New Delhi, December 7: The government on Friday appointed Dr Krishnamurthy Subramanian as the new Chief Economic Advisor (CEA). Dr Krishnamurthy Subramanian will serve as CEA for three years, reported news agency ANI. The Appointments Committee of the Cabinet approved the appointment of Krishnamurthy Subramanian, Executive Director (Centre For Analytical Finance), ISB, to the post of CEA, the Department of Personnel and Training said.
A PhD (Financial Economics) from the Booth School of Business, University of Chicago, and an alumnus of IIM Calcutta and IIT Kanpur, Subramanian is an expert in banking, corporate governance and economic policy. His services on the expert committees on corporate governance for Securities and Exchange Board of India and on governance of banks for the Reserve Bank of India have established him as one of the chief architects of corporate governance and banking reforms in India, the ISB website says. Demonetisation a Massive, Draconian, Monetary Shock: Arvind Subramanian.
The post of Chief Economic Advisor fell vacant after Arvind Subramanian demitted office in July to return to academia in the US. He had joined as the CEA on October 16, 2014, for a period of three years after which Jaitley had requested him to continue for some more time.