CEA Arvind Subramanian gets 1-yr extension

The Finance Ministry tweeted the announcement

Chief Economic Adviser to Government of India, Arvind Subramanian's tenure has been extended by one year. Subramanian's 3-year term was going to end on 16 October, next month.

The Finance Ministry tweeted the announcement. The ministry on Thursday dismissed reports about Subramanian's resignation.

Speaking to media, Subramanian said he was delighted to take on the challenges; and Government is working on multiple fronts to revive economy.

"As Finance Minister said, in days ahead, you will know what the Government is planning to do," he added.

With the extension, his tenure became co-terminus with the current term of the Narendra Modi-led National Democratic Alliance (NDA) government till 2019.

Subramanian succeeded Raghuram Rajan as Chief Economic Adviser in October 2014. The post of CEA was lying vacant for over a year before Subramanian took charge.

The CEA is usually the main go-to person for advice for the finance minister on macro-economic matters, and primary responsibilities, among others, include authoring the mid-year analysis and the Economic Survey.

(With agency inputs)