WION's exclusive interview with Dr. V Anantha Nageswaran, the Chief Economic Advisor to the Government of India. What are the risks to the robust growth outlook for India, which the government says will be a developed economy by 2047? Watch to learn more about the thought process behind the government's focus on women, farmers, the poor, and the youth. Watch the candid conversation with the Chief Economic Advisor to the Government of India, who breaks down India's fiscal discipline plan and calls the path "realistic", not "ambitious".

Chief Economic Advisor on India's interim budget

WION's exclusive interview with Dr. V Anantha Nageswaran

In this video, watch what Indian economist & Chief Economic Advisor Krishnamurthy Subramanian says on global stock market historic fall!

Watch what Chief Economic Advisor says on global stock market historic fall!

Former Chief Economic Advisor to the government, Arvind Subramanian, on Sunday said that the GST could have done more on the lines of what he had recommended initially.

His comments came during an event in Delhi. He also added that GST was "certainly not a failure."

"GST was certainly not a failure but it could have more along the lines of what I had initially recommended," he stated.

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<a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a>: "GST was certainly not a failure but it could have more along the lines of what I had initially recommended," says Former CEA Arvind Subramanian in Delhi <a href="https://t.co/o6qW6QhhOj">pic.twitter.com/o6qW6QhhOj</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1071812559907500032?ref_src=twsrc%5Etfw">December 9, 2018</a></blockquote>
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Last month, the former Chief Economic Adviser had called demonetisation a "<a href="http://www.wionews.com/india-news/demonetisation-a-massive-draconian-monetary-shock-former-chief-economic-adviser-arvind-subramanian-180150">massive, draconian, monetary shock</a>" that dragged India's GDP growth rate down.&nbsp;

Subramanian is succeeded by <a href="http://www.wionews.com/business-economy/isb-professor-krishnamurthy-subramanian-appointed-as-chief-economic-adviser-182205">Krishnamurthy Subramanian</a>, a professor from the Indian School of Business.

Krishnamurthy Subramanian took charge as his predecessor, Arvind Subramanian, abruptly left the country's finance ministry in June, news agency Reuters reported.&nbsp;

Former Chief Economic Advisor to the government, Arvind Subramanian, on Sunday said that the GST could have done more on the lines of what he had recommended initially.

Former Chief Economic Advisor to the government, Arvind Subramanian, on Sunday said that the GST could have done more on the lines of what he had recommended initially. His comments came during an event in Delhi. He also added that GST was "certainly not a failure." "GST was certainly not a failure but it could have more along the lines of what I had initially recommended," he stated. #WATCH: "GST was certainly not a failure but it could have more along the lines of what I had initially recommended," says Former CEA Arvind Subramanian in Delhi pic.twitter.com/o6qW6QhhOj — ANI (@ANI) December 9, 2018 × Last month, the former Chief Economic Adviser had called demonetisation a "massive, draconian, monetary shock" that dragged India's GDP growth rate down. Subramanian is succeeded by Krishnamurthy Subramanian, a professor from the Indian School of Business. Krishnamurthy Subramanian took charge as his predecessor, Arvind Subramanian, abruptly left the country's finance ministry in June, news agency Reuters reported.

GST could have done more on what I had initially recommended: Former chief economic advisor

Krishnamurthy Subramanian, a professor from the Indian School of Business, has been appointed as the new chief economic adviser.

Krishnamurthy Subramanian took charge as his predecessor, Arvind Subramanian, abruptly left the country's finance ministry in June, news agency Reuters reported.&nbsp;

As per Krishnamurthy's profile on ISB's website, he serves as Associate Professor &amp; Executive Director, Centre For Analytical Finance and Executive Director, Centre for Analytical Finance.&nbsp;

