V Anantha Nageswaran’s Term as Chief Economic Advisor Extended to March 2027

The Indian government has extended the tenure of V Anantha Nageswaran as Chief Economic Advisor (CEA) until March 2027, marking a significant development in the nation’s economic leadership. The extension was confirmed by the Ministry of Finance with approval from the Union Cabinet’s appointments committee led by Prime Minister Narendra Modi. Nageswaran has been instrumental in advising the government on economic policies and drafting the annual Economic Survey, which precedes the Union Budget. His extended term comes amid concerns about the country’s economic slowdown, with the Economic Survey projecting a GDP growth of 6.3% to 6.8% for the next fiscal year (FY26).

Key highlights from Nageswaran’s tenure and the government’s economic outlook include his insights into India’s role in the global economy, the challenges ahead, and the importance of sustained long-term growth. Despite global economic uncertainties, Nageswaran remains optimistic about India’s position as the fastest-growing major economy.

Key Points

Extension of Tenure

• V Anantha Nageswaran’s role as CEA has been extended to March 2027.

Economic Survey

• Nageswaran played a key role in drafting the Economic Survey 2024-25, which projected GDP growth of 6.3% to 6.8% for FY26.

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Economic Outlook

• India’s economy is showing signs of a slowdown, with GDP growth dropping to 5.4% in the September quarter.

Global Economic Risks

• Nageswaran highlighted the volatility in global stock markets and other external factors affecting India’s growth.

Sustainability in Growth

• Nageswaran emphasized the importance of sustaining long-term growth to create jobs and address structural economic challenges.

Past Roles

• Prior to his appointment as CEA, Nageswaran held key positions at Credit Suisse, Julius Baer, and was part of the Prime Minister’s Economic Advisory Council (PM-EAC).

Important Role Maker

• The government’s decision to extend Nageswaran’s tenure reflects confidence in his expertise during a critical period for India’s economy.
• His background in both academia and the corporate sector, coupled with his involvement in shaping India’s economic policies, positions him as a pivotal figure in the country’s economic future.