Tag Archives: economic reforms

Nation, People

Government Extends Tenure of Chief Economic Adviser Anantha Nageswaran Until March 2027

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The Government of India has extended the tenure of Chief Economic Adviser (CEA) V. Anantha Nageswaran for an additional two years, ensuring his service until March 31, 2027. The decision was approved by the Appointments Committee of the Cabinet (ACC), which is chaired by Prime Minister Narendra Modi. According to an official order, Mr. Nageswaran’s tenure has been extended on a contract basis until the mentioned date or until further notice.

Continuity in Economic Advisory Leadership

Mr. Nageswaran initially assumed office as Chief Economic Adviser on January 28, 2022, for a three-year term. His extension comes at a crucial time when India’s economic landscape is being closely monitored amid global uncertainties and domestic economic shifts.

The CEA’s role is pivotal in formulating economic policies, providing recommendations to the government, and drafting the Economic Survey, which is presented in Parliament before the Union Budget. His continued tenure ensures policy continuity, especially at a time when India’s economy faces both growth prospects and structural challenges.

Economic Growth Outlook and Policy Implications

The extension of Mr. Nageswaran’s term follows the release of the Economic Survey 2024-25, which projected India’s GDP growth for the next financial year at 6.3-6.8%. This projection underscores a measured optimism regarding economic expansion despite global uncertainties and domestic economic moderation. The government’s advance estimates suggest the Indian economy is likely to grow at 6.4% in the current financial year.

With his expertise in macroeconomic policy and financial markets, Mr. Nageswaran is expected to continue playing a crucial role in shaping economic policies that bolster investment, employment, and fiscal management. His insights will be significant in guiding India’s economic trajectory as it navigates global inflationary pressures, trade realignments, and evolving financial regulations.

Academic and Professional Background

Before taking up the CEA role, Mr. Nageswaran had an illustrious career spanning academia, research, and financial markets. He has previously worked with Credit Suisse Group AG and Julius Baer Group and has been actively involved in policy advisory roles. Between 2019 and 2021, he served as a part-time member of the Economic Advisory Council to the Prime Minister.

Apart from his corporate experience, he has contributed significantly to academia, teaching at prestigious business schools and institutes of management in India and Singapore. He holds an MBA from the Indian Institute of Management, Ahmedabad, and earned a PhD in Finance from the University of Massachusetts in 1994, specializing in the empirical behavior of exchange rates.

Contributions to Economic Research and Policy Initiatives

Mr. Nageswaran has been instrumental in shaping research-driven policy initiatives. He co-founded the Takshashila Institution, an independent research center focusing on public policy. Additionally, he played a key role in launching India’s first impact investment fund with the Aavishkaar Group in 2001, aimed at fostering social entrepreneurship and sustainable development.

His leadership at the IFMR Graduate School of Business as Dean and his role as a Distinguished Visiting Professor of Economics at Krea University further highlight his academic contributions to economic policymaking.

Challenges and Opportunities Ahead

As CEA, Mr. Nageswaran is expected to address several economic challenges, including managing inflation, enhancing fiscal discipline, promoting digital and green economy initiatives, and strengthening India’s financial markets. His tenure extension aligns with the government’s commitment to ensuring stability in economic policymaking at a time when India is positioning itself as a global economic powerhouse.

With significant economic policy measures anticipated in the coming years, Mr. Nageswaran’s extended tenure will allow him to oversee critical economic reforms, structural adjustments, and fiscal strategies aimed at sustaining India’s growth momentum.

The decision to extend his tenure underscores the government’s confidence in his ability to navigate complex economic landscapes and provide strategic guidance that aligns with India’s long-term economic vision.

Politics, Nation

Prime Minister Modi Highlights Absence of Foreign Interference Ahead of 2025 Budget Session

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As the Indian Parliament gears up for the 2025 Budget Session, Prime Minister Narendra Modi addressed the media, emphasizing a notable shift in the prelude to this year’s proceedings. For the first time since 2014, there have been no external attempts to create disturbances in India before the commencement of a session.

A Decade-Long Challenge

Historically, India’s parliamentary sessions, especially the Budget sessions, have been marred by external interferences. These disruptions often aimed to ignite controversies or unrest, diverting attention from crucial legislative discussions. Prime Minister Modi, in his address, remarked, “This is the first session without any foreign meddling.” He further elaborated, “Since 2014, this is the first Parliament session which saw no ‘videshi chingari’ (foreign interference) in our affairs, in which no foreign forces tried to ignite a fire.”

While the Prime Minister’s comments highlighted the absence of foreign interference, they also carried an implicit critique of domestic entities. Modi pointed out that such attempts were common before every Budget session and noted, “I had noticed this before every Budget session. And many in our country leave no stone unturned to fan these sparks.” This observation underscores the internal challenges faced by the government in maintaining focus amidst external provocations.

Anticipation for the 2025 Budget Session

The 2025 Budget Session is poised to be a landmark in India’s legislative history. Prime Minister Modi emphasized the significance of the upcoming discussions, stating, “In this session, as always, many historic bills will be discussed in the House and after extensive brainstorming, they will become laws that will strengthen the nation.” He highlighted the government’s commitment to re-establishing the pride of women power, ensuring that every woman gets a respectable life and equal rights without any discrimination of caste and creed. “Many important decisions will be taken in this session in this direction,” he asserted.

Reiterating his government’s focus, Modi stated that the administration has been working in a “mission mode” for comprehensive development, with innovation, inclusion, and investment shaping its economic agenda. He emphasized the importance of women’s empowerment, stating that key decisions would be taken to ensure equal rights and eliminate any sectarian or faith-based discrimination.

Expressing confidence in parliamentary proceedings, the Prime Minister urged all MPs, especially first-time legislators, to contribute meaningfully to the vision of ‘Viksit Bharat’ during the session. He emphasized the importance of active participation and collaboration in shaping the nation’s future.

The absence of foreign interference ahead of the 2025 Budget Session marks a significant milestone for India’s parliamentary proceedings. As the nation prepares for extensive legislative discussions, the government’s focus on innovation, inclusion, and investment underscores its commitment to comprehensive development. The emphasis on women’s empowerment and equal rights further highlights the progressive agenda set for this session. With active participation from all parliamentarians, the 2025 Budget Session is poised to usher in transformative changes for India.