INDIA'S chief economic adviser K V Subramanian on Friday (8) said he would step down from his post and return to academia. The 50-year-old west-educated has been one of the key figures in reviving the country’s economy through infrastructure spending and raised credit availability, Reuters reported.
In a statement, he thanked Indian prime minister Narendra Modi and finance minister Nirmala Sitharaman for their support and inspiring leadership. “I have decided to return back to academia following the completion of my 3-year fulfilling tenure,” he said. He also posted his statement on stepping down on Twitter.
He said, ""India is witnessing dramatic change. After all, as my late father had dreamt and worked so hard for, a person who was the first ever in his entire clan to step into the hallowed portals of a university gets the honour to serve the nation. Such an opportunity to 'Live the Indian Dream' manifests under a leader who takes equal pride in his humble origins. That such a savant comes away genuinely admiring the leader symbolises an India where meritocracy is in and entitlement is out. To be at the helm during such a time of spectacular change is an incredible honour that I will cherish forever."
Subramanian, who is a professor of finance at the Indian School of Business in Hyderabad and holds a doctorate from the University of Chicago Booth School of Business, succeeded Arvind Subramanian in December 2018 after the post remained vacant for more than five months.
His PhD was completed under the supervision of former Reserve Bank of India governor and chief economic adviser Raghuram Rajan. He is also an alumnus of Indian Institute of Technology Kanpur where he studied electrical engineering and Indian Institute of Management Calcutta.
Modi also tweeted to wish Subramanian the very best for his future endeavours.
The government did not immediately announce Subramanian’s successor. He will leave two months before the budget of 2022-23 is announced, Reuters added.
This photograph taken on April 28, 2026 shows a boy getting "thali", a sacred thread tied to his neck symbolising marriage to Hindu warrior god Aravan during the annual Koovagam transgender festival at the Koothandavar temple in Tamil Nadu's Kallakurichi district. For a few fleeting days each year, at the heart of the Koothandavar Temple where ostracised transgender community members from across India come to honour the Hindu deity Aravan, a tradition rooted in millennia-old Hindu texts -- and to enjoy a brief oasis of freedom.Getty Images
This photograph taken on April 29, 2026 shows a member of the transgender community mourning as a priest cuts the "thali", a sacred thread symbolising end of her marriage to Hindu warrior god Aravan during the annual Koovagam transgender festival at the Koothandavar temple in Tamil Nadu's Kallakurichi district. For a few fleeting days each year, at the heart of the Koothandavar Temple where ostracised transgender community members from across India come to honour the Hindu deity Aravan, a tradition rooted in millennia-old Hindu texts -- and to enjoy a brief oasis of freedom. Getty Images