ISB Professor Krishnamurthy appointed new CEA

​Hyderabad: The Union government on Friday appointed ISB Hyderabad professor Krishnamurthy Subramanian as Chief Economic Adviser for a period of three years. The post of CEA had been lying vacant since Arvind Subramanian left the finance ministry after a four-year stint in July this year.

"The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser," said a government notification.

His appointment will be for a period of three years, it said. An IIT-IIM alumnus, Subramanian holds Ph D (Financial Economics) from Booth School of Business, University of Chicago, the US. The government had invited applications for the post CEA in July.

The appointment of an ISB faculty member to a very important office in the Government of India "is very prestigious and something we all should be proud of", ISB dean Rajendra Srivastava said. Subramanian's association with ISB started with a visiting appointment in 2009 and joined ISB in 2010 as Assistant Professor in the Finance area, he added. Srivastava said more recently, in 2017, Subramanian was appointed the Executive Director of the Centre for Analytical Finance .

The key responsibilities of the CEA include providing policy inputs on industrial development and foreign trade, conducting analysis of trends in industrial production and releasing statistical information on key economic indicators.

It could not be ascertained immediately when the new CEA would assume office. According to the ISB website, Subramanian is one of the leading experts in banking, corporate governance and economic policy.