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Dr. Krishnamurthy Subramanian appointed as the new Chief Economic Advisor (CEA) for three years. <a href="https://t.co/3sLQ97gh8v">pic.twitter.com/3sLQ97gh8v</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1070981755836993536?ref_src=twsrc%5Etfw">December 7, 2018</a></blockquote>
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"His services on the expert committees on Corporate Governance for the Securities and Exchange Board of India (SEBI) and on Governance of Banks for The Reserve Bank of India (RBI) have established him as one of the chief architects of corporate governance and banking reforms in India. He serves as a member of SEBI’s Standing Committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research," as mentioned on the website.&nbsp;

He has a PhD from Chicago Booth School of Business and is a top-ranking IIT-IIM alumnus. He is one of the world’s leading experts in banking, corporate governance and economic policy.&nbsp;&nbsp; &nbsp;

Subramanian worked as a consultant with JPMorgan Chase in New York before starting his career in academics.&nbsp;

Krishnamurthy Subramanian, a professor from the Indian School of Business, has been appointed as the new chief economic adviser. Krishnamurthy Subramanian took charge as his predecessor, Arvind Subramanian, abruptly left the country's finance ministry in June, news agency Reuters reported.

Krishnamurthy Subramanian, a professor from the Indian School of Business, has been appointed as the new chief economic adviser. Krishnamurthy Subramanian took charge as his predecessor, Arvind Subramanian, abruptly left the country's finance ministry in June, news agency Reuters reported. As per Krishnamurthy's profile on ISB's website, he serves as Associate Professor & Executive Director, Centre For Analytical Finance and Executive Director, Centre for Analytical Finance. Dr. Krishnamurthy Subramanian appointed as the new Chief Economic Advisor (CEA) for three years. pic.twitter.com/3sLQ97gh8v — ANI (@ANI) December 7, 2018 × "His services on the expert committees on Corporate Governance for the Securities and Exchange Board of India (SEBI) and on Governance of Banks for The Reserve Bank of India (RBI) have established him as one of the chief architects of corporate governance and banking reforms in India. He serves as a member of SEBI’s Standing Committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research," as mentioned on the website. He has a PhD from Chicago Booth School of Business and is a top-ranking IIT-IIM alumnus. He is one of the world’s leading experts in banking, corporate governance and economic policy. Subramanian worked as a consultant with JPMorgan Chase in New York before starting his career in academics.

Krishnamurthy Subramanian takes charge as chief economic adviser

US President Donald Trump on Wednesday tweeted that he will be making a decision soon on the appointment of new Chief Economic Advisor.&nbsp;

&#39;&#39;Will be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job - will choose wisely!,&#39;&#39; Trump tweeted.&nbsp;

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Will be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job - will choose wisely!
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/971186041171439616?ref_src=twsrc%5Etfw">March 7, 2018</a></blockquote>
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US President&#39;s top economic adviser, Gary Cohn, said on Tuesday he was resigning, a decision that came after he lost a fight within the White House over plans to impose hefty steel and aluminum tariffs.

White House officials said the dispute over tariffs contributed to Cohn&rsquo;s decision to resign but was not the only reason. One official said there had been several issues that led to the parting, but noted: &quot;His biggest mission was on the tax cut bill, which he got passed.&quot;

The White House said the timing of Cohn&#39;s departure from his role as director of the National Economic Council had not been finalized but was still a few weeks away. It was the latest in a series of high-profile departures from the White House.

Following the news of Cohn&#39;s resignation, the U.S. dollar weakened, while an exchange-traded fund tracking the broad market S&amp;P 500 dipped 1 percent. Prices for U.S. government debt barely budged.

Trump&#39;s announcement last week of his plans to impose the tariffs sent US stock prices tumbling and came after an intense debate within the White House between Cohn and other advocates of free trade, on one side, and protectionist advisers such as Peter Navarro on the other, according to White House officials.

Cohn, who served in the White House for a little more than a year, struck an early rapport with Trump and proved influential in the administration&#39;s decisions last April not to label China a currency manipulator and to renegotiate the North American Free Trade Agreement, instead of terminating it.

He also emerged as one of the main drivers of the tax overhaul package passed by Congress and signed into law by Trump late last year. The overhaul was Trump&#39;s first major legislative victory.

