Prof. Kaushik Basu appointed Chief Economic Advisor
Kaushik Basu, Professor of Economics, Cornell University, USA, has been appointed as Chief Economic Advisor in the Finance Ministry in the rank of Secretary and will report to the FM. Prof. Basu is likely to join mid December taking a two year leave from Cornell University.
Prof. Basu has an impressive CV, with a PhD from the London School of Economics and having been a visiting Professor at MIT, Harvard and Princeton apart from working in Delhi School of Economics and Indian Statistical Institute. Basu was awarded the coveted Padma Bhushan in 2008, at the same time that our Finance Minister Pranab Babu was awarded the Padma Vibhushan.
Basu has absolutely no experience in babudom, but with a leading economist leading the country, Basu can certainly feel comfortable – at least let us hope so. Let us also hope Prof. Basu advises the Government only in matters relating to the Economy and not promotion of Chief Commissioners.
Prof Basu will play a key role in the next ‘economic survey' and Budget 2010 and perhaps the GST.