The government on December 7 appointed Krishnamurthy Subramanian as the Chief Economic Adviser (CEA) to the finance minister for a period of three years.
The main role of a CEA is to advise the government on key economic issues. Besides, the adviser and its team comes out with an annual Economic Survey ahead of Union Budget.
Subramanian, who is currently the associate professor of finance (with tenure) and executive director for the Centre for Analytical Finance at country's premier business-school Indian School of Business, is expected to take charge in the next 10 days.
The post of CEA was lying vacant for over four months, after Arvind Subramanian earlier this year said that he will return back to the US for ‘personal reasons’—to a life of researching, writing, teaching and reflecting.
He had joined as the CEA on October 16, 2014, for a period of three years, which was later extended. Although his official contract was till May 2019, he cut short his extended tenure.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world’s leading experts in banking, corporate governance and economic policy.
In previous academic roles, Subramanian served on the finance faculty at Goizueta Business School at Emory University in the United States. He is an MBA and PhD in financial economics at Chicago’s Booth School of Business under the advice of Professor Luigi Zingales and Professor Raghuram Rajan.