New Delhi:
The government on Thursday extended the tenure of Chief Economic Adviser (CEA) V Anantha Nageswaran for two years till March 2027.
Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi approved the tenure of Mr Nageswaran on contract basis up to March 31, 2027, sources said.
Mr Nageswaran assumed charge of the CEA on January 28, 2022 by the government. The office of CEA is responsible for giving advice to the government on various economic policies, and drafting of economic survey that is tabled in Parliament a day ahead of the Union Budget.
Mr Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeded K V Subramanian.
His extension comes weeks after Economic Survey 2024-25 projected a growth of 6.3-6.8 per cent for the next financial year amid Asia’s third-largest economy showing signs of moderation.
As per the government’s advance estimates, the economy is expected to grow at 6.4 per cent in the current financial year.
Prior to taking over as CEA, Mr Nageswaran worked as an author, teacher and consultant. He has also been a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021.
Besides, he has taught at several business schools and institutes of management in India and Singapore and has published extensively.
Mr Nageswaran holds a Post-Graduate Diploma in Management (MBA) degree from the Indian Institute of Management, Ahmedabad. He obtained a doctoral degree in Finance from the University of Massachusetts in 1994 for his work on the empirical behaviour of exchange rates.
He was the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University.
Mr Nageswaran helped co-found the Takshashila Institution, an independent centre for research and education in public policy and helped launch the first impact investment fund of the Aavishkaar Group in 2001.
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