Krishnamurthy Subramanian
{{Short description|Indian economist}}
{{Use Indian English|date=December 2018}}
{{Use dmy dates|date = May 2019}}
{{Indian name|Subramanian|Krishnamurthy}}
{{Infobox officeholder
| office = 17th{{nbsp}}Chief Economic Advisor to the Government of India
| honorific_prefix =
| image = The Chief Economic Advisor, Dr. Krishnamurthy Subramanian at the National Conference on ‘Economics of Competition Law’, organised by the Competition Commission of India, in New Delhi on March 01, 2019. (cropped).JPG
| alt = Krishnamurthy Subramanian
| primeminister = Narendra Modi
| minister = Nirmala Sitharaman
| predecessor = Arvind Subramanian
| successor = V. Anantha Nageswaran
| birth_date = {{Birth date and age|1971|05|05|df=yes}}
| birth_place = Bhilai, Chhattisgarh, India
| nationality = Indian
| profession = Economist
| alma_mater = {{Unbulleted_list|Indian Institute of Technology Kanpur
{{small|(Bachelor of Technology)}}|Indian Institute of Management Calcutta
{{small|(Master of Business Administration)}}|University of Chicago Booth School of Business
{{small|(Doctor of Philosophy)}}}}
| term_start = {{Start date|2018|12|07|df=yes}}
| term_end = {{End date|2021|12|06|df=yes}} {{cite news | url=https://www.business-standard.com/article/economy-policy/cea-subramanian-to-leave-finance-ministry-will-return-to-academia-121100801100_1.html | title=CEA Subramanian to leave finance ministry, will return to academia | newspaper=Business Standard India | date=8 October 2021 | last1=Choudhary | first1=Shrimi }}
| module = {{Infobox economist| embed = yes
| doctoral_advisor = {{Unbulleted_list|Luigi Zingales|Raghuram Rajan}}
| institutions = {{Unbulleted_list|Indian School of Business|Goizueta Business School, Emory University}}
| field = Financial economics
}}
}}
Krishnamurthy Venkata Subramanian (born 5 May 1971) is an Indian economist who served as the 17th Chief Economic Advisor to the Government of India. 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.{{Cite web |title=Prof K Subramanian |url=http://www.iitk.ac.in/dora/profile/Prof-K-Subramanian |access-date=2022-06-14 |website=www.iitk.ac.in}} He has been appointed to the post of India's Executive Director at the IMF, with effect from November 1, 2022.He has been unexpectedly recalled from his post as India’s Executive Director (ED) at the International Monetary Fund (IMF), six months before his three-year term was set to conclude. The recall, approved by the Appointments Committee of the Cabinet (ACC), was announced in an order dated April 30, 2025, and took immediate effect.
Education
Subramanian was born in Bhilai, Chhattisgarh in a Tamil family. He completed his schooling from M.G.M. Senior Secondary School, Sector-6, Bhilai. He is an alumnus of the Indian Institute of Technology Kanpur where he studied electrical engineering and holds a Master of Business Administration from IIM Calcutta, where he was awarded gold medal and placed in the Institute's Roll of Honor .{{Cite web |title=Annual Convocation 2021 {{!}} IIM Calcutta |url=https://www.iimcal.ac.in/annual-convocation-2021 |access-date=2022-06-14 |website=www.iimcal.ac.in}} He received a Doctor of Philosophy (PhD) in financial economics from University of Chicago Booth School of Business. His PhD was completed under the supervision of Luigi Zingales and Raghuram Rajan. He was awarded an Ewing Marion Kauffman Foundation Dissertation Fellowship in 2005 for his doctoral research thesis.{{Cite web|url=https://www.kauffman.org/microsites/kdf/kauffman-dissertation-fellows|title=Kauffman Dissertation Fellows|website=www.kauffman.org|access-date=2018-12-07|archive-url=https://web.archive.org/web/20181209123831/https://www.kauffman.org/microsites/kdf/kauffman-dissertation-fellows|archive-date=2018-12-09|url-status=live}}
Career
Subramanian has worked in expert committees for Securities and Exchange Board of India and the Reserve Bank of India, 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. He has worked with JPMorgan Chase, ICICI Bank and Tata Consultancy Services.
