Chief Economic Adviser Subramanian steps down

Chief Economic Adviser (CEA) K V Subramanian on Friday said he has decided to return to academia after completion of his three-year term in the finance ministry.

The government had appointed Subramanian, an ISB Hyderabad professor, as the CEA in December 2018. He had succeeded Arvind Subramanian.

In a statement, Subramanian thanked Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman for their support and inspiring leadership.

"I have decided to return back to academia following the completion of my three-year fulfilling tenure," he said.

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K V Subramanian was appointed as the CEA in 2018 taking over from Arvind Subramanian who left citing personal reasons. The outgoing CEA is an alumnus of IIT Kanpur and IIM Calcutta.

The CEO also effusively thanked Prime Minister Narendra Modi for being a keen listener with an intuitive understanding of economic policy and Union Finance Minister Nirmala Sitharaman for allowing the Economic Surveys he presented to be free-spirited.

“In close to three decades of my professional life, I am yet to encounter a more inspiring leader than the Hon’ble Prime Minister, Shri Narendra Modiji. His intuitive understanding of economic policy combines with an unmistakable determination to use the same to elevate the lives of common citizens,” the CEA said about his experiences with the PM.

The CEA leaves at a time when the economy is showing signs of a rebound after being deeply impacted by the COVID-19 pandemic.

The CEA said: “India is witnessing dramatic change. After all, as my late father had dreamt and worked so hard for, a person who was the first-ever in his entire clan to step into the hallowed portals of a university gets the honour to serve the nation. Such an opportunity to “Live the Indian Dream” manifests under a leader who takes equal pride in his humble origins. That such a savant comes away genuinely admiring the leader symbolises an India where meritocracy is in and entitlement is out.”

(With inputs from PTI.)