Ajit Ranade, a renowned economist and vice-chancellor of the Gokhale Institute of Politics and Economics (GIPE), was dismissed from his position on Saturday following a fact-finding committee (FFC) report that highlighted irregularities in his appointment.
The decision was announced by GIPE Chancellor Bibek Debroy in a two-page letter reviewed by Hindustan Times. The FFC's findings revealed that Ranade’s qualifications did not meet the standards set by the University Grants Commission (UGC) guidelines. The committee concluded that his appointment was "legally untenable," leading to Debroy's decision to terminate Ranade's tenure immediately.
Ranade, who had been serving as vice-chancellor for the past two and a half years, expressed his disappointment with the decision. "This is truly an unfortunate and shocking decision," he told Hindustan Times. "For the past two and a half years, I have been working diligently and to the best of my ability, contributing to positive developments in the institute. These results seem to have been completely ignored."
During his tenure, Ranade initiated several reforms at GIPE, including the establishment of the "Geosquare" centre for geopolitics and geoeconomics, the introduction of two new master’s programmes, and significant infrastructure upgrades. These included expanding hostel capacity and investing ₹50 lakh in the restoration of the heritage SIS Hall.
Despite these achievements, the FFC report highlighted that Ranade’s qualifications did not conform to the UGC’s minimum requirements for the role, which stipulate at least 10 years of experience as a professor. The UGC had acted on a complaint from former GIPE faculty member Murali Krishna, who alleged that Ranade’s appointment breached these eligibility norms.
Critics, including advocate Kaustubh Patil, had long argued that Ranade’s appointment was ineligible under UGC guidelines. Patil also raised concerns about unauthorised staff appointments and increased tuition fees during Ranade’s tenure.
Ranade, who holds a doctorate in economics from Brown University and has a distinguished career in both academia and industry, previously served as the group executive president and chief economist with the Aditya Birla Group. He has been involved in various high-profile committees, including those of the Reserve Bank of India and national industry bodies like CII and FICCI.
The FFC's decision to remove Ranade underscores the importance of adhering to established regulatory norms for academic appointments.
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