The government has appointed senior economist Dr Arvind Virmani as a full-time member of the NITI Aayog.
Virmani, founder-chairman of the non-profit public policy organisation Foundation for Economic Growth and Welfare, has served as the Chief Economic Advisor in the Ministry of Finance during the Manmohan Singh-led UPA government from 2007-09.
Virmani’s appointment as the full-time member of NITI Aayog has been approved by Prime Minister Narendra Modi. A notification to this effect was issued by the Cabinet Secretariat on November 15.
“The Prime Minister has approved the appointment of Shri Arvind Virmani, Founder, Chairman, Foundation for Economic Growth & Welfare as Full-Time Member, NITI Aayog with immediate effect and until further orders, on the same terms and conditions as are applicable to Full-Time Members of NITI Aayog,” the Cabinet Secretariat’s notification said.
The NITI Aayog, the government’s premier think tank headed by the Prime Minister, at present has three members — Dr V K Saraswat, Professor Ramesh Chand and Dr V K Paul. Virmani has been appointed the NITI Aayog member with “immediate effect”.
Virmani has served in various capacities in the government. He was a member of the Reserve Bank of India’s Technical Advisory Committee on Monetary Policy from February 2013 to August 2016. He has also served at the International Monetary Fund (IMF), Washington DC.
When Virmani served as the Chief Economic Advisor in the Ministry of Finance for two years from 2007-2009, P Chidambaram was the Minister of Finance. He also briefly worked with Pranab Mukherjee when he moved to North Block after Chidambaram was shifted from Finance to Home Affairs.
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In 2009, Virmani was appointed the Executive Director, International Monetary Fund, and he served there till 2012. During his tenure at IMF in Washington DC, he represented India (as its Ambassador to IMF), Bangladesh, Sri Lanka and Bhutan.
Virmani, who is a PhD in Economics from Harvard University, USA, has also served as Principal Advisor, Planning Commission.
He has written several books, including The Sudoku of India’s Growth; From Uni-polar To Tri polar World: Multi-polar Transition Paradox ; Propelling India From Socialist Stagnation To Global Power ; and Accelerating Growth and Poverty Reduction – A Policy Framework for India’s Development.