K V Subramanian resigned as Chief Economic Adviser

The Chief Economic Adviser (CEA) KV Subramanian has decided to return to academia after the completion of his three-year term in the Finance Ministry of India. KV Subramanian had taken over the charge of Chief Economic Adviser on December 7, 2018. The appointment was made nearly five months after his predecessor Arvind Subramanian had stepped down.

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KV Subramanian, earlier in his career, had been part of the expert committees for the Securities and Exchange Board of India (SEBI) and Reserve Bank of India (RBI). Subramanian has also been well-versed with the private sector, with brief stints in top corporates including ICICI Bank, JPMorgan Chase, and Tata Consultancy Services.

Role of Chief Economic Adviser:

• CEA (Chief Economic Adviser) is a post in the Government of India. It is equivalent to the rank of Secretary to the Government of India.
• The Chief Economic Adviser is head of the Economic Division of the Economic Affairs Department, Ministry of Finance.
• The extent to which the Indian Government takes into account the advice of CEA has generally been considered to be open-ended.

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