New York: Indian-American economist Arvind Panagariya has said that he is “honoured” to be appoin-ted by Prime Minister Narendra Modi as the first Vice Chairman of the newly created NITI Aayog, which replaces the 65-year-old Planning Commission.
“I am honoured by this appointment, and I look forward to working with Prime Minister Modi and policymakers across India,” Panagariya was quoted as saying in a statement issued by the Columbia University here yesterday. Panagariya is the professor of econo-mics and the Jagdish Bhag-wati Professor of Indian Political Economy in the Department of International and Public Affairs.
He will take a leave of absence from Columbia to accept his position at the National Institution for Transforming India (NITI) Aayog. The 62-year-old professor said he expects to continue to engage with Columbia’s School of International and Public Affairs (SIPA) “when such opportunities arise” and will resume his work at the School when his assign-ment is completed.
In his new cabinet position, Panagariya will work closely with Modi, who will serve as chair of the renamed institution. Officials envision NITI Aayog as a government “think tank” that will provide strategic and technical advising on key issues.
Panagariya, who has been a strong supporter of Modi’s Gujarat model of development, had said some months ago that he wants the BJP govern-ment’s first budget to boost capital spending even at the risk of a higher fiscal deficit. (PTI)
