Arvind Panagariya to return to Academics | Resigns from Niti Aayog

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Panagariya
Panagariya

Indian-American economist and Niti Aayog Vice-Chairman Arvind Panagariya resigned on Tuesday from his post. Panagariya, however, said he would leave the Government think-tank on August 31 and return to academic circles at Columbia University.

Panagariya’s exit move comes at a time when the Narendra Modi-led Government at the Centre is in the middle path of executing its economic turnaround plans in which he was given one of the most prominent positions in the Government’s policy making machinery. During his two-and-half-year stint at Niti Aayog, the economist was in absolute agreement with the Government’s decisions on most economic-policy issues, including the controversial note ban plan and others.

The 64-year old Panagariya, professor of Indian Political Economy at Columbia University, is a Padma Bhushan awardee and has worked his way through prestigious international organisations to be known as one of the top economists in the world.

Panagariya joined as the first Vice-Chairman of Niti Aayog in January 2015, is the second high profile academic-economist after former RBI Governor Raghuram Rajan to quit a top job in India to return to the teaching profession in the US.

Revealing his exit move, Panagariya told reporters that the university was not giving him further extension and he would be leaving Niti Aayog on August 31. “About two months ago I had expressed my desire to the Prime Minister to be relieved by August 31,” he said.

Panagariya said he had to make a choice as it would not be possible for him to get the job he had been doing at Columbia University. At US universities one can teach as long as one’s health permits. “If I were at 40, then I would have got a job anywhere, the kind of job I have at Columbia is almost impossible to get at this age,” he added.

Under similar circumstances, Rajan had quit the central bank after a 3-year term last year to rejoin the Chicago University. Panagariya, a close associate of noted trade economist Jagdish Bhagwati, was honoured with Padma Bhushan, the third highest civilian honours India bestows in any field, in March 2012.

He holds a PhD degree from the Princeton University and had also worked with the Asian Development Bank, World Bank, IMF and UNCTAD in various capacities. On his tenure at the Niti Aayog, Panagariya said although it was tough initially, once he got into the groove, it had been a smooth sailing.

Panagariya said he took comfort from the fact that during his tenure a new institution has taken roots and would continue to steer the economy to achieve higher growth trajectory.

Among other achievements, he said, the Niti Aayog has been able to push privatisation, especially of sick units and Air India, prepare the ground for reforms in several sectors including medical and higher education, and develop a good working relationship with States.

“I have always shared good relations with Reserve Bank, Finance Ministry and Prime Minister’s Office,” he added.

He further said although he wanted to complete Seven-Year Strategy Paper and 15-year Vision Document, the task would now have to be done by his successor. These documents, he added, were 80-85 per cent ready.

On his successor, Panagariya said he has no one in mind nor was he going to suggest any name to the Government. Panagariya also said that he would be writing a sequel to his ‘India: The Emerging Giant’ which was published in 2008.

IndianBureaucracy.com wishes Shri Panagariya the very best.

Source: Daily Pioneer

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