Arvind Subramanian gets 1-year extension

The government announced a year's extension for chief economic adviser Arvind Subramanian, whose three-year term was due to end on October 16. The announcement by finance minister Arun Jaitley ended speculation about the return of the economist to Peterson Institute, a US-based thinktank. Jaitley said he had cleared the proposal for the extension.

There were reports almost six months ago announcing an extended term for the trade economist. The St Stephen's alumnus was appointed by the Modi government in 2014. Subramanian had agreed to a three-year term and wanted to return to his assignment in the US as he also has family commitments, but the government convinced him to stay back for some more time.

While he has been providing critical inputs on the economy, including to the PM, Subramanian was closely associated with designing the goods and services tax.

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