New Delhi: The government will extend the term of Chief Economic Adviser Arvind Subramanian by one year till October 2018, Finance Minister Arun Jaitley said on Saturday.
Subramanian, a Senior Fellow at the Peterson Institute for International Economics, was appointed India's Chief Economic Adviser (CEA) in October 2014. His term was for three years, which was to end on October 16.
Interacting with reporters today, Jaitley said "he (Subramanian) gets extension for one year".
The BJP-led NDA government's 5-year term ends in May 2019.
According to sources, a formal announcement will be made after all procedures are complete.
The Chief Economic Adviser is usually the main go-to person for advice for the finance minister on macro-economic matters, and primary responsibilities, among others, include authoring the mid-year analysis and the Economic Survey.