Chakravarthy Rangarajan, chairman of the Prime Minister's Economic Advisory Council, is headed for the Rajya Sabha, after a high-level clearance of his name this evening. |
Rangarajan, a former Reserve Bank of India governor, is tipped to get a Cabinet berth in the United Progressive Alliance government. |
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Rangarajan was the chairman of the Twelfth Finance Commission, whose recommendations were implemented from April this year. |
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In 2001, he was appointed the governor of Andhra Pradesh by the National Democratic Alliance government headed by Atal Bihari Vajpayee. |
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Prior to that he was the governor of the Reserve Bank of India from 1992 to 1997 after having served as a deputy governor for over a decade. During his stint as the Central Bank governor, changes in exchange rate management were introduced and a unified exchange rate was established. |
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He has also served as a member of the Planning Commission. The government recently appointed a committee led by Rangarajan to look at the pricing in the petroleum sector. |
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