The Ministry of Finance on Thursday categorically denied the rumours of the resignation of Chief Economic Advisor Arvind Subramanian, whose term comes to an end in October.
ABP News had reported that Mr. Subramanian was considering resigning before his term ends. He took over as CEA on October 16, 2014 for a term of three years. An extension would mean his term would end in October 2019.
Mr. Subramanian’s term as CEA has been marked by dynamic suggestions and analysis to do with the economy — including coining of the term ‘JAM trinity’ (for Jan Dhan, Aadhaar, and Mobile) and elaborating on its benefits.
The CEA has also mooted the idea of a ‘bad bank’ to deal with the persistent problem of non-performing assets (NPAs) afflicting the balance sheets of banks and corporates, and of a Universal Basic Income.