&quot;It has been an honor to serve my country and enact pro-growth economic policies to benefit the American people, in particular the passage of historic tax reform. I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future,&quot; Cohn said in a statement issued by the White House.

Cohn&#39;s relationship with Trump began to sour last summer, after Cohn disagreed with the president&#39;s tepid response to clashes between neo-Nazis and anti-racism protesters in Charlottesville, Virginia, sources close to Cohn said. 
&nbsp;

US President's top economic adviser, Gary Cohn, said on Tuesday he was resigning, a decision that came after he lost a fight within the White House over plans to impose hefty steel and aluminum tariffs.

US President Donald Trump on Wednesday tweeted that he will be making a decision soon on the appointment of new Chief Economic Advisor. ''Will be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job - will choose wisely!,'' Trump tweeted. Will be making a decision soon on the appointment of new Chief Economic Advisor. Many people wanting the job - will choose wisely! — Donald J. Trump (@realDonaldTrump) March 7, 2018 × US President's top economic adviser, Gary Cohn, said on Tuesday he was resigning, a decision that came after he lost a fight within the White House over plans to impose hefty steel and aluminum tariffs. White House officials said the dispute over tariffs contributed to Cohn’s decision to resign but was not the only reason. One official said there had been several issues that led to the parting, but noted: "His biggest mission was on the tax cut bill, which he got passed." The White House said the timing of Cohn's departure from his role as director of the National Economic Council had not been finalized but was still a few weeks away. It was the latest in a series of high-profile departures from the White House. Following the news of Cohn's resignation, the U.S. dollar weakened, while an exchange-traded fund tracking the broad market S&P 500 dipped 1 percent. Prices for U.S. government debt barely budged. Trump's announcement last week of his plans to impose the tariffs sent US stock prices tumbling and came after an intense debate within the White House between Cohn and other advocates of free trade, on one side, and protectionist advisers such as Peter Navarro on the other, according to White House officials. Cohn, who served in the White House for a little more than a year, struck an early rapport with Trump and proved influential in the administration's decisions last April not to label China a currency manipulator and to renegotiate the North American Free Trade Agreement, instead of terminating it. He also emerged as one of the main drivers of the tax overhaul package passed by Congress and signed into law by Trump late last year. The overhaul was Trump's first major legislative victory. "It has been an honor to serve my country and enact pro-growth economic policies to benefit the American people, in particular the passage of historic tax reform. I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future," Cohn said in a statement issued by the White House. Cohn's relationship with Trump began to sour last summer, after Cohn disagreed with the president's tepid response to clashes between neo-Nazis and anti-racism protesters in Charlottesville, Virginia, sources close to Cohn said.

'Will choose wisely!' says Trump after economic adviser Cohn's resignation

Chief Economic Adviser Arvind Subramanian, who has been given a one-year extension on his tenure, said that he is well aware of the challenges that the Indian economy is currently facing, adding, he is &quot;delighted to take on the challenge of the economy&quot;.

&quot;I am delighted to take on the challenge of the economy. We know what the challenges are. We have to drive growth, investment, and exports. The government is working on multiple fronts,&quot; Subramanian told ANI.

Subramanian, whose term was to end on October 16, will continue as the CEA for another year, the Ministry of Finance confirmed in a statement.

The principal author of the annual Economic Survey, Subramanian took over as the CEA on October 16, 2014, owing to a vacancy post the appointment of Raghuram Rajan as the Reserve Bank of India (RBI) governor in September 2013.

Named as one of the world`s top 100 global thinkers, Subramanian has various accolades to his kitty. Most importantly, he ideated the phrase &quot;JAM&quot;- Jan Dhan, Aadhaar, Mobile - which was introduced in 2015.&nbsp;

The &quot;JAM agenda&quot;&nbsp;aims at empowering the economic stature of the poor, and raise efficiency by reducing leakage and market distortions.He was ranked amongst the top one per cent of the world&#39;s academic economists in terms of citation of research, according to the widely used REPEC rankings.

