Ahead of the Union budget 2022, the central government on Friday appointed Dr V Anantha Nageswaran as the Chief Economic Advisor (CEA), who has previously worked as a writer, author, teacher and consultant, has assumed charge today, January 28.
Dr Venkatraman Anantha Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds former CEA KV Subramanian who returned to academia at the end of his three-year tenure in December.
Prior to his appointment, Nageswaran has taught at several business schools and institutes of management in India and in Singapore and has published extensively.
Previously, he was the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University. Nageswaran has also been a part-time member of the Economic Advisory Council to the Prime Minister of India from 2019 to 2021.
Apart from Nageswaram, the others in the shortlisted candidates for the post were Principal Economic Adviser Sanjeev Sanyal, Pami Dua, Professor, Delhi School of Economics and Poonam Gupta, Director General, National Council of Applied Economic Research (NCAER). The selection committee headed by NK Singh, Chairman of 15th Finance Commission, had shortlisted four names.
The new CEA will be responsible for providing fresh ideas to bolster growth, investments and limiting fiscal deficit. In his new role, Nageswaran would be required to share views on key policy matters with the finance minister as well as being the lead author of the Economic Survey, which is the annual report card of the economy that gets tabled in Parliament ahead of the budget.
The government, in October 2021, had invited applications for the post of chief economic adviser CEA to replace KV Subramanian, who completed his three-year tenure.
In his statement, he mentioned that he has decided to return to academia. “I have decided to return back to academia following the completion of my 3-year fulfilling tenure as the Chief Economic Adviser, Government of India,” he said.
Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2022-2023 on February 1. The Economic Survey is slated to be presented on January 31.