Advertisement
Wednesday, Dec 01, 2021
Outlook.com
Outlook.com

Government Begins Search For New CEA, Sanjeev Sanyal In The Lead

Principal economic adviser Sanjeev Sanyal is expected to helm the drafting of the 2021-22 Economic Survey. As the government begins to prepare for the 2022-23 Union Budget, Sanyal is being considered as a potential candidate for the post of CEA.

Government Begins Search For New CEA, Sanjeev Sanyal In The Lead
Government Begins Search For New CEA, Sanjeev Sanyal In The Lead
outlookindia.com
2021-10-12T11:49:12+05:30

The government has begun the search for India's new chief economic adviser (CEA), as KV Subramanian announced that he would be returning to academics after his term gets over on December 7.

Principal economic adviser Sanjeev Sanyal is expected to helm the drafting of the 2021-22 Economic Survey. As the government begins to prepare for the 2022-23 Union Budget, Sanyal is being considered as a potential candidate for the post of CEA.

A committee headed by Bimal Jalan, former Reserve Bank of India governor, was tasked to find the new CEA after Arvind Subramanian quit in 2018. There could be a panel this time too, to appoint India's next CEA.

Subramanian on Friday announced that he would be returning to academia after the successful completion of his three-year term as the CEA. Subramanian took charge on December 7, 2018, five months after his predecessor Arvind Subramanian abruptly resigned citing family commitments.

His last Survey made a strong pitch for an increased health outlay because of the pandemic and also pushed for a regulator for the sector. Subramanian has also been vocal in his criticism of credit rating agencies and their assessment of India, which, according to him, did not reflect the country's true potential.

Subramanian's tenure was marked by a rough patch for the Indian economy. The slowdown that began before the pandemic only got worse with the outbreak of Covid-19. Several studies have shown that the working class, especially migrant workers, were the worst impacted by the pandemic. Some markers do point towards recovery, but several of these are aided by a low-base effect.

"Its been a delight to work with Subramanian. His academic brilliance, unique perspectives on key economic and well policy matters and reformist zeal are noteworthy. Wishing him the very best for his coming endeavours," prime minister Narendra Modi tweeted after the CEA announced his decision.

Subramanian had informed Finance Minister Nirmala Sitharaman as well as the prime minister a few weeks ago that he wasn't keen on continuing as CEA beyond his current tenure that ends on December 7. He would go back to teaching at the Indian School of Business.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

UN Seeks Release Of Kashmiri Activist Khurram Parvez, Amendment In UAPA

UN Seeks Release Of Kashmiri Activist Khurram Parvez, Amendment In UAPA

The UN has sought probe into civilian killings in Jammu and Kashmir’s Hyderpora and called on the security forces and armed groups to exercise restraint.

Omicron Cases Spike: 21 Countries That Recorded New Covid-19 Variant

Omicron Cases Spike: 21 Countries That Recorded New Covid-19 Variant

South Africa, the first nation where the virus variant was detected, has reported 77 cases of Omicron so far, prompting travel bans across the world.

Man United, IPL Big Boys, Sydney Sixers Enter UAE T20 League

Man United, IPL Big Boys, Sydney Sixers Enter UAE T20 League

Lancer Capital has made its first-ever historic foray into cricket by acquiring a franchise in the UAE T20 league. The ECB has already roped in IPL teams like MI, DC and KRR.

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

Five Powerful Indian-Americans Rocking Silicon Valley, Parag Agrawal Latest Addition

As Parag Agrawal becomes the CEO of Twitter, the Indian diaspora's representation in the tech giants of America, especially the companies in Silicon Valley gets a new badge.

Advertisement