Arvind Subramanian, India's Chief Economic Advisor, to Resign and Head Back to US: Arun Jaitley

New Delhi, June 20: After serving nearly four years as the Chief Economic Advisor to the Government of India, Arvind Subramanian will now be returning to the United States of America. In his Facebook post, Union Finance Minister Arun Jaitley informed about  Subramanian's decision to go back to the United States on account of “pressing family commitments".

Jaitley said Subramanian has to return on account family commitments and added that he had no option but to agree with Subramanian. "His reasons were personal but extremely important for him," Jaitley said. The Finance Minister informed that a few days ago Subramanian met me over video conferencing and had informed him that he would like to go back to the United States on account of pressing family commitments.

When Subramanian, the outgoing Chief Economic Adviser was asked about his last day in office, he said the last day has not been fixed yet. "Soon the process will be started for choosing my successor, let us see how it turns out", Subramanian said.

Arvind said it has been the best job he ever had or will ever have in the future. He said his tenure with the GoI was enriching and exciting. "I will go back with the happiest best memories of this tenure. I will always be committed to serving the country in future", he said.

In a post, that was in full of praise for Subramanian, Jaitley thanked Subramanian for his contribution to the macroeconomic management of Indian economy. The Finance Minister further stated that Subramanian had elevated the quality of the analysis and the presentation of ideas for public deliberation in his four “Economic Surveys”.

Jaitley informed that after the three-year tenure was over, Arvind had told him that he was torn between family commitment and his current job which he considered the best and most fulfilling he has ever done. "Personally I will miss his dynamism, energy, intellectual ability and ideas. He would walk into my room – at times several times a day, addressing me as “Minister” to give either the good news or otherwise. Needless to say his departure will be missed by me. But I know that his heart is very much here. I am sure he will keep sending advice and analysis wherever he is", Jaitley said in his post.

Arvind was appointed as the Chief Economic Advisor on 16th October 2014 for a period of three years. On the expiry of the three years, Jaitley had requested him to continue for some more time.  His term was for three years was to end on October 16, 2017 but Subramanian had got an extension of one year in September last year.

Arvind's predecessor was Raghuram Rajan, who quit the position in September 2013 after being appointed the Governor of the Reserve Bank of India (RBI). Subramanian has been graduated from Delhi's St Stephen's College and got an MBA from the Indian Institute of Management (IIM)-Ahmedabad. He has also received his doctorate from the Oxford University, UK.

(The above story first appeared on LatestLY on Jun 20, 2018 03:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).