Union Minister Arun Jaitley penned a Facebook post for outgoing Chief Economic Advisor Arvind Subramanian, thanking him for his contributions to the Indian economy.
In the post, Jaitley said he would miss Subramanian's "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," he said.
Earlier in the day, Jaitley announced that Subramanian has asked to step down before the end of his term as Chief Economic Advisor.
"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. On the expiry of his three-year term, I 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," he said.
Jaitley further noted that Subramanian's Economic Surveys, presented prior to the Union Budget every year, were treated by several independent critics as one of the best ever produced.
"The Economic Survey today is a basic teaching material all over India. He thought ahead and, therefore, came out with futuristic ideas on rationalisation of removal of "subsidies for the rich", universal basic income, climate change, from "socialism without entry and capitalism without exit" and the four C's that he had historically paralysed decision making. He conducted the first online course on Indian economy for the benefits of students and teachers across the country," he elaborated.
Jaitley also lauded Subramanian for building a strong team of both "insiders" and "outsiders" in the Economic Division of the Ministry.
"Arvind's interaction with the Government in the Ministry of Finance, Prime Minister's Office and with other Departments was both formal and informal. His instantaneous communications with his interlocutors had increased his effectiveness. The Chief Economic Advisor's job had multi-facets to it. He is not a spokesman of the Government. He is an Advisor who has to analyse and thinks several steps ahead. It is a unique responsibility with the freedom to the work that he enjoys. Arvind functioned within these parameters and concentrated on the challenges to the economy," he added.
Subramanian, whose term was to end on October 16 last year, was given an extension of a year by the Ministry of Finance.
Apart from the Economic Survey, Subramanian is known for conceptualising the JAM trinity (Jan Dhan, Aadhar, Mobile), a database for availing public benefits.
He was also responsible for the creation of the government's online education platform "Swayam", which became one of the most followed courses in India.
Subramanian will be returning to the United States, owing to personal commitments.
Disclaimer: No Business Standard Journalist was involved in creation of this content
