Thursday, October 19, 2017

Chief Economic Adviser Dr Arvind Subramanian given one year extension
Saturday, September 23, 2017 - 3:29:59 PM - By News Bureau
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Dr Arvind Subramanian Chief Economic Adviser
NEW DELHI: The Ministry of Finance announced on 23 September that Chief Economic Adviser Dr Arvind Subramanian, whose three year tenure was coming to an end, has been given a one year extension.

The official Twitter handle of the Finance Ministry, in a post, said, "CEA Dr Arvind Subramanian will continue for one more year after completion of his 3 year tenure on 16th October, 2017".

Dr Arvind Subramanian had assumed the office of India's CEA in October 2014 after Raghuram Rajan vacated it in 2013 to take over as RBI governor, according to media reports.

As CEA, Subramanian has authored the government's annual Economic Survey reports and also came up with solutions to tame India's whopping bad loans worth Rs 6 lakh crore.

The post of the CEA, like that of RBI governor, lasts for a fixed tenure of three years. Dr Arvind Subramanian has been the main go-to person for advice for Finance Minister Arun Jaitley on macro-economic matters and has been the driving force behind several policy changes and sweeping economic measures.

Dr Arvind Subramanian coined the acronym JAM - which stands for Jan Dhan, Aadhaar, Mobile - to encourage technology-enabled, instantaneous monetary transactions, according to media reports. He has been quite vocal in his stand on RBI's monetary policy and spoken openly about the need for a rate cut, media reports added.

A Senior Fellow at the Peterson Institute for International Economics, Dr Arvind Subramanian graduated from St Stephen's College, Delhi, and got an MBA from the Indian Institute of Management, Ahmedabad. He obtained M Phil and D Phil from the University of Oxford, UK.
Chief Economic Adviser
Dr Arvind Subramanian
Raghuram Rajan
Finance Ministry
Finance Minister Arun Jaitley