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Chief Economic Adviser to leave finance ministry, return to US

  •   Wed, Jun 20 2018 03:00:42 PM

New Delhi, Jun 20 (PTI): Union Minister Arun Jaitley on Wednesday said that Chief Economic Advisor Arvind Subramanian will be leaving the finance ministry because of "pressing family commitments" and will return to the US.

Subramanian was appointed as CEA to the finance ministry on October 16, 2014, for a period of three years. In 2017 his term was extended for a year.

"A few days ago Chief Economic Advisor Arvind Subramanian met me over video conferencing. He informed me that he would like to go back to the United States on account of pressing family commitments. His reasons were personal but extremely important to him. He left me with no option but to agree with him," Jaitley wrote in a Facebook post.

He further said that on expiry of Subramanian's three-year term in October last year, he had requested him to continue for some more time.

"Even at that stage he told me that he was torn between family commitment and his current job which he considered the best and most fulfilling he has ever done," the minister said.

Jaitley, who was the Finance Minister before undergoing a kidney transplant surgery in mid-May, also thanked Subramanian for his contribution to the macroeconomic management of Indian economy.

"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 wrote.
  

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Comment on this article

  • 57"Chest, Mangalore

    Wed, Jun 20 2018

    Except RSS Shaka educated, Fekus and criminals nobody wants to work for BJP. BJP anyway a sinking ship and is a very disgraceful negative name in virtuous resume'.

    DisAgree [2] Agree [30] Reply Report Abuse

  • Rathan, Mangalore

    Wed, Jun 20 2018

    57" chest
    He worked for initial 3 years and extended one more year,that means he was happy while working.nobody is permanent in this world including you and me

    DisAgree [15] Agree Reply Report Abuse

  • Alwyn, Mangalore

    Wed, Jun 20 2018

    Yes, he worked three years and extended one more year. Now he wants to join his family, and his family is great.
    All these good qualities because he lives in America, not in Gujarath.

    DisAgree [1] Agree [15] Reply Report Abuse

  • 57"Chest, Mangalore

    Wed, Jun 20 2018

    The adviser is smarter than RSS chaddi Bhakts. He knew very well in advance that BJP will go bankcrupt soon, so he packed his bag, collected his dues and scooted right on time. So is for BJP with Shiv Sena, TDP, PDP, Karnataka, followed by other states.

    DisAgree Agree [19] Reply Report Abuse

  • Peter, KSA

    Thu, Jun 21 2018

    After 2014 everyone is leaving to usa and europe. It seems to b western culture issue is died down after Bundle party came to power

    DisAgree Agree [2] Report Abuse

  • Danish, Mangalore

    Wed, Jun 20 2018

    Response of "PEOPLE IN GENERAL" : All the very best for your future endeavors
    Response of "SUBRAMANIAN SWAMY" : He is not Indian at heart, should be sacked.
    Response of "BHAKTH" : He is an Anti-National. Send him to Pakistan.

    Fact: He is fed up and doesn't wish to get himself like Mr.Rajan, into any controversy on 2nd Term.

    DisAgree [2] Agree [36] Reply Report Abuse

  • Salam, Mangaluru

    Wed, Jun 20 2018

    He will join with R.Rajan😅

    DisAgree [3] Agree [15] Reply Report Abuse

  • Anand, Mangalore

    Wed, Jun 20 2018

    Let him contribute to US economy anymore!

    DisAgree [1] Agree [9] Reply Report Abuse

  • Jembar Bappu, BAJPE

    Wed, Jun 20 2018

    Let me get this right. BJ Party said Raghuram Rajan was a foreign import. But they hired Arvind and he is not an import. Truly a blazing example of nationalism anointed by the BJ Pees

    DisAgree Agree [33] Reply Report Abuse

  • SMR, Karkala

    Wed, Jun 20 2018

    Whether Arun Jaitley is Union Minister of Finance as per Finance Ministry website, or whether Piyush Goyal is Union Minister of Finance as per PMO website?
    Let PM Modi answer the following;
    1. Why has the revised GDP series still not been put out in the public domain?
    2. Is it not a fact that the Narendra Modi government is not releasing the data based on new base year because UPA's performance was better than NDA?
    3. Is it not a fact that the current account deficit for the current fiscal has widened to such an extent that international financial institutions are raising serious questions about it?
    4. India's GDP grew by an average of 7.8% during 10 years of UPA as per old GDP numbers. Instead of 'Jumlas', Modiji should tell why did the GDP fall steeply to 6.7% in 2017-18 despite changing the GDP calculation methodology? Was it because of his disastrous DeMo and flawed GST?
    5. Banks are in peril as losses mount to over ₹87500 Cr in Q4. Bank Loot Scams worth ₹61,036 Cr have taken place unchecked?
    6. To top it, Manufacturing in jeopardy as in last 4 yrs,credit to industry declined-5.6%, 2.7%, -1.9% & 0.7 %.
    7. Modiji came to power promising 2 Cr jobs a year. After the global economic meltdown, the UPA II government had created 1 million jobs, but the Narendra Modi Government had hardly created 2.5 lakh jobs per year. Four years down the line, this ‘Maha-Jumla’ has left India’s youth in the lurch. Job creation has been abysmal. Even Niti Aayog has admitted in Feb 2018 that India is plagued by ‘unsatisfactory jobs & underemployment’.
    8. Lastly, petrol prices hurt every Indian has Modi government earned over Rs 10 lakh crore in four years by additional taxes and that the RBI of India's Consumer Confidence Survey May 2018 found 48 per cent Indians felt worsening economic conditions and inflation. Are these the 'Acche Din' that you promised Modiji?
    BJP-Failed in Economy & Modi in Academy. Zero result only talks. When RSS rules nation fails.
    JH

    DisAgree Agree [42] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Wed, Jun 20 2018

    There are big big talents in India itself......................
    And Jaitly is on the top

    DisAgree [2] Agree [16] Reply Report Abuse

  • praveen, u

    Wed, Jun 20 2018

    Appoint Subramanya Swamy in place of Subramanian. Lets see what he achieved.

