Krishnamurthy Subramanian
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Krishnamurthy Venkata Subramanian (born May 5, 1971) is an Indian economist who served as the 17th
chief economic adviser to the Government of India ThChief Economic Adviser (CEA)is a post in Government of India and is equivalent to rank of Secretary to the Government of India. The CEA is the ex-officio cadre controlling authority of the Indian Economic Service. The CEA is head of Econom ...
. Subramanian is a leading expert on economic policy, banking and corporate governance, who was the youngest chief economic advisor to the Government of India, serving from 2018 to 2021. He has been appointed to the post of India's executive director at the IMF, with effect from November 1, 2022.


Education

Subramanian was born in
Bhilai Bhilai is a city in Durg district of the States and union territories of India, Indian state of Chhattisgarh, in eastern central India. With population exceeding 1 million, it is the second-largest urban area in Chhattisgarh after Raipur. Bhil ...
,
Chhattisgarh Chhattisgarh (, ) is a landlocked state in Central India. It is the ninth largest state by area, and with a population of roughly 30 million, the seventeenth most populous. It borders seven states – Uttar Pradesh to the north, Madhya Prade ...
in a Tamil family. He is an alumnus of the
Indian Institute of Technology, Kanpur The Indian Institute of Technology Kanpur (IIT Kanpur) Hindi: भारतीय प्रौद्योगिकी संस्थान कानपुर) is a public institute of technology located in Kanpur, Uttar Pradesh, India. It was ...
where he studied
electrical engineering Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems which use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the l ...
and holds a
Master of Business Administration A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
from
IIM Calcutta Indian Institute of Management Calcutta (IIM Calcutta or IIM-C) is a public business school located in Joka, Kolkata, West Bengal, India. It was the first Indian Institute of Management to be established, and has been recognized as an Institu ...
, where he was awarded gold medal and placed in the Institute’s Roll of Honor . He received a
Doctor of Philosophy A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common Academic degree, degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields ...
(PhD) in
financial economics Financial economics, also known as finance, is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on ''both sides'' of a trade".William F. Sharpe"Financial ...
from
University of Chicago Booth School of Business The University of Chicago Booth School of Business (Chicago Booth or Booth) is the graduate business school of the University of Chicago. Founded in 1898, Chicago Booth is the second-oldest business school in the U.S. and is associated with 10 N ...
. His PhD was completed under the supervision of
Luigi Zingales Luigi Zingales (; born 8 February 1963 in Padua, Italy) is a finance professor at the University of Chicago Booth School of Business and the author of two widely-reviewed books. His book '' Saving Capitalism from the Capitalists'' (2003) is a stu ...
and
Raghuram Rajan Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Quote: "I am an Indian citizen. I have always b ...
. He was awarded an
Ewing Marion Kauffman Foundation The Ewing Marion Kauffman Foundation (Kauffman Foundation) is a registered 501(c)(3) nonprofit, private foundation based in Kansas City, Missouri. It was founded in 1966 by Ewing Marion Kauffman, who had previously founded the drug company M ...
Dissertation Fellowship in 2005 for his doctoral research thesis.


Career

Subramanian has worked in expert committees for Securities and Exchange Board of India and the
Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...
, being a part of major economic and corporate reforms in India. He was Member & Director of Research, P J Nayak Committee on Governance of Bank Boards formed by RBI, and was also a member of Uday Kotak Committee on Corporate Governance in
SEBI The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive ...
. He has worked with
JPMorgan Chase JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the ...
,
ICICI Bank ICICI Bank Limited is an Indian Private bank. It is headquartered at Mumbai. It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiari ...
and
Tata Consultancy Services Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In July ...
. He was a member of board of directors in
Bandhan Bank Bandhan Bank Ltd. is a banking and financial services company, headquartered in Kolkata. Bandhan Bank is present in 34 out of 36 states and union territories of India, with 5,646 banking outlets and more than 2.77 crore customers. Having re ...
. He was also a member of board of directors in the
National Institute of Bank Management The National Institute of Bank ManagementNIBM is an autonomous institute located in Pune, India. It is an autonomous, apex institution for research, training, education and consultancy in bank management. About the institute NIBM was establis ...
and the Reserve Bank of India Academy.