He was a member of board of directors in Bandhan Bank. He was also a member of board of directors in the National Institute of Bank Management and the Reserve Bank of India Academy.{{Cite web|url=https://indianexpress.com/article/business/krishnamurthy-subramanian-chief-economic-advisor-cea5483274/|title=ISB professor Krishnamurthy Subramanian appointed as new Chief Economic Adviser|date=2018-12-07|website=The Indian Express|language=en-IN|access-date=2018-12-07|archive-url=https://web.archive.org/web/20181207145855/https://indianexpress.com/article/business/krishnamurthy-subramanian-chief-economic-advisor-cea5483274/|archive-date=2018-12-07|url-status=live}}
=Academic career=
Subramanian taught at the Goizueta Business School at Emory University in the United States from 2005 to 2010.{{Cite web|url=https://www.bloombergquint.com/global-economics/krishnamurthy-subramanian-appointed-as-the-next-chief-economic-adviser|title=Krishnamurthy Subramanian Appointed As The Next Chief Economic Adviser|website=BloombergQuint|date=7 December 2018 |access-date=2018-12-07|archive-url=https://web.archive.org/web/20181209124523/https://www.bloombergquint.com/global-economics/krishnamurthy-subramanian-appointed-as-the-next-chief-economic-adviser|archive-date=2018-12-09|url-status=live}}{{Cite web|url=https://www.moneycontrol.com/news/business/economy/govt-appoints-krishnamurthy-subramanian-as-chief-economic-adviser-for-3-years-3264991.html|title=Govt appoints Krishnamurthy Subramanian as Chief Economic Adviser for 3 years|website=Moneycontrol|date=7 December 2018 |access-date=2018-12-07|archive-url=https://web.archive.org/web/20181207154433/https://www.moneycontrol.com/news/business/economy/govt-appoints-krishnamurthy-subramanian-as-chief-economic-adviser-for-3-years-3264991.html|archive-date=2018-12-07|url-status=live}} He is a member of American Finance Association.
In 2009, he visited the Indian School of Business 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.{{cite web |title=Subramanian Krishnamurthy |url=https://www.isb.edu/en/research-thought-leadership/faculty/faculty-directory/krishnamurthy-subramanian.html |website=www.isb.edu |access-date=5 February 2023 |language=en}}{{Cite news |date=2019-04-06 |title=ISB awards "Professor of the Year" to Krishnamurthy Subramanian |work=thehindubusinessline.com |url=https://www.thehindubusinessline.com/news/education/isb-awards-professor-of-the-year-to-cea-krishnamurthy-subramanian/article26754501.ece}}
=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 {{currency|5|USD}} trillion economy (2018–19), and the post-COVID-19 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 and Thalinomics captured the public imagination.{{Cite web |title=Chief Economic Advisor to Govt. of India - Dr. K V Subramanian |url=https://www.greatlakes.edu.in/chennai/ |access-date=2022-06-14 |website=www.greatlakes.edu.in}}
Subramanian was inducted into the Fifteenth{{Nbsp}}Finance Commission's advisory council in May 2019.{{Cite news |date=3 May 2019 |title=Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory Council of 15th Finance Commission |work=Business Standard |publisher=Business Standard Ltd. |agency=Asian News International |url=https://www.business-standard.com/article/news-ani/chief-economic-advisor-krishnamurthy-subramanian-appointed-as-member-of-advisory-council-of-15th-finance-commission-119050301416_1.html |url-status=live |access-date=10 May 2019 |archive-url=https://web.archive.org/web/20200901040229/https://www.business-standard.com/article/news-ani/chief-economic-advisor-krishnamurthy-subramanian-appointed-as-member-of-advisory-council-of-15th-finance-commission-119050301416_1.html |archive-date=1 September 2020 |oclc=496280002}}{{Cite web |date=3 May 2019 |title=CEA K Subramanian joins Finance panel's advisory council |url=https://www.thequint.com/news/hot-news/cea-k-subramanian-joins-finance-panel-s-advisory-council |url-status=live |archive-url=https://web.archive.org/web/20200901040221/https://www.thequint.com/news/hot-news/cea-k-subramanian-joins-finance-panel-s-advisory-council |archive-date=1 September 2020 |access-date=10 May 2019 |website=The Quint |publication-place=New Delhi |agency=Indo-Asian News Service}}
