Krishnamurthy Subramanian was on Friday named as the new Chief Economic Adviser (CEA) for a period of three years. He will succeed Arvind Subramanian, who stepped down from his post in June this year.
Krishnamurthy is an Associate Professor and Executive Director (Centre for Analytical Finance) at the Indian School of Business, Hyderabad, with a PhD from the University of Chicago Booth School of Business. Hailing from Hyderabad, Subramanian is an alumnus of IIT Kanpur and IIM Calcutta.
His CV boasts of his expertise in public policy, having served as a member of SEBI’s Standing Committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research.
As part of his corporate policy work, he also served on the boards of Bandhan Bank, the first bank to be licensed after independence in eastern India, the National Institute of Bank Management, and the RBI Academy, and claims to have research interests in “Banking and monetary policy, Innovation and entrepreneurship, Law and Finance, and Corporate Governance.” He has written for leading publications and frequently appears as an expert commentator on various media channels.
His profile in the ISB faculty defines him as one of the chief architects of corporate governance and banking reforms in India.
Krishnamurthy obtained his MBA and PhD in Financial Economics at the University of Chicago Booth School of Business under the advice of Professor Luigi Zingales and Professor Raghuram Rajan (former CEA and RBI governor).
Krishnamurthy had hailed the Centre’s 2016 budget as an excellent budget for rural India, calling it a ‘budget for Bharat’. In a column he wrote for the Live Mint, he had backed demonetisation, saying the people facing difficulties from the note ban exercise belonged to the “top half of the country’s income distribution, certainly not the poor.”
He has also served on the finance faculty at Goizueta Business School at Emory University in the United States and has produced award-winning works. His PhD dissertation earned him the Ewing Marion Kauffman Foundation Dissertation Fellowship, which recognizes the top 15 PhD dissertations across all disciplines every year.