DeMo supporter K Subramanian appointed as Chief Economic Adviser

The government on Friday, December 7, appointed ISB Hyderabad professor Krishnamurthy Subramanian as Chief Economic Adviser for a period of three years.

The post of CEA had been lying vacant since Arvind Subramanaian left the finance ministry on June 20, 2018, after a four-year stint .

"The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser," said a government notification.

His appointment will be for a period of three years, it said.

Like Raghuram Rajan, Subramanian is a Chicago-Booth alumni as he holds a PhD from there. Coincidentally His MBA and PhD in Financial Economics was under the guidance of Professor Luigi Zingales and Professor Raghuram Rajan.

However, unlike his predecessor Arvind Subramanium, who had termed demonetisation a "draconian" move, Subramanian has been a strong supporter of the move. Through several writings and publications he has defended the move by the government which even Raghuram Rajan who had held the CEA's office had virtually called "a speed breaker for growth."

Subramanian serves on the boards of Bandhan Bank, the first bank to be licensed after independence in eastern India, the National Institute of Bank Management, and the RBI Academy.