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Informist, Thursday, Feb. 20, 2025

--Govt: V Anantha Nageswaran's term as CEA extended until Mar 31, 2027 

NEW DELHI – The government has extended the term of its Chief Economic Adviser V. Anantha Nageswaran by two years till March 2027, the finance ministry said in a notification Thursday. "...is extended upto Mar. 31, 2027, or until further order, whichever is earlier," the notification said. Nageswaran was first appointed to the post on Jan. 28, 2022, for three years.

Before assuming office as the government's top economist, Nageswaran was a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021. Notably, until Thursday's notification, he was seen among the front-runners for the position of deputy governor in the Reserve Bank of India that remains vacant after Michael Patra's retirement on Jan. 14. Patra was in charge of the crucial monetary policy, economic and policy research, and financial markets operations departments.

Informist had reported earlier in the day, citing a senior finance ministry official, that the chief economic advisor's term will get extended by two years.

With Nageswaran's appointment as chief economic adviser coming just two days ahead of the presentation of the Economic Survey for the financial year 2021-22 (Apr-Mar), he did not author the report. Since then, he has helmed three economic surveys so far--for FY23, FY24, and FY25. The finance minister tables the Economic Survey in Parliament ahead of presenting the Union Budget for the following financial year. The latest Economic Survey has projected India's real GDP growth at 6.3-6.8% for FY26, against the four-year low of 6.4% growth estimated for FY25.

Before his appointment in the government, Nageswaran taught at several business schools and institutes of management in India and in Singapore and has published extensively. Beyond academia, he has extensive knowledge of the financial markets as he worked for the Union Bank of Switzerland, now UBS, and Credit Suisse in Switzerland and Singapore between 1994 and 2004. In July 2006, he joined Julius Baer in Singapore as head of research for Asia. In March 2009, he was appointed the banking institution's chief investment officer.  End

Reported by Priyasmita Dutta

Edited by Rajeev Pai

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