Arvind Panagariya quits as vice-chairman of NITI Aayog

Arvind Panagariya, vice-chairman of Government’s Niti Aayog, in a recent announcement announced his resignation from the post on 31st August after serving for two-and-a-half years.

NITI Aayog, after replacing the Planning Commission, was constituted as a premier “think tank” to formulate policies for the Government of India, which is meant to provide both directional and policy inputs.

Arvind Panagariya (64) is an economist chosen by PM Modi in January 2015 as vice-chairman of Niti Aayog. According to reports, India-born Panagariya didn’t have a fixed term and is returning back to Columbia University, where he has been serving as a professor of Indian Political Economy.

He asserted that around two months ago he had expressed his desire to Prime Minister Narendra Modi to be relieved by August 31 as the University was not agreeing on his further extension. Panagariya also said he had to make a choice as it would not be possible for him to get the job he had been doing at Columbia University. In his statement he has also revealed his further plans of writing a sequel of his 2008 published book, “India: The Emerging Giant”.

Last year, under similar circumstances, former RBI chief Raghuram Rajan had also quit after a 3-year term to rejoin the Chicago University.