The exit is not a sudden decision, Panagariya said
Indian American economist Arvind Panagariya on Tuesday resigned from the post of NITI Aayog’s vice chairman and said that he would like to return to academics in the United States.
The 64-year-old Panagariya told Times of India that the exit is not a sudden decision and he had discussed it with Prime Minister Narendra Modi, who is also the chairman of NITI Aayog, two months ago.
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“This has been in the works, only that it has come out suddenly. My leave (from Columbia University) was ending by the end of this month – August 31. So couple of months ago, I spoke to the Prime Minister. The PM was of course was very supportive and said he would like me to stay for full term,” Times of India quoted Panagariya. “I then went back to Columbia University for extension of leave. I had been on the phone with the dean of SIPA but unfortunately I could not get the extension. Public service leave is given for two years.”
NITI Aayog, or the National Institution for Transforming India, is Indian government’s top policy think-tank, which came as a replacement for the Planning Commission of India, that was formed in 1950. It is the brainchild of Prime Minister Narendra Modi and it aims to foster involvement and participation in the economic policy-making process by the State Governments of India.
From NITI Aayog’s formation in January 2015, Panagariya serves as the Vice President and he will relieve of his duties by August 31.
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“The kind of job that I have in Columbia University would be almost impossible for me to get again. In the US, there is no retirement age. As long as our body and brain work, you can continue to work. So from a longer term perspective, it was very difficult for me to resign. That is where I decided ultimately with a heavy heart that I would return to Columbia Universtiy,” the news paper quoted Panagariya.
According to reports, the government has already decided another well-known economist as Panagariya’s successor and the name is expected to be announced soon.