V Anantha Nageswaran becomes the new Chief Economic Advisor

Ahead of the Union Budget's presentation next month, the government has appointed Dr V Anantha Nageswaran as the new Chief Economic Advisor, who is a secretary rank official attached to the finance ministry and is traditionally the main architect of the economic survey every year.

Dr Nageswaran succeeds KV Subramanian, who demitted office of CEA in December last year after the completion of his three-year term.

Dr. Nageswaran is an academic and Former Executive with Credit Suisse Group AG and Julius Baer Group. He is also a Co-Founder of a venture capital firm and the think-tank Takshashila Institution.

Previously, Nageswaran was the dean of IFMR Graduate School of Business and a distinguished visiting professor of economics at Krea University. He was also a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021.

The challenges on which Nageswaran will have to advise the finance minister and the government would be household incomes and consumptions, that continue to be stressed as inflation and increased healthcare expenditure which have hit the families. Job creation still remains a concern and millions are said to have slipped back into poverty since the pandemic struck India.