Arvind Subramanian quits as Economic Advisor, Jaitley accepts resignation

Chief Economic Advisor Arvind Subramanian on Wednesday has resigned due to personal reasons. The finance minister Arun Jaitley announced the news on Facebook with a 'Thank You' note to Arvind Subramanian. His reasons were personal but extremely important for him, Jaitley said on Facebook.

Arun Jaitley further confirmed that Subramanian's term will not be extended and he will be moving to the United States, former Finance Minister Arun Jaitley confirmed on Wednesday.

In a 'Thank You' note on his Facebook page, Jaitley informed about Subramanian's decision to go back to the United States on account family commitments and added that he had no option but to agree with Subramanian.

"Few days ago Chief Economic Advisor Arvind Subramanian met me over video conferencing. He informed me that he would like to go back to the United States on account of pressing family commitments. His reasons were personal but extremely important for him. He left me with no option but to agree with him," Jaitley wrote in a Facebook post.

He further said that on expiry of Subramanian's three year term in October last year, he had requested him to continue for some more time.

"Even at that stage he told me that he was torn between family commitment and his current job which he considered the best and most fulfilling he has ever done," the minister said.

Jaitley, who was the Finance Minister before undergoing a kidney transplant surgery in mid-May, also thanked Subramanian for his contribution to macro economic management of Indian economy.

"Personally I will miss his dynamism, energy, intellectual ability and ideas. He would walk into my room - at times several times a day, addressing me as "Minister" to give either the good news or otherwise. Needless to say his departure will be missed by me. But I know that his heart is very much here. I am sure he will keep sending advice and analysis wherever he is," Jaitley wrote.

Here's the note posted by FM Arun Jaitley on Facebook:

Subramanian joined as the Chief Economic Adviser on Oct. 16, 2014 for a period of three years, which was later extended.

(with PTI inputs)