In a significant move, the government announced on Thursday the extension of Chief Economic Adviser (CEA) V Anantha Nageswaran’s tenure for an additional two years, extending his term until March 2027.
The decision was approved by the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi.
Mr. Nageswaran, who took office on January 28, 2022, is entrusted with advising the government on economic policies and drafting the Economic Survey, which is presented to Parliament a day before the Union Budget. Before this role, he was an academic and held executive positions with Credit Suisse Group AG and Julius Baer Group, succeeding K V Subramanian.
The extension coincides with the Economic Survey 2024-25, which projects a growth rate of 6.3-6.8 per cent for the next financial year. The government’s advanced estimates indicate the economy is expected to grow at 6.4 per cent in the current fiscal year.
Before assuming the CEA position, Mr. Nageswaran was an accomplished author, teacher, and consultant. He also served as a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021. He holds an MBA from the Indian Institute of Management, Ahmedabad, and a Ph.D. in Finance from the University of Massachusetts.
Mr Nageswaran’s academic career includes being the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University. He co-founded the Takshashila Institution, an independent centre for research and education in public policy, and helped launch the first impact investment fund of the Aavishkaar Group in 2001.