An alumnus of St&nbsp;Stephens College, Delhi, Subramanian pursued his education at the Indian Institute of Management at Ahmedabad and the University of Oxford.&nbsp;

Chief Economic Adviser Arvind Subramanian has been given a one-year extension on his tenure

Chief Economic Adviser Arvind Subramanian, who has been given a one-year extension on his tenure, said that he is well aware of the challenges that the Indian economy is currently facing, adding, he is "delighted to take on the challenge of the economy". "I am delighted to take on the challenge of the economy. We know what the challenges are. We have to drive growth, investment, and exports. The government is working on multiple fronts," Subramanian told ANI. Subramanian, whose term was to end on October 16, will continue as the CEA for another year, the Ministry of Finance confirmed in a statement. The principal author of the annual Economic Survey, Subramanian took over as the CEA on October 16, 2014, owing to a vacancy post the appointment of Raghuram Rajan as the Reserve Bank of India (RBI) governor in September 2013. Named as one of the world`s top 100 global thinkers, Subramanian has various accolades to his kitty. Most importantly, he ideated the phrase "JAM"- Jan Dhan, Aadhaar, Mobile - which was introduced in 2015. The "JAM agenda" aims at empowering the economic stature of the poor, and raise efficiency by reducing leakage and market distortions.He was ranked amongst the top one per cent of the world's academic economists in terms of citation of research, according to the widely used REPEC rankings. An alumnus of St Stephens College, Delhi, Subramanian pursued his education at the Indian Institute of Management at Ahmedabad and the University of Oxford.

Delighted to take on challenge of economy: Arvind Subramanian on extension of tenure

India&#39;s central bank refused to&nbsp;divulge whether the views of the chief economic advisor and finance minister were taken into account before the sudden announcement of demonetisation of high-value currency notes by prime minister Narendra Modi on November 8.

The Reserve Bank of India (RBI), which was responding to a query under the Right to Information Act (RTI), said it could not answer the question since it did not come under the definition of &quot;information&quot; under the transparency law.

The applicant wanted to know whether the &quot;views of Chief Economic Advisor Arvind Subramaniam and Finance Minister Arun Jaitley were taken before announcement was made&quot;.

&quot;Query is in the nature of seeking opinion from Central Public Information Officers (CPIO) which is not defined as information as per Section 2(f) of the RTI Act,&quot; the RBI said in response to an RTI query.

Asked whether the information sought fell under &quot;seeking opinion&quot; from the CPIO, former Chief Information Commissioner A N Tiwari said, &quot;No. It does not. It is a fact sought by an RTI applicant. The CPIO cannot say an opinion has been sought from him.&quot;

&quot;How can it be called seeking an opinion? Whether someone was consulted or not is a matter of record. Had the question been that should views be taken then it would mean taking opinion,&quot; former Information Commissioner Shailesh Gandhi said, expressing surprise at the response of RBI Central Public Information Officer.

The definition of information covers &quot;any material in any form, including records, documents, memos, e-mails, opinions, advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form and information relating to any private body which can be accessed by a public authority under any other law for the time being in force&quot;.

The query was also sent to the Prime Minister&#39;s Office and the Finance Ministry but it remained unanswered even after 30 days of filing of the RTI application.

The applicant had also sought to know the designation and the names of officials who were consulted before scraping of old Rs 500 and Rs 1000 currency notes.

&quot;The information sought relates to sensitive matters pertaining to discontinuation/withdrawal of bank notes. The information is exempt from disclosure under Section 8(1)(a) and (g) of RTI Act,&quot; the RBI said.

The monetary policy regulator also did not disclose if the decision to demonetise currency notes worth Rs 20 lakh crore was opposed by any official or minister, saying the information sought is &quot;hypothetical&quot; in nature.

It also cited Section 8(1)(a) of the RTI Act to deny minutes of deliberations related to demonetisation.

Section 8(1)(a) of the RTI Act exempts from disclosure the information which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign state or lead to incitement of an offence.

Information sought under Section 8(1)(g) would endanger the life or physical safety of any person or identify the source of information or assistance given in confidence for law enforcement or security purposes.

