The hunt for a new chief economic advisor has started in the earnest, after Arvind Subramanian resigned last month to return to the US. The finance ministry has invited applications for the post.
The candidate must have a master’s degree in economics or finance from a recognised university or institution. The CEA shall receive fixed pay of Rs 80,000. The maximum age limit for appointment by deputation (including short-term contract/contract) should not be more than 56 years, as on the closing date of the receipt of applications.
Officials of the central and state governments, public sector enterprises, public sector banks or the Reserve Bank of India (RBI) as well as candidates from recognised universities or research institutions can apply for the post, as per an official circular. Subramanian’s last day in office is July 31.
The key responsibilities of the CEA include providing policy inputs on industrial development and foreign trade, conducting analysis of trends in industrial production and releasing statistical information on key economic indicators.
The Economic Survey of India is also compiled and released by the CEA. Subramanian’s predecessor, Raghuram Rajan, had held the post for just over a year before he was named the RBI governor.