Former Reserve Bank of India (RBI) governor Urjit Patel will take over as the next chairman of the National Institute of Public Finance and Policy (NIPFP) from June 22, replacing noted economist Vijay Kelkar.
Patel had resigned as the head of the central bank in December 2018, well before the end of his term, at the peak of a tussle between the RBI and the finance ministry. He was the deputy governor (economist) of the RBI before being elevated to the top post in September 2016.
The usual tenure of the NIPFP chairman is four years, which can be extended. Kelkar was appointed chairman on November 1, 2014.
Founded in 1976, the NIPFP undertakes research, policy advocacy and capacity building in areas related to public economics. One of the major mandates of the institute is to assist the central and state governments in formulating and reforming public policies by providing an analytical base.
The institute was set up as an autonomous society, at the joint initiative of the ministry of finance, the erstwhile Planning Commission, several state governments and distinguished academicians. It is registered under the Societies Registration Act, 1860.
Although the institute receives an annual grant from the Union finance ministry and various state governments, it maintains an “independent non-government character in its pursuit of research and policy”, according to its website.