The Government has extended the tenure of Chief Economic Adviser (CEA) V. Anantha Nageswaran for an additional two years, until March 2027.

The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, approved the extension of Mr. Nageswaran's contract until March 31, 2027.

According to an office order, with ACC’s approval, Mr. Nageswaran’s tenure as Chief Economic Adviser on a contract basis is extended until March 31, 2027, or until further notice, whichever comes first. He assumed the role of CEA on January 28, 2022, for an initial three-year term.

The office of CEA is responsible for giving advice to the government on various economic policies and drafting the Economic Survey which is tabled in Parliament a day ahead of the Union Budget.

Mr. Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeded K V Subramanian.

His extension comes weeks after the Economic Survey 2024-25 projected a growth of 6.3-6.8% for the next financial year amid Asia's third-largest economy showing signs of moderation.

As per the government’s advance estimates, the economy is expected to grow at 6.4% in the current financial year.

Prior to taking over as CEA, Mr. Nageswaran worked as an author, teacher and consultant. He has also been a part-time member of the Economic Advisory Council to the Prime Minister from 2019 to 2021.

Besides, he has taught at several business schools and institutes of management in India and Singapore and has published extensively.

Mr. Nageswaran holds a Post-Graduate Diploma in Management (MBA) degree from the Indian Institute of Management, Ahmedabad. He obtained a doctoral degree in Finance from the University of Massachusetts in 1994 for his work on the empirical behavior of exchange rates.

He served as the Dean of the IFMR Graduate School of Business and was a distinguished Visiting Professor of Economics at Krea University.

Mr. Nageswaran was also a co-founder of the Takshashila Institution, an independent center for research and education in public policy, and played a key role in launching the Aavishkaar Group's first impact investment fund in 2001.