V Anantha Nageswaran’s term as Chief Economic Advisor (CEA) Extended

Context: The government has extended the term of chief economic advisor (CEA) V Anantha Nageswaran by two years till March 2027.

About Chief Economic Advisor (CEA) of India

• CEA is a key government official responsible for providing economic analysis and policy advice to the Government of India, particularly to the Ministry of Finance.
• He holds the rank of Secretary to the Government of India.
• He is the ex-officio cadre-controlling authority of the Indian Economic Service.
• CEA is head of the Economic Division of the Department of Economic Affairs, Union Ministry of Finance.

Main Functions

• Provides expert economic advice to the Finance Minister and the Government on key issues such as Inflation, GDP growth, Employment trends, etc.
• Prepares and presents the Economic Survey of India, which is released before the Union Budget.
  • This document provides a detailed economic analysis and forecasts for policy decisions.

Roles and Responsibilities

1. Economic Advisory – Provides insights on economic trends, growth strategies, and policy measures.
2. Budget & Fiscal Policy – Contributes to the formulation of the Union Budget and advises on taxation, public expenditure, and fiscal consolidation.
3. Economic Surveys – Prepares the Economic Survey of India, a crucial annual document analyzing the country’s economic performance and future outlook.
4. Policy Formulation – Advises on structural reforms, trade policies, and financial sector regulations.
5. Liaison with Global Institutions – Engages with international financial organizations like the IMF, World Bank, and WTO.

Appointment & Tenure

• The CEA is appointed by the Government of India and usually serves a term of three years, though it may vary.
• The position is not a Cabinet rank, but the CEA plays a significant advisory role in policymaking.

Recent Chief Economic Advisors

• Dr. V. Anantha Nageswaran (Current CEA, since 2022)
• Dr. Krishnamurthy Subramanian (2018–2021)
• Dr. Arvind Subramanian (2014–2018)

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