Arvind Panagariya, the first vice-chairman of Niti Aayog, announced his resignation from office on Tuesday. 31 August is likely to be his last working day in Niti Aayog.
Panagariya was considered to be Prime Minister Narendra Modi’s personal pick for economic reforms.
Though the exact reasons behind his resignation is not known as yet, there have been reports of him wanting to return to academic life in the US, from where he came for the Niti Aayog assignment.
The 62-year-old is an Indian-American economist and Professor of Economics at Columbia University. He is known for his market-friendly views.
Panagariya has been seen as a supporter of PM Modi and has openly spoken about his success as the chief minister of Gujarat.
“He [Narendra Modi] restored confidence among the bureaucracy, improved inter-ministerial coordination and greatly speeded up environmental clearances. Red tape was cut for new businesses via the introduction of a single-window facility,” he had said.
Panagariya is the former chief economist of the Asian Development Bank and a professor of economics and co-director, Centre for International Economics, the University of Maryland at College Park.
The economist has also worked with the World Bank, International Monetary Fund, World Trade Organisation, and the United Nations Conference on Trade and Development (UNCTAD) in various capacities.
He has also authored over 10 books.