Hours after the Ministry of Finance confirmed the extension of Chief Economic Advisor to the Government of India Dr. Arvind Subramanian's tenure for one more year, the later expressed his delight over the same saying that the government is working on multiple fronts.
Hours after the Ministry of Finance confirmed the extension of Chief Economic Advisor to the Government of India Dr. Arvind Subramanian’s tenure for one more year, the later expressed his delight over the same saying that the government is working on multiple fronts. “We have to revive growth, investment, exports. As the finance minister had said, in days ahead, you will know what the government is planning to do, Subramanian told ANI. We do have some transitional issues that we are working through, will have to see how the economy can overcome these challenges, he added.
Subramanian, whose term was scheduled to end on October 16, will continue as the CEA for another year, the Ministry of Finance confirmed in a statement a while ago. Subramanian, who is the principal author of the annual Economic Survey, took over as the CEA in October, 2016 owing to a vacancy post the appointment of Raghuram Rajan as the Reserve Bank of India (RBI) governor in September 2013. Earlier in the week, the finance minister had denied reports of Subramanian’s resigning after media outlets reported he might do so before his tenure was completed.
The CEA is also considered as one of world’s top 100 thinkers. He is largely known for ideating the term ‘JAM’-Jan Dhan, Aadhaar, Mobile, which was introduced in 2015. The ‘JAM agenda’ aims at empowering the economic stature of the poor, and raise efficiency by reducing leakages and market distortions. According to ANI, he was also ranked amongst the top one percent of the world’s academic economists in terms of citation of research, according to the widely used REPEC rankings.
Subramanian was very closely involved in drafting the most anticipated Goods and Services Tax (GST) norms which was implement by PM Narendra Modi in a special parliamentary session earlier this year.