UN official Ajay Chhibber tipped to take over from CEA Basu

Earlier,a selection panel headed by PMs Economic Advisory Council chairman C Rangarajan had shortlisted names of former IMF economist Raghuram Rajan and IDFC managing director & CEO Rajiv Lall for the post. The panel is expected to meet later this week to finalise its recommendation. Rajan,economic adviser to the PM was largely seen as the front-runner for the post. A final call will be taken by Prime Minister Manmohan Singh who also holds additional charge of the finance portfolio.

Chhibber is a World Bank official who worked at the Planning Commission and was also a lecturer in economics at the University of Delhi. He took up his current assignment at the UN in July 2008. He holds a PhD from Stanford University and a Masters from the Delhi School of Economics.

The finance ministry had advertised for the post of the CEA in April this year with a deadline of May 18,2012. The current CEA Kaushik Basu is on a six month extension,but is due to leave in August this year. A professor at Cornell University,Basu had joined the finance ministry in December 2009.

Meanwhile,department of economic affairs secretary R Gopalan could get another extension. Sources said that the government is considering giving a one month extension to Gopalan. The DEA secretary is already on a three month extension which is set to end on July 31. A 1976 batch IAS officer of Tamil Nadu cadre,Gopalan retired from service on April 30 this year.