Academic career

Subramanian taught at the
Goizueta Business School Emory University's Goizueta Business School (also known as ''Goizueta Business School'', ''Emory Business School'', or simply ''Goizueta'' – pronounced ''goy-swet-ah'') is the private business school of Emory University located in Atlanta, Georgi ...
at
Emory University Emory University is a private research university in Atlanta, Georgia. Founded in 1836 as "Emory College" by the Methodist Episcopal Church and named in honor of Methodist bishop John Emory, Emory is the second-oldest private institution of ...
in the United States of America from 2005 to 2010. He is a member of
American Finance Association The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the ''Journal of Finance'', was first published in 1946. ...
. In 2009, he visited the
Indian School of Business The Indian School of Business (ISB) is a private business school established in India in 2001. It has two parallel campuses in India, in Hyderabad (Telangana) and Mohali (Punjab). It offers certificates in various post-graduate management prog ...
(ISB) as a visiting scholar. He subsequently joined the ISB as an assistant professor. At ISB, he served as an associate professor and later professor. He also served as the Executive Director of the Centre For Analytical Finance at ISB. He was awarded "Professor of the Year" by ISB for courses that he taught for the Class of 2019.


Chief economic advisor

As the chief economic advisor (CEA), Subramanian authored Economic Surveys on Ethical Wealth Creation for a prosperous India (2019-20), the Strategic Blueprint for India to become a $5 trillion economy (2018-19), and the post-Covid economy using public capital expenditures in infrastructure and healthcare to further counter-cyclical fiscal policy (2020-21). His ideas of the use of
Behavioural Economics Behavioral economics studies the effects of psychological, cognitive, emotional, cultural and social factors on the decisions of individuals or institutions, such as how those decisions vary from those implied by classical economic theory. ...
and Thalinomics captured the public imagination. Subramanian was inducted into the FifteenthFinance Commission's advisory council in May 2019. In articles published in ''
The Times of India ''The Times of India'', also known by its abbreviation ''TOI'', is an Indian English-language daily newspaper and digital news media owned and managed by The Times Group. It is the third-largest newspaper in India by circulation and largest ...
'' and ''
Livemint ''Mint'' is an Indian financial daily newspaper published by HT Media, a Delhi-based media group which is controlled by the K. K. Birla family that also publishes ''Hindustan Times''. It mostly targets readers who are business executives and ...
'' titled, "Will Black Be Back? Why demonetisation will be revolutionary in India’s fight against corruption", and "Demonetisation: Are the poor really suffering?", respectively, Subramanian supported the Government of India's banknote demonetisation policy in 2016. In August 2022, Subramanian was appointed the Executive Director for India at the
International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...
, for a period of three years. He took over from Surjit Bhalla on 1 November 2022. Subramanian has been conferred the Distinguished Alumnus award by his alma maters
IIT-Kanpur The Indian Institute of Technology Kanpur (IIT Kanpur) Hindi: भारतीय प्रौद्योगिकी संस्थान कानपुर) is a public institute of technology located in Kanpur, Uttar Pradesh, India. It was ...
and IIM-Calcutta.


References


External links

*
Krishnamurthy Subramanian
Curriculum Vitae In English, a curriculum vitae (,
Living people 1971 births People from Bhilai {{DEFAULTSORT:Subramanian, Krishnamurthy 20th-century Indian economists 21st-century Indian economists IIT Kanpur alumni Indian Institute of Management Calcutta alumni University of Chicago Booth School of Business alumni University of Chicago alumni Academic staff of the Indian School of Business Chief Economic Advisers to the Government of India