Subramanian’s resignation no surprise; experts fed up by financial anarchy: Congress

The Congress today said the resignation of Chief Economic Adviser Arvind Subramanian has not come as a surprise as all ‘financial experts’ in Modi government are fed up of its ‘colossal economic mismanagement” and are stepping down.

Congress communications in-charge Randeep Surjewala cited examples of ex-Niti Aayog vice chairman Arvind Panagariya and former RBI Governor Raghuram Rajan in this regard.

“Financial experts’ of Modi government are completely fed up by its colossal economic mismanagement, tepid economic reforms and financial anarchy,” he said on Twitter.

“CEA, Arvind Subramanian’s resignation after the stepping down of Niti Aayog’s Arvind Panagriya and RBI Governor Raghuram Rajan comes as no surprise!” he said.

Subramanian will be leaving the finance ministry after nearly 4 years because of “pressing family commitments” and return to the US,” Union minister Arun Jaitley said today.

He was appointed as the CEA to the finance ministry on October 16, 2014, for a period of three years. In 2017, his term was extended by a year.

“A 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 to him. He left me with no option but to agree with him,” Jaitley wrote in a Facebook post.

The minister, however, did not say as to when Subramanian will relinquish the office.

“Profoundly grateful & humbled by these extraordinarily generous words by Minister @arunjaitley announcing my decision to return for personal reasons-to researching & writing. CEA job most rewarding, fulfilling, exciting I have ever had. Many many to thank,” Subramanian tweeted minutes after Jaitley’s post.