farmers so far this season, down 25% on the 15.92m tonnes bought in the same period a year ago
News about Bhalla’s resignation comes a day after the governor of India’s central bank, Urjit Patel, quit abruptly after a months-long tussle over policy with the government.
Modi formed the council late in 2017 to address issues of macroeconomic importance.
The spokesman said Bhalla planned to join another organisation.
Bhalla was not available for comment.