The RBI has been denying information related to crucial aspects related to demonetisation citing exemption clauses. It recently refused to give reasons behind the demonetisation move.

Earlier, it had denied to Mumbai-based RTI Activist Anil Galgali information about distribution of currency to banks between November 9 and November 19 citing Section 8(1)(g) of the RTI Act.

The central bank did not give any reason as to how this section would apply in the case of information sought by Galgali.

RTI Activist Venkatesh Nayak, who was also denied deliberations on demonetisation by the RBI, said: &quot;While confidentiality prior to announcing the demonetisation decision is understandable, continued secrecy after its implementation is difficult to understand when people are facing problems due to shortage of cash.&quot;

He said the refusal to disclose the minutes of the board meeting where the decision was taken is &quot;perplexing&quot;. 
 
(PTI)

&nbsp;

&nbsp;

India's central bank said it could not answer the question, since it did not come under the definition of 'information'

India's central bank refused to divulge whether the views of the chief economic advisor and finance minister were taken into account before the sudden announcement of demonetisation of high-value currency notes by prime minister Narendra Modi on November 8. The Reserve Bank of India (RBI), which was responding to a query under the Right to Information Act (RTI), said it could not answer the question since it did not come under the definition of "information" under the transparency law. The applicant wanted to know whether the "views of Chief Economic Advisor Arvind Subramaniam and Finance Minister Arun Jaitley were taken before announcement was made". "Query is in the nature of seeking opinion from Central Public Information Officers (CPIO) which is not defined as information as per Section 2(f) of the RTI Act," the RBI said in response to an RTI query. Asked whether the information sought fell under "seeking opinion" from the CPIO, former Chief Information Commissioner A N Tiwari said, "No. It does not. It is a fact sought by an RTI applicant. The CPIO cannot say an opinion has been sought from him." "How can it be called seeking an opinion? Whether someone was consulted or not is a matter of record. Had the question been that should views be taken then it would mean taking opinion," former Information Commissioner Shailesh Gandhi said, expressing surprise at the response of RBI Central Public Information Officer. The definition of information covers "any material in any form, including records, documents, memos, e-mails, opinions, advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form and information relating to any private body which can be accessed by a public authority under any other law for the time being in force". The query was also sent to the Prime Minister's Office and the Finance Ministry but it remained unanswered even after 30 days of filing of the RTI application. The applicant had also sought to know the designation and the names of officials who were consulted before scraping of old Rs 500 and Rs 1000 currency notes. "The information sought relates to sensitive matters pertaining to discontinuation/withdrawal of bank notes. The information is exempt from disclosure under Section 8(1)(a) and (g) of RTI Act," the RBI said. The monetary policy regulator also did not disclose if the decision to demonetise currency notes worth Rs 20 lakh crore was opposed by any official or minister, saying the information sought is "hypothetical" in nature. It also cited Section 8(1)(a) of the RTI Act to deny minutes of deliberations related to demonetisation. Section 8(1)(a) of the RTI Act exempts from disclosure the information which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign state or lead to incitement of an offence. Information sought under Section 8(1)(g) would endanger the life or physical safety of any person or identify the source of information or assistance given in confidence for law enforcement or security purposes. The RBI has been denying information related to crucial aspects related to demonetisation citing exemption clauses. It recently refused to give reasons behind the demonetisation move. Earlier, it had denied to Mumbai-based RTI Activist Anil Galgali information about distribution of currency to banks between November 9 and November 19 citing Section 8(1)(g) of the RTI Act. The central bank did not give any reason as to how this section would apply in the case of information sought by Galgali. RTI Activist Venkatesh Nayak, who was also denied deliberations on demonetisation by the RBI, said: "While confidentiality prior to announcing the demonetisation decision is understandable, continued secrecy after its implementation is difficult to understand when people are facing problems due to shortage of cash." He said the refusal to disclose the minutes of the board meeting where the decision was taken is "perplexing". (PTI)

RBI refuses to say if finance minister was consulted before demonetisation