C Rangarajan resigns from PM's EAC; Suresh Tendulkar succeeds

New Delhi, Aug 8 (UNI) Dr C Rangarajan today resigned as Chairman of Prime Minister Manmohan Singh's Economic Advisory Council amid speculation that he is being made a member of the Rajya Sabha.

Dr Rangarajan, who was RBI Governor from 1992-97, has resigned after completing nearly four years in the key post that helps steer India's growing economy, the third largest in Asia.

EAC member Suresh D Tendulkar has been appointed its Chairman following the exit of Dr Rangarajan, official sources said.

EAC is expected to present its economic review for 2008-09 next week.

Earlier this week, Dr Rangarajan told reporters that the country's economy would grow 7.5 per cent to 8 per cent in the current fiscal and inflation would moderate by the end of March next year.

Dr Rangarajan has also been Governor of Andhra Pradesh and a Member of the Planning Commission.

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