My Departure is entirely for personal reasons, says CEA

Chief Economic Adviser Arvind Subramanian has chose to step down from his post, a surprise move that comes four months before the end of his term.

Arvind Subramanian has submitted his resignation and expressed his desire to return to the United States due to family commitments, Union Minister Arun Jaitley announced on Wednesday.

The government on Wednesday said Chief Economic Adviser Arvind Subramanian will leave his position in October after serving for almost four years and would return to the United States.

Subramanian joined as the chief economic adviser on October 16, 2014 for a period of three years, which was extended by another year till October 2018.

"Few days ago, CEA Arvind Subramanian met me over video conferencing".

Subramanian quit owing to family commitments, Jaitley said in his FB post. Jaitley noted, "On the expiry of the three year I had requested him to continue for some more time".

Highlighting Subramanian's approach for structurally evolving India's economy, Jaitley said, "He thought ahead and, therefore, came out with futuristic ideas on rationalisation of removal of "subsidies for the rich", universal basic income, climate change, from "socialism without entry and capitalism without exit" and the four C's that he had historically paralysed decision making". "I am sure he will keep sending advice and analysis wherever he is", Jaitley wrote. I wish Arvind Subramanian and his family all the very best.

Mr Subramanian built up a "strong team of both insiders and outsiders", said the minister. He also served as senior fellow at the Center for Global Development and has authored various books including, 'Eclipse: Living in the Shadow of China's Economic Dominance'. The Chief Economic Advisor's job had multi-facets to it.

Subramanian did his graduation in Economics from Delhi's prestigious St Stephens College and got an MBA from the Indian Institute of Management (IIM)-Ahmedabad. Subramanian took charge in October 2014 succeeding Raghuram Rajan who went on to become the RBI governor.