"The Appointments Committee of the Cabinet (ACC) has approved for the appointment of Dr Krishnamurthy Subramanian, Associate Prof. and ED (CAF), ISB, Hyderabad, to the post of Chief Economic Adviser," said a government notification.
His appointment will be for a period of three years, it said.
An IIT-IIM alumnus, Subramanian holds Ph D (Financial Economics) from Booth School of Business, University of Chicago, the US.
The government had invited applications for the post CEA in July.
The key responsibilities of the CEA include providing policy inputs on industrial development and foreign trade, conducting analysis of trends in industrial production and releasing statistical information on key economic indicators.
It could not be ascertained immediately when the new CEA would assume office.
According to the ISB website, Subramanian is one of the leading experts in banking, corporate governance and economic policy.
Besides, he was a member of Sebi's standing committees on Alternative Investment Policy, Primary Markets, Secondary Markets and Research.
He obtained his MBA and PhD in Financial Economics at the University of Chicago Booth School of Business under the advice of Professor Luigi Zingales and Professor Raghuram Rajan (former CEA and RBI governor).
The Economic Survey of India is also compiled and released by the CEA. Arvind Subramanian assumed the role in October 2014 and stayed beyond the usual three-year term at the request of union minister Arun Jaitley.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)