A professor from the Indian School of Business (ISB) Hyderabad, Krishnamurthy Subramanian, was appointed as the Chief Economic Adviser (CEA) on Friday. Subramanian is currently serving as associate professor of finance and executive director for the Centre for Analytical Finance at the ISB. The CEA’s post has been lying vacant since Arvind Subramanian left the Finance ministry after a four-year stint in July. Subramanian is an IIT-IIM alumunus.
He obtained his PhD in Financial Economics at the University of Chicago Booth School of Business under the advice of former CEA and Reserve Bank of India (RBI) Governor Professor Raghuram Rajan and Professor Luigi Zingales.
“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,” the government notification said, adding, “His appointment will be for a period of three years in Level 17 of the pay matrix as per the 7th Central Pay Commission (Rs 2.25 lakh fixed).”
The CEA advises the Finance ministry on macro-economic matters and his primary responsibility includes authoring the mid-year analysis and the Economic Survey. A leading expert in banking, corporate governance and economic policy, Subramanian has served on expert committees on Corporate Governance for the Securities and Exchange Board of India (Sebi) and on Governance of Banks for the RBI. He was also on Sebi’s standing committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research.
Besides this, he serves on the boards of Bandhan Bank, the National Institute of Bank Management, and the RBI Academy.
Before beginning his academic career, Subramanian worked as a consultant with JPMorgan Chase in New York. He has also served in a management role at ICICI Bank.
In previous academic roles, he served on the finance faculty at Goizueta Business School in Emory University, USA.
