KV Subramanian steps down as government's chief economic adviser

Chief Economic Adviser (CEA) KV Subramanian on October 8 announced that he is stepping down from his post, following the completion of his three-year tenure.

"I have decided to return back to academia following the completion of my 3-year fulfilling tenure as the Chief Economic Adviser, Government of India," he said in a statement.

Subramanian had taken over the charge of CEA on December 7, 2018, nearly five months after his predecessor Arvind Subramanian had left the role.

The government is yet to announce Subramanian's successor.

Notably, the outgoing CEA is also a professor at the Indian School of Business (ISB), and was awarded as "Professor of the Year" by ISB for the courses that he taught in the Class of 2019.

Earlier during his career, Subramanian has been part of the expert committees for Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).

The 50-year-old has been well-versed with the private sector, with brief stints in top corporates including JPMorgan Chase, ICICI Bank and Tata Consultancy Services.

Academically, Subramanian has also been a part of the finance faculty at Goizueta Business School at Emory University in the United States.

In the statement confirming his resignation, Subramanian thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for the opportunity provided to him.

"In close to three decades of my professional life, I am yet to encounter a more inspiring leader than the Prime Minister Narendra Modi. His intuitive understanding of economic policy combines with an unmistakeable determination to use the same to elevate the lives of common citizens," he said.