Arvind Subramanian to stay on as Chief Economic Advisor

Arvind Subramanian gets one-year extension as Chief Economic Advisor

The Finance Ministry in a tweet said: "CEA Dr. Arvind Subramanian will continue for one more year after completion of his 3 year tenure on 16th October, 2017".

As the government prepares to offer much-needed succour to lift growth, chief economic adviser (CEA) Arvind Subramanian on Saturday said the economy was facing challenges on multiple fronts and required a measured response "across the board". The minister said he had cleared the proposal for the chief economist's extension.

On the stimulus package, the CEA said, it is being worked out and an announcement will be made at an appropriate time.

Struggling to fend government's back-to-back decisions on demonetization and GST after GDP growth dipped to a low of 5.7 per cent, Jaitley on Friday had said that the government was fully prepared for a "responsive action" to boost the economy.

Sources said that Subramanian had been keen to leave for the U.S. at the end of his term next month to return to his family but was requested to stay back.

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Arvind took oath on 16 October 2014 a year after Raghuram Rajan vacated the post and signed up as RBI governor. He was closely involved in drafting the Goods and Services Tax.

CEA (Chief Economic Advisor) is one of the strong hands of the finance ministers and advises the FM and the government on key economic issues related to the national economy as well as global trade.

Subramanian is credited with introducing various out of the box ideas, including Universal Basic Income (UBI) that generated a lot of debate - both within and outside the government.

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