India's Chief Economic Advisor Arvind Subramanian quits, returns to US
New Delhi : Union Minister Arun Jaitley, today, took Facebook to announce that Chief Economic Advisor Arvind Subramanian has submitted his resignation and will be returning to the United States. Jaitley said in his post that Subramanian had told him a few days ago that he would like to go back to the US on due to some family commitments. According to Jaitley, he had no choice but to agree with him.
Arvind Subramanian was appointed as Chief Economic Advisor to the finance ministry on October 16, 2014 for a period of three years. In 2017, his term was extended for a year.
“He would like to go back to the United States on account of pressing family commitments. ..He left me with no option but to agree with him,” Arun Jaitley said in a Facebook post. Subramanian’s term would not be extended, Jaitley said.
In his Facebook note titled ‘Thank you Arvind’, Jaitley said Subrmanian had been “torn between family commitment and his current job” when he had asked him to continue with the service last year.
Subramanian expressed his desire to go back to the United States to Jaitley over video-conferencing, he said.
The CEA is a key person to advice finance minister on macro-economic matters, and primary responsibilities, among others, include authoring the mid-year analysis and the Economic Survey.
Mentioning some of his key achievement, the minister said Subramanian’s four Economic Surveys “have been judged by several independent critics as some of the best ever produced”.
“He [Subramanian] thought ahead and, therefore, came out with futuristic ideas on rationalisation of removal of “subsidies for the rich”, universal basic income, climate change, from “socialism without entry and capitalism without exit” and the four C’s that he had historically paralysed decision making”, Jaitley wrote.
Following Jaitley’s annoumcement, Subramanian said his job as Chief Economic Advisor has been the most “rewarding, fulfulling, exciting” he ever had.