Chief Economic Adviser Subramanian steps down; to return to academia

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Chief Economic Adviser K.V. Subramanian will be leaving the Finance Ministry to return to academia following the completion of his "3-year fulfilling tenure".

The Centre is yet to announce Subramanian's successor.

"I have decided to return back to academia following the completion of my 3-year fulfilling tenure. Serving The Nation has been an absolute privilege and I have wonderful support and encouragement," Subramanian said in a tweet announcing his decision to move out from the North Block.

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

He will best be known for his work on framing the country's economic policies during the time of the pandemic. He has always been an optimist, citing that Indian economy would bounce back and register a V shaped recovery post the pandemic disruptions.

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Subramanian is a prominent name in the Indian banking sector.

He has served on the expert committee on governance of banks for the Reserve Bank of India. He has previously served as a member of the Board of Directors at Bandhan Bank and the National Institute of Bank Management.

Subramanian also serves as Associate Professor of finance at the Indian School of Business (ISB) Hyderabad. He holds a PhD from University of Chicago.

"Each day that I have walked into North Block, I have reminded myself of this privilege while endeavouring my best to do justice to the responsibility that comes with the privilege. Being provided the opportunity to contribute during a period of tremendous uncertainty and epochal change has been the lucky icing on the cake. So, while being conscious of the enormous privilege bestowed on me, I will happily return back to serving the country as a researcher after fulfilling my three-year commitment," Subramanian said in a statement.

"To be at the helm during such a time of spectacular change is an incredible honour that I will cherish forever," he added.

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