Economic Survey: Meet the man guiding us through India’s ups and downs

Krishnamurthy Subramanian came to limelight in December 2018 when he was chosen to fill the post of CEA, which was vacant for nearly six months, after former CEA Arvind Subramanian quit. -The Federal
Krishnamurthy Subramanian came to limelight in December 2018 when he was chosen to fill the post of CEA, which was vacant for nearly six months, after former CEA Arvind Subramanian quit. Photo: Facebook

Chief Economic Advisor (CEA) Krishnamurthy Subramanian will present the Economic Survey of the re-elected Modi government in Parliament on Thursday (July 4, 2019).

“Looking forward with excitement to table my first – and the new government’s first – Economic Survey in Parliament on Thursday. #EcoSurvey2019” he tweeted on Tuesday (July 2).

The Economic Survey is an annual document with an outlook of developments in the economy, along with a glimpse into the country’s economic hits and misses. It is prepared by advisers to the Finance Minister and tabled in Parliament a day before the Union Budget. This will be Subramanian’s first Economic Survey that will be tabled under the current government.

Krishnamurthy Subramanian came to limelight in December 2018 when he was chosen to fill the post of CEA, which was vacant for nearly six months, after former CEA Arvind Subramanian quit.

An IIT Kanpur and IIM Calcutta alumnus, he contributed in preparing the interim budget that was presented in February 1, 2019, before the general elections. Subramanian is a professor at Indian School of Business (ISB) and has recently been appointed part-time member of the Insolvency and Bankruptcy Board.

Banking expert

Subramanian, who is considered an expert in banking and corporate finance, earned an MBA and PhD in financial economics from the Chicago Booth School of Business under the mentorship of former RBI governor Raghuram Rajan.

He has played an active role in drafting banking policies. He served as member of the RBI’s PJ Nayak committee that was constituted to recommend policies on the governance of public sector banks (PSBs). In 2015, he co-authored a paper with former deputy governor of the RBI Viral Acharya on the state of India’s PSBs. Over the years, he has served on the boards of Bandhan Bank and the National Institute of Bank Management.

Demonetisation backer

In November 2016, when a political battle started over the demonetisation of ₹500 and ₹1,000, Subramanian was among several economists who supported the move. He called demonetisation a revolutionary move against corruption.