In articles published in The Times of India and Livemint 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.{{Cite web|url=https://timesofindia.indiatimes.com/blogs/et-commentary/will-black-be-back-why-demonetisation-will-be-revolutionary-in-indias-fight-against-corruption/|title=Will Black Be Back? Why demonetisation will be revolutionary in India's fight against corruption|date=2016-11-11|website=Times of India Blog|language=en-US|access-date=2018-12-07|archive-url=https://web.archive.org/web/20181210024131/https://timesofindia.indiatimes.com/blogs/et-commentary/will-black-be-back-why-demonetisation-will-be-revolutionary-in-indias-fight-against-corruption/|archive-date=2018-12-10|url-status=live}}{{Cite web|url=https://www.livemint.com/Opinion/s6Wp9DGoeQK8FevHSsRTHO/Demonetization-Are-the-poor-really-suffering.html|title=Demonetisation: Are the poor really suffering?|last=Subramanian|first=Krishnamurthy|date=2016-11-23|website=Livemint|language=en|archive-url=https://web.archive.org/web/20181209124325/https://www.livemint.com/Opinion/s6Wp9DGoeQK8FevHSsRTHO/Demonetization-Are-the-poor-really-suffering.html|archive-date=2018-12-09|url-status=live|access-date=2018-12-07}}
In August 2022, Subramanian was appointed the executive director for India at the International Monetary Fund, for a period of three years. He took over from Surjit Bhalla on 1 November 2022. He was removed by the Indian Government on 4 May 2025, six months before his term ended amidst disagreements over IMF datasets and allegations of impropriety related to his book promotion.{{cite web |last1=Srivats |first1=K. R. |title=Former CEA KV Subramanian appointed as Executive Director at IMF |url=https://www.thehindubusinessline.com/economy/policy/former-cea-kv-subramanian-appointed-as-executive-director-at-imf/article65810663.ece |website=www.thehindubusinessline.com |access-date=5 February 2023 |language=en |date=25 August 2022}}{{cite web |title=Govt appoints former CEA K Subramanian as Executive Director for India at IMF |url=https://www.livemint.com/news/india/former-cea-krishnamurthy-subramanian-appointed-as-executive-director-for-india-at-imf-11661431706284.html |website=livemint.com |date=25 August 2022 |access-date=5 February 2023}}{{cite web |title=Former CEA KV Subramanian appointed as executive director for India at IMF |url=https://www.businesstoday.in/latest/trends/story/former-cea-kv-subramanian-appointed-as-executive-director-for-india-at-imf-345584-2022-08-25 |website=Business Today |access-date=5 February 2023 |language=en |date=25 August 2022}}{{cite web |title=India abruptly removes IMF board nominee Krishnamurthy Subramanian |url=https://timesofindia.indiatimes.com/business/india-business/india-abruptly-removes-imf-board-nominee-krishnamurthy-subramanian/articleshow/120859155.cms |website=timesofindia.indiatimes.com |date=4 May 2025 |access-date=7 May 2025}}
Subramanian has been conferred the Distinguished Alumnus award by his alma maters IIT Kanpur and IIM Calcutta.{{Cite web |url=https://twitter.com/iitkanpur/status/1185183350354432002 |access-date=2022-06-17 |website=Twitter |language=en}}
References
{{reflist}}
External links
- {{Commons category-inline|Krishnamurthy Subramanian}}
- [https://www.isb.edu/sites/default/files/CV_Krishnamurthy_Subramanian_July2018.pdf Krishnamurthy Subramanian] Curriculum Vitae
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{{s-gov}}
{{s-bef|before=Arvind Subramanian}}
{{s-ttl|title=Chief Economic Adviser of India|years=2018–2021}}
{{s-aft|after=V. Anantha Nageswaran}}
{{s-end}}
{{authority control}}
{{Ministry of Finance (India)}}
{{DEFAULTSORT:Subramanian, Krishnamurthy}}
Category:20th-century Indian economists
Category:21st-century Indian economists
Category:Indian Institute of Management Calcutta alumni
Category:University of Chicago Booth School of Business alumni
Category:University of Chicago alumni