NEW DELHI: The government on Friday appointed Dr V Anantha Nageswaran as the new Chief Economic Advisor. The appointment comes just days ahead of the presentation of the Union Budget on February 1.
Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted the office of CEA in December 2021 after the completion of his three-year term.
An official statement said Nageswaran assumed charge on Friday.
He holds a post-graduate diploma in management from the Indian Institute of Management, Ahmedabad, and a doctoral degree from the University of Massachusetts for his work on the empirical behaviour of exchange rates.
Nageswaran is a visiting distinguished professor of economics at Krea University. He also worked as a part-time member of the Prime Minister’s economic advisory council between 2019 and 2021. He has also co-authored several books, including ‘The Economics of Derivatives’ and ‘The Rise of Finance: Causes, Consequences and Cures’.
The CEA, who is a secretary rank official attached to the finance ministry, is traditionally the main author of the economic survey. He reports directly to the Finance Minister. This year, the survey, which is tabled in Parliament by the Finance Minister, is being prepared by the principal economic advisor and other officials.
The appointment has come at a time when economy is showing signs of revival, but faces some fresh challenges due to the impact of the third wave of the pandemic.