ISB’s Krishnamurthy Subramanian is new chief economic adviser
NEW DELHI : The government on Friday appointed Krishnamurthy Subramanian, associate professor and executive director (centre for analytical finance) of Indian School of Business, Hyderabad, as the new chief economic adviser to the finance minister for a period of three years. The post of the chief economic adivser had been lying vacant since Arvind Subramanaian left the finance ministry after a four-year stint earlier 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.
Krishnamurthy Subramanian’s appointment comes a couple of months ahead of the interim budget, where the Narendra Modi-led National Democratic Alliance (NDA) is expected to outline its vision for further reforms and inclusive growth. Though the government has resisted populism and stuck to its reforms credentials in the past four years, its final budget before 2019 Lok Sabha elections is expected to have announcements that could appeal to different sections of the society.
He serves as a member of market regulator Securities and Exchange Board of India’s Standing Committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research.
He also serves on the boards of Bandhan Bank, the National Institute of Bank Management and the RBI Academy.Before beginning his academic career, Krishnamurthy Subramanian worked as a consultant with JPMorgan Chase in New York. He also served in a management role in the elite derivatives research group at ICICI Ltd.
“The interim budget is always called the interim budget, but the contents could go beyond it if necessary,” said a person privy to discussions in the government.Subramanian is a PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus and is seen as one of the world’s leading experts in banking, corporate governance and economic policy, the ISB Hyderabad website says. His MBA and PhD in Financial Economics was under the advice of Professor Luigi Zingales and Professor Raghuram Rajan.
He serves as a member of Sebi’s standing committees on alternative investment policy, primary markets, secondary markets and research. He is also on the boards of Bandhan Bank Ltd, the National Institute of Bank Management, and the RBI Academy.Before joining ISB Hyderabad, Subramanian served on the finance faculty at Goizueta Business School at Emory University in the US. He has worked as a consultant with JPMorgan Chase Co. in New York and was in a management role in the elite derivatives research group at ICICI Ltd. (With Agency Inputs ).
