India’s Top Economic Adviser to Step Down Weeks Before Budget

(Bloomberg) -- India’s Chief Economic Adviser Krishnamurthy Subramanian plans to return to academia when his three-year term ends, just weeks before the presentation of an annual state-of-the-economy survey and before the government starts preparation for its annual budget.

Subramanian, who was a professor of finance at one of India’s leading management schools, announced his decision to step down in a Twitter post Friday. His term ends in December ahead of the Economic Survey and the federal budget in January-February.

The government hasn’t yet named a successor.

In the Economic Survey he authored in January 2020, Subramanian dedicated an entire chapter to ‘Thalinomics’ -- the economics of a plate of food in India and equivalent to The Economist’s Big Mac Index. His version of ‘Thalinomics’ found that between 2016 and 2018 prices for a plate of food had eased.

©2021 Bloomberg L.P.