The central government will present the Economic Survey 2021, which sets the stage for the Union Budget, on Friday. The government’s Chief Economic Advisor is the mastermind of the document, which is tabled in both Houses of the Parliament, and reviews the vital elements of the Indian economy over the previous financial year.
Krishnamurthy Subramanian, chief economic adviser, is scheduled to hold a press conference to the discuss the survey after Finance Minister Nirmala Sitharaman tables the survey in Parliament today.
The document, which is tabled in both Houses of the Parliament, reviews the developments that took place in the Indian economy over the past financial year. It comprises of Volume I, Volume II and the statistical appendix.
Scheduled to be released three days before Finance Minister Nirmala Sitharaman tables Budget 2021 in the Parliament, the Economic Survey is prepared by the economic division of the Department of Economic Affairs, consisting of CEA Subramanian and his team.
KV Subramanian assumed his post as CEA in December 2018, for a tenure of three years. He succeeded Arvind Subramanian, who vacated the post early due to “personal reasons.”
He is also associate professor of finance and executive director for the Centre for Analytical Finance at country’s premier business-school Indian School of Business (ISB) – Hyderabad.
A PhD from Chicago-Booth under former RBI governor, Raghuram Rajan , and a top-ranking IIT-IIM alumnus, Subramanian is one of the world’s leading experts in banking, corporate governance and economic policy.
He has also served on several expert committees including the PJ Nayak Committee on governance of banks for the Reserve Bank of India (RBI) and the Uday Kotak Corporate Governance Committee of Securities and Exchange Board of India (SEBI).
He was also the Founding Board Member at Bandhan Bank (2015-2018).
Subramanian is known for his idea of Thalinomics, where what a common person pays for a vegetarian or non-vegetarian thali, has been acclaimed as the Indian Big Mac Index.
In previous academic roles, Subramanian served on the finance faculty at Goizueta Business School at Emory University in the United States.
Before beginning his academic career, Subramanian worked as a consultant with JPMorgan Chase in New York. He also served in a management role in the elite derivatives research group at ICICI Ltd, which at the time was India’s top project financing institution.
Subramanian’s educational qualifications include a PhD (Financial Economics) from the Booth School of Business, University of Chicago (2005); and MBA (Top ranker in the Batch, Placed in the Institute’s Roll of Honor) (Finance) from the Indian Institute of Management (IIM), Calcutta (1999); and a B. Tech (Electrical Engineering) degree from the Indian Institute of Technology (IIT), Kanpur (1994).