Arvind Panagariya Current Affairs
Noted economist Rajiv Kumar took over as the Vice-Chairman of government National Institution for Transforming India (NITI) Aayog. He succeeds Indian- American economist Arvind Panagariya who had resigned to return to academia.
As a Vice Chairman of NITI Aayog, he will hold Union Cabinet Minister rank. Prime Minister is ex-officio Chairperson of the Aayog.
Mr Kumar was a senior fellow at the Centre for Policy Research. He holds a Doctor of Philosophy in economics from Oxford and PhD from Lucknow University. He also served as Secretary General of industry association, FICCI.
He was a member of the National Security Advisory Board between 2006 and 2008. He also had served as the Chief Economist of the Confederation of Indian Industries (CII) and held senior positions in the Asian Development Bank (ADB), Indian Ministry of Industries and Ministry of Finance. He has authored several books on the Indian economy and India’s national security.
NITI Aayog is the premier policy ‘Think Tank’ of the Union Government, providing both directional and policy inputs. It is non-constitutional and non-statutory body established formed through resolution of Union Cabinet on January 1, 2015. It had replaced had replaced the 65-year old Planning Commission established in 1950.
NITI Aayog is an advisory body with mandate to provide critical directional and strategic inputs across spectrum of key elements of policy to the centre. It acts as quintessential platform of Central Government to bring States to act together in national interest and thereby fosters Cooperative Federalism. It also designs strategic and long term policies and programmes for Central Government of India and also provides relevant technical advice to Centre.
Arvind Panagariya (64) has resigned as Vice Chairman of NITI (National Institution for Transforming India) Aayog and announced to return to academics in US.
He resigned after his public service leave for two years from the Columbia university, where he is professor of Indian Political Economy did not receive extension. He was appointed as the as Vice Chairman of NITI Aayog in January 2015 and held cabinet minister rank.
About Arvind Panagariya
Before joining Niti Aayog, he was a professor at Columbia University and chief economist at the Asian Development Bank (ABD). He has also worked for the World Bank, International Monetary Fund (IMF), World Trade Organisation (WTP), and the UN Conference on Trade and Development (UNCTD) in various capacities.
He has earned PhD in economics from prestigious Princeton University. He has written around 10 books and the latest was India: The Emerging Giant published in 2008. He was honoured with Padma Bhushan in 2102.
About NITI Aayog
NITI Aayog was formed on January 1, 2015. NITI Aayog via a resolution of the Union Cabinet. It is the premier policy ‘Think Tank’ of the Union Government, providing both directional and policy inputs. It had replaced the 65-year old Planning Commission established in 1950. Prime Minister is ex-officio Chairperson of the Aayog.
NITI Aayog plays important role in designing strategic and long term policies and programmes for the Government. It also provides relevant technical advice to the Centre and States. It also acts as the quintessential platform of Union Government to bring States to act together in national interest, and thereby fosters Cooperative Federalism.