Chief Economic Advisor Arvind Subramanian Resigns

Arvind Subramanian, the Chief Economic Advisor (CEA) to the Government of India, has resigned and is set to return to the US in October, Finance Minister Arun Jaitley has said in a post on Facebook, according to the Indian Express.

“Few days ago CAE Arvind Subramanian met me over video conferencing. He informed me that he would like to go back to the United States on account of pressing family commitments. His reasons were personal but extremely important for him. He left me with no option but to agree with him,” he said.

In his post, Jaitley lauded Subramanian for his early diagnosis of the twin balance-sheet that led India to adopt the macro-economic strategy of higher public investment in the Budget of 2015-16. He also credited him with conceptualising the JAM (Jan Dhan, Aadhar, Mobile) trinity as a data base for availing public benefits.

Subramanian had joined the government in October 2014 for a period of three years. In 2017, his term was extended for a year.