Krishnamurthy Subramanian

Last updated

Krishnamurthy Subramanian
The Chief Economic Advisor, Dr. Krishnamurthy Subramanian at the National Conference on 'Economics of Competition Law', organised by the Competition Commission of India, in New Delhi on March 01, 2019. (cropped).JPG
17th  Chief Economic Advisor to the Government of India
In office
7 December 2018 (2018-12-07) –6 December 2021 (2021-12-06) [1]
Profession Economist
Academic career
Field Financial economics
Institutions
Doctoral
advisor

Krishnamurthy Venkata Subramanian (born 5 May 1971) is an Indian economist who served as the 17th Chief Economic Advisor to the Government of India. Subramanian is a leading expert on economic policy, banking and corporate governance, who was the youngest Chief Economic Advisor to the Government of India, serving from 2018 to 2021. [2] He has been appointed to the post of India's Executive Director at the IMF, with effect from November 1, 2022.

Contents

Education

Subramanian was born in Bhilai, Chhattisgarh in a Tamil family. He completed his schooling from M.G.M. Senior Secondary School, Sector-6, Bhilai. He is an alumnus of the Indian Institute of Technology Kanpur where he studied electrical engineering and holds a Master of Business Administration from IIM Calcutta, where he was awarded gold medal and placed in the Institute's Roll of Honor . [3] He received a Doctor of Philosophy (PhD) in financial economics from University of Chicago Booth School of Business. His PhD was completed under the supervision of Luigi Zingales and Raghuram Rajan. He was awarded an Ewing Marion Kauffman Foundation Dissertation Fellowship in 2005 for his doctoral research thesis. [4]

Career

Subramanian has worked in expert committees for Securities and Exchange Board of India and the Reserve Bank of India, being a part of major economic and corporate reforms in India. He was Member & Director of Research, P J Nayak Committee on Governance of Bank Boards formed by RBI, and was also a member of Uday Kotak Committee on Corporate Governance in SEBI. He has worked with JPMorgan Chase, ICICI Bank and Tata Consultancy Services.

He was a member of board of directors in Bandhan Bank. He was also a member of board of directors in the National Institute of Bank Management and the Reserve Bank of India Academy. [5]

Academic career

Subramanian taught at the Goizueta Business School at Emory University in the United States from 2005 to 2010. [6] [7] He is a member of American Finance Association.

In 2009, he visited the Indian School of Business as a visiting scholar. He subsequently joined the ISB as an assistant professor. At ISB, he served as an associate professor and later professor. He also served as the executive director of the Centre for Analytical Finance at ISB. He was awarded "Professor of the Year" by ISB for courses that he taught for the Class of 2019. [8] [9]

Chief economic advisor

As the Chief Economic Advisor (CEA), Subramanian authored Economic Surveys on Ethical Wealth Creation for a prosperous India (2019–20), the Strategic Blueprint for India to become a US$ 5 trillion economy (2018–19), and the post-COVID-19 economy using public capital expenditures in infrastructure and healthcare to further counter-cyclical fiscal policy (2020–21). His ideas of the use of Behavioural Economics and Thalinomics captured the public imagination. [10]

Subramanian was inducted into the Fifteenth Finance Commission's advisory council in May 2019. [11] [12]

In articles published in The Times of India and Livemint titled, "Will Black Be Back? Why demonetisation will be revolutionary in India’s fight against corruption", and "Demonetisation: Are the poor really suffering?", respectively, Subramanian supported the Government of India's banknote demonetisation policy in 2016. [13] [14] [6]

In August 2022, Subramanian was appointed the executive director for India at the International Monetary Fund, for a period of three years. He took over from Surjit Bhalla on 1 November 2022. [15] [16] [17]

Subramanian has been conferred the Distinguished Alumnus award by his alma maters IIT Kanpur and IIM Calcutta. [18]

Related Research Articles

The Economic Survey of India is an annual document of the Ministry of Finance, Government of India. The Department of Economic Affairs, Ministry of Finance presents the Survey in the Parliament every year, just before the Union Budget. It is prepared under the guidance of the Chief Economic Adviser of India. This document is presented to both Houses of Parliament during the Budget Session.

<span class="mw-page-title-main">Raghuram Rajan</span> Indian economist and former governor of Reserve Bank of India

Raghuram Govind Rajan is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund. From September 2013 through September 2016 he was the 23rd Governor of the Reserve Bank of India. In 2015, during his tenure at the RBI, he became the Vice-Chairman of the Bank for International Settlements.

