Finance minister, Arun Jaitley, on Saturday extended the tenure of Chief Economic Advisor, Arvind Subramanian, for another year. His term was supposed to end in October.
Subramanian took over as CEA on 16 October 2014 for a period of three years. Now, his term will end in October next year.
Earlier in the week, the Ministry had denied that Subramanian was resigning after media outlets reported he might do so before his term was completed.
Subramanian’s term as CEA has been marked by dynamic suggestions and analysis to do with the economy — including coining of the term ‘JAM trinity’ (for Jan Dhan, Aadhaar, and Mobile) and elaborating on its benefits.