    DisAgree [3] Agree [26] Reply Report Abuse

  • Thomas, Udupi

    Wed, Jun 20 2018

    He will do more damage on our economy,if 2 lawyers controll the Indian economy then we will be like Sri Lanka.

    DisAgree Agree [9] Reply Report Abuse

  • SMR, Karkala

    Wed, Jun 20 2018

    1.The agriculture sector grew by only 2.5 percent annually between 2014-18, and that agri-exports in 2017-18 were at $38 billion compared with $42 billion in 2013-14.
    Three years after Modi launched the electronic National Agricultural Market, only 585 of the country’s 7,500 mandis have signed up.
    2. The RBI’s Consumer Confidence Survey May 2018 found that 48% of those surveyed felt that economic conditions had worsened in the last 12 months.
    3. There is widespread anger about the artificially fixed prices of petrol, diesel and LPG. There is absolutely no reason why the prices should be higher today than what they were in May-June 2014. It is nothing but a case of fleecing the helpless consumer.
    4. Joblessness is rampant.why has the Labour Bureau Survey for Oct-Dec 2017 not been released?
    5. The tyres on three of the four wheels on which the economy rides are punctured. Firstly exports: the growth rate in the last four years has been negative. Secondly, private investment: it is in the doldrums, if not dead. Gross Fixed Capital Formation is stuck at 28.5% for three years. Thirdly, private consumption: it was limping until a few months ago, there is a mild uptick, and we keep our fingers crossed.
    6. The adverse effects of demonetisation have been established beyond doubt. The growth rate has declined from 8.2% in 2015-16 to 6.7% in 2017-18 exactly 1.5% as I had predicted and endorsed by Dr Manmohan Singh.
    7. A flawed GST continues to haunt trade and business. GSTR Form 2 (for input tax credit) and GSTR Form 3 (for net tax liability) have not been notified so far. Tax liability is being calculated on the temporary GSTR Form 3B, which is illegal. Refunds of thousands of crore rupees have been held up putting businesses, especially exporters, in jeopardy.
    NITI Aayog Vice Chairman has rightly said, "India has overcome Congress legacy, can no more use it as excuse by BJP.
    Chief Economic Advisor Arvind Subramanian bon voyage is the indication that 'Titanic' is sinking.
    JH

    DisAgree Agree [24] Reply Report Abuse

  • sri_elder, Karkala

    Wed, Jun 20 2018

    He was not appointed by upa anyway..

    There are big big talents in India itself!

    DisAgree [29] Agree [7] Reply Report Abuse

  • francis lobo, Mangalore

    Wed, Jun 20 2018

    Ghar Wapasi - to USA. Swaach Bharat

    DisAgree [4] Agree [43] Reply Report Abuse

  • Mangalurian, Mangaluru

    Wed, Jun 20 2018

    Smart rats know when the ship is about to sink.

    So, better desert on time to save from drowning.

    DisAgree [4] Agree [48] Reply Report Abuse

  • Flavian, Mangaluru/Kuwait

    Wed, Jun 20 2018

    Appoint MMS.
    Is he old for the job?

    DisAgree [2] Agree [34] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Wed, Jun 20 2018

    No he's Golden hearted..

    DisAgree [3] Agree [23] Reply Report Abuse

  • JML Joseph, Mangalore

    Wed, Jun 20 2018

    Biggest Flop show ever. Had a very a very unique way of giving complicated explanations which only his F.M could understand.

    DisAgree [3] Agree [34] Reply Report Abuse

  • Lionel, Mangalore

    Wed, Jun 20 2018

    SAD......
    FIRST IT WAS RAGHURAM RAJAN
    NOW IT IS SUBRAMANIAN...
    MODI GOVT IS A BIG FAILURE NOW.....ONE THEY DONT HAVE BIG BRAINS........SECOND THESE NON POLITICAL BIG BRAINS ARE QUITING......THIRD ECONOMY IS ALREADY DOWNWARD TRENDING....FOURTH BIG SHORTS TAKE OUR MONEY AND RUN AWAY AND CHOWKIDAAR IS IN SLEEPING MODE TILL NEXT YEAR.....GOD SAVE MY NATION
    BARBAAD JANATHA PARTY....

    DisAgree [5] Agree [37] Reply Report Abuse

  • Moshu, Mangaluru

    Wed, Jun 20 2018

    Before he leave, let ED intervene and find out overseas bank accounts if any he held under his or his family names.

    DisAgree [8] Agree [43] Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Wed, Jun 20 2018

    BJP A TOTAL FLOP ON ALL FRONTS..

    DisAgree [7] Agree [61] Reply Report Abuse


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