Finmin begins hunt for next Chief Economic Advisor

The finance ministry has sought applications to select a Chief Economic Advisor to replace Krishnamurthy Subramanian, who steps down from the post in early December.

The government has published advertisements in  newspapers. According to the eligibility criteria, a doctorate in economics or finance is desirable but not essential (a master's degree is essential), and the maximum age limit for applying for the post is 56 years.

The candidate should also have at least six years of experience in economic research, including one-year administrative experience in central or state governments, state-owned entities, Reserve Bank of India or recognised universities or autonomous bodies.

The post is open for government officials as well as those from academia, research, regulatory bodies and private financial institutions.

The last day for submission of applications will be 15 days from the publishing of the advertisements that will be mid-November. The government has made it clear that the search committee can invite eligible candidates outside of those who apply.

The eligibility criteria is similar to the one floated when the Centre was seeking a replacement for Arvind Subramanian. The search committee, headed by former RBI Governor Bimal Jalan then, had picked up Subramanian.

The search for a new CEA takes place at a crucial time. Preparations for the Union Budget 2022-23 have started. The 2021-22 Economic Survey, which is tabled in Parliament a day before the Budget, is also being drafted. With Subramanian on his way out, Principal Economic Advisor Sanjeev Sanyal is learnt to have taken the lead in drafting the economic survey.

Apart from being the government's go-to advisor on economic policymaking, the CEA is also the head of the Indian Economic Service cadre.

Subramanian, who announced on October 8 that he will not seek an extension, will go back to Indian School of Business, Hyderabad. He clarified that he had come into the post in 2018 with an intention of serving for three years only.