On Friday, PM Narendra Modi government appointed the professor of Indian School of Business (ISB) Hyderabad – Krishnamurthy Subramanian as the new Chief Economic Advisor (CEA) of the country for a three-year-long tenure.
After Arvind Subramanian resigned as the Chief Economic Advisor of India in August before his tenure end in May 2019, the topmost finance ministry position was vacated. Filling in the seat vacated by Subramanian, the Centre appointed Krishnamurthy Subramanian as the new CEA of India for an extended tenure of three years. Krishnamurthy holds an engineering degree, MBA and a PhD from the University of Chicago’s Booth School of Business, and is currently working as an associate professor of finance and Executive Director for the Centre for Analytical Finance at the Indian School of Business in Hyderabad.
In the past decade, K Subramanian has gained experience in with governmental economic bodies as he has served as a member of expert committee for SEBI and was also in boards of the Reserved Bank of India (RBI), Bandhan Bank and the National Institute of Bank Management. With the governance-related experience and expertise in financial policies, the top-ranking IIT-IIM alumnus, who had wrote in support of demonetisation was at the top among the list of experts who were likely to become the next Chief Economic Advisor of India.
Known for being a seasoned expert in banking sector and a supporter of note ban, Krishnamurthy Subramanian might be expected to revive the fall of banks in the country. His expertise has already been put to use by the country and the extraordinary combination of academic- and policy-relevant skills to the job will prove him to be an astute chief for the nation’s economy. He has also written papers about how to ward off a “witch hunt” against bankers using the Prevention of Corruption Act amendments.