<span class="mw-page-title-main">K. V. Kamath</span> Indian banker

Kundapur Vaman Kamath is the current Independent Director and Non-Executive Chairman of Jio Financial Services and the former chief of the New Development Bank of BRICS countries, previously he has also served as the Chairman of Infosys Limited, the second-largest Indian IT services company, and as the Non-Executive Chairman of ICICI Bank. Kamath also served as ICICI Bank's founder and Managing Director and CEO from 1 May 1996 until his retirement from executive responsibilities on 30 April 2009.

The Indian Economic Service is an inter-ministerial and inter-departmental central civil service under Group A of the executive branch of the Government of India. The unique aspect of the service is that the cadre posts are spread across various departments and ministries of central government numbering more than 55. It is a highly specialised and professional service within the Government of India catering to economic analysis and policy advice.

<span class="mw-page-title-main">Ashish Chauhan</span> Indian business executive and administrator

Ashishkumar Chauhan is an Indian business executive and administrator who is currently the Managing Director (MD) and Chief Executive Officer (CEO) of the National Stock Exchange of India (NSE). A technocrat from IIT Bombay and IIM Calcutta, Ashish was a founding member of NSE. Prior to joining NSE back in 2022, he was the Managing Director and Chief Executive Officer of the Bombay Stock Exchange (BSE) for 10 years. Ashish is a member of the University Grants Commission and is the Chancellor of University of Allahabad. He also serves as a member of Governing Council of one of the premier B-Schools in India - IIM Calcutta. Ashish is best known as the father of modern financial derivatives in India, and is considered one of the foremost experts in financial market policies, Information technology, organized retail, telecommunications, cricket and Indian social issues. Ashish has been awarded Lifetime Achievement Award by Global Custodian

<span class="mw-page-title-main">Gita Gopinath</span> Indian-American economist (born 1971)

Gita Gopinath is an Indian-American economist who has served as the first deputy managing director of the International Monetary Fund (IMF), since 21 January 2022. She had previously served as chief economist of the IMF between 2019 and 2022.

<span class="mw-page-title-main">Arvind Virmani</span>

Arvind Virmani is an Indian economist and full time Member of NITI Aayog. He was appointed India's representative to the International Monetary Fund in 2009. Prior to that, he was the Chief Economic Advisor to the Government of India.

<span class="mw-page-title-main">Arvind Subramanian</span> Indian economist and political adviser

Arvind Subramanian is an Indian economist and the former Chief Economic Advisor to the Government of India, having served from 16 October 2014 to 20 June 2018. Subramanian is currently a Senior Fellow at the Watson Institute for International and Public Affairs at Brown University. He previously served as Professor of Economics at Ashoka University and a Senior Fellow at the Peterson Institute for International Economics and Center for Global Development.

The Chief Economic Adviser to the Government of India (CEA) advises the government on economic matters and is responsible for the preparation of the Economic survey of India tabled in Parliament before the Union budget of India is presented. The CEA holds the rank of a Secretary to the Government of India.

<span class="mw-page-title-main">Urjit Patel</span> Indian economist

Urjit Patel is a Kenyan-born Indian economist, who formerly served as the 24th Governor of the Reserve Bank of India and also Deputy Governor of Reserve Bank of India, looking after monetary policy, economic research, financial markets, statistics and information management. He resigned from his post on 10 December 2018, being the first RBI governor to state personal reasons as a driving factor for resigning.

<span class="mw-page-title-main">Hasmukh Adhia</span> Indian banker and a civil servant

Hasmukh Adhia, IAS is an Indian banker and a retired civil servant. He is one of the key persons behind the architecture and roll-out of the Goods and Services Tax & Demonetization scheme announced in 2016. He is an Indian Administrative Service (IAS) officer of the 1981 Gujarat cadre batch who served as Finance Secretary and Revenue Secretary of State. He previously served in several capacities for the Indian and Gujarat governments, including as Financial Services Secretary. He is the present Chairman of the boards of State public sector undertakings Gujarat Alkalies and Chemicals Limited (GACL) (GACL) and Gujarat Mineral Development Corporation Ltd(GMDC), GIFT City, standing committee of Pandit Deendayal Energy University, Gandhinagar and former Non-Executive Chairman of Bank of Baroda.A week after the government nominated him chairman of state-owned Bank of Baroda where he served till 29 February 2024 ,he was appointed as the Chancellor of Central University of Gujarat. Also, he serves as Chief Advisor to Gujarat Chief Minister in CMO from 2022 onwards.

<span class="mw-page-title-main">Shaktikanta Das</span> Governor of the Reserve Bank of India (RBI)

Shaktikanta Das is serving as the current & 25th governor of the Reserve Bank of India (RBI). He was earlier a member of the Fifteenth Finance Commission and India's Sherpa to the G20. Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre.

