India’s chief economic adviser to stand down, return to US

NEW DELHI: India’s chief economic adviser Arvind Subramanian is standing down after serving for nearly four years and would return to the United States, the finance minister said on Wednesday. “He would like to go back to the United States on account of pressing family commitments,” Arun Jaitley said in a Facebook post. “He left me with no option but to agree with him.” Subramanian, 59, joined as the chief economic adviser on Oct. 16, 2014 for a three-year term, which was later extended by a year. The Indian-born, Oxford-educated economist was picked by Prime Minister Narendra Modi for the post, which was left vacant by former International Monetary Fund (IMF) chief economist Raghuram Rajan when he took over the reins of India’s central bank. Subramanian had earlier worked with Rajan at the IMF.