The Union government appointed on Friday Krishnamurthy Subramanian, associate professor of finance at the Indian School of Business (ISB), Hyderabad, and an expert in banking, corporate governance, and economic policy, as the new chief economic advisor (CEA). The appointment comes almost six months after Arvind Subramanian’s abrupt resignation from the position.
The appointment is “for a period of three years w.e.f. the date of his assumption of charge of the post, or until further orders, whichever is earlier”, the finance ministry said in a tweet.
Subramanian, who has an MBA and a Ph.D. (finance) from the Booth School of Business, University of Chicago, is also on the boards of Bandhan Bank and the National Institute of Bank Management. He also serves as a member of the Securities and Exchange Board of India’s standing committees on alternative investment policy, primary markets, secondary markets, and research.
His predecessor Arvind Subramanian was picked by Prime Minister Narendra Modi for the CEA’s post in 2014, after former International Monetary Fund (IMF) chief economist Raghuram Rajan took over the reins of the Reserve Bank of India.