<span class="mw-page-title-main">Fifteenth Finance Commission</span>

The Fifteenth Finance Commission is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since March 2014, with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh. In addition, the commission also has a part-time member in Ramesh Chand.

<span class="mw-page-title-main">Ashok Lahiri</span> Indian politician

Ashok Kumar Lahiri is an Indian economist and a member of the West Bengal Legislative Assembly from Balurghat. He is currently serving as a member of the Fifteenth Finance Commission. Lahiri previously served as 12th Chief Economic Adviser to the Government of India, reader at the Delhi School of Economics, chairman of Bandhan Bank, executive director at the Asian Development Bank and director of the National Institute of Public Finance and Policy and had stints with the World Bank and the International Monetary Fund, as a consultant and senior economist respectively. He is a member of the Bharatiya Janata Party.

Venkatramanan Anantha Nageswaran is an Indian economist and the 18th Chief Economic Advisor to the Government of India. He served as the global chief investment officer at Bank Julius Baer in Switzerland after serving as its Head of Research for Asia. Prior to this, he worked for Credit Suisse in Switzerland and Singapore, and for the Union Bank of Switzerland. He has served as the Dean of IFMR Graduate School of Business, as a professor for graduate students at the Singapore Management University, and at the Indian Institute of Management Bangalore & Indian Institute of Management Indore.

References

  1. ↑ Choudhary, Shrimi (8 October 2021). "CEA Subramanian to leave finance ministry, will return to academia". Business Standard India.
  2. ↑ "Prof K Subramanian". www.iitk.ac.in. Retrieved 14 June 2022.
  3. ↑ "Annual Convocation 2021 | IIM Calcutta". www.iimcal.ac.in. Retrieved 14 June 2022.
  4. ↑ "Kauffman Dissertation Fellows". www.kauffman.org. Archived from the original on 9 December 2018. Retrieved 7 December 2018.
  5. ↑ "ISB professor Krishnamurthy Subramanian appointed as new Chief Economic Adviser". The Indian Express. 7 December 2018. Archived from the original on 7 December 2018. Retrieved 7 December 2018.
  6. 1 2 "Krishnamurthy Subramanian Appointed As The Next Chief Economic Adviser". BloombergQuint. 7 December 2018. Archived from the original on 9 December 2018. Retrieved 7 December 2018.
  7. ↑ "Govt appoints Krishnamurthy Subramanian as Chief Economic Adviser for 3 years". Moneycontrol. 7 December 2018. Archived from the original on 7 December 2018. Retrieved 7 December 2018.
  8. ↑ "Subramanian Krishnamurthy". www.isb.edu. Retrieved 5 February 2023.
  9. ↑ "ISB awards "Professor of the Year" to Krishnamurthy Subramanian". thehindubusinessline.com. 6 April 2019.
  10. ↑ "Chief Economic Advisor to Govt. of India - Dr. K V Subramanian". www.greatlakes.edu.in. Retrieved 14 June 2022.
  11. ↑ "Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory Council of 15th Finance Commission". Business Standard . Business Standard Ltd. Asian News International. 3 May 2019. OCLC   496280002. Archived from the original on 1 September 2020. Retrieved 10 May 2019.
  12. ↑ "CEA K Subramanian joins Finance panel's advisory council". The Quint . New Delhi. Indo-Asian News Service. 3 May 2019. Archived from the original on 1 September 2020. Retrieved 10 May 2019.
  13. ↑ "Will Black Be Back? Why demonetisation will be revolutionary in India's fight against corruption". Times of India Blog. 11 November 2016. Archived from the original on 10 December 2018. Retrieved 7 December 2018.
  14. ↑ Subramanian, Krishnamurthy (23 November 2016). "Demonetisation: Are the poor really suffering?". Livemint. Archived from the original on 9 December 2018. Retrieved 7 December 2018.
  15. ↑ Srivats, K. R. (25 August 2022). "Former CEA KV Subramanian appointed as Executive Director at IMF". www.thehindubusinessline.com. Retrieved 5 February 2023.
  16. ↑ "Govt appoints former CEA K Subramanian as Executive Director for India at IMF". livemint.com. 25 August 2022. Retrieved 5 February 2023.
  17. ↑ "Former CEA KV Subramanian appointed as executive director for India at IMF". Business Today. 25 August 2022. Retrieved 5 February 2023.
  18. ↑ Twitter https://twitter.com/iitkanpur/status/1185183350354432002 . Retrieved 17 June 2022.{{cite web}}: Missing or empty |title= (help)
Government offices
Preceded by Chief Economic Adviser of India
2018–2021		Succeeded by
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.