Krishnamurthy Subramanian: Difference between revisions

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{{Use Indian English|date=December 2018}}
{{Use Indian English|date=December 2018}}
{{Use dmy dates|date = May 2019}}
{{Use dmy dates|date = May 2019}}
{{Indian name|Subramanian|Krishnamurthy}}
{{Infobox officeholder
{{Infobox officeholder
| office = 17th{{nbsp}}[[Chief Economic Adviser to the Government of India]]
| office             = 17th{{nbsp}}[[Chief Economic Advisor to the Government of India]]
| honorific_prefix =
| 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
| 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
| alt                 = Krishnamurthy Subramanian
| primeminister = [[Narendra Modi]]
| primeminister       = [[Narendra Modi]]
| minister = [[Nirmala Sitharaman]]
| minister           = [[Nirmala Sitharaman]]
| predecessor = [[Arvind Subramanian]]
| predecessor         = [[Arvind Subramanian]]
| successor = [[V Anantha Nageswaran]]
| successor           = [[V. Anantha Nageswaran]]
| birth_date =  
| birth_date         = {{Birth date and age|1971|05|05|df=yes}}
| birth_place = [[Bhilai]], [[Chhattisgarh]]
| birth_place         = [[Bhilai]], [[Chhattisgarh]], India
| nationality = Indian  
| nationality         = [[Indian people|Indian]]
| profession = [[Economist]]  
| profession         = [[Economist]]
| alma_mater = [[Indian Institute of Technology, Kanpur]] ([[BTech]])<br />[[Indian Institute of Management, Calcutta]] ([[MBA]])<br />[[University of Chicago Booth School of Business|University of Chicago]] ([[MBA]], [[PhD]])
| alma_mater         = {{Unbulleted_list|[[IIT Kanpur|Indian Institute of Technology Kanpur]]<br>{{small|([[Bachelor of Technology]])}}|[[Indian Institute of Management Calcutta]]<br>{{small|([[Master of Business Administration]])}}|[[University of Chicago Booth School of Business]]<br>{{small|([[Doctor of Philosophy]])}}}}
| term_start = 7 December 2018
| term_start         = {{Start date|2018|12|07|df=yes}}
| term_end = 6 December 2021 <ref>{{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 }}</ref>
| term_end           = {{End date|2021|12|06|df=yes}} <ref>{{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 }}</ref>
| module = {{Infobox economist| embed = yes
| module             = {{Infobox economist| embed = yes
| doctoral_advisor = [[Luigi Zingales]]<br />[[Raghuram Rajan]]
| doctoral_advisor   = {{Unbulleted_list|[[Luigi Zingales]]|[[Raghuram Rajan]]}}
| institutions = [[Indian School of Business]]<br />[[Goizueta Business School]], [[Emory University]]
| institutions       = {{Unbulleted_list|[[Indian School of Business]]|[[Goizueta Business School]], [[Emory University]]}}
| field = [[Financial economics]]  
| 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.<ref>{{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}}</ref> He has been appointed to the post of India's Executive Director at the [[International Monetary Fund|IMF]], with effect from November 1, 2022 and served their 4 May 2025 .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.
'''Krishnamurthy Venkata Subramanian''' is an Indian economist who served as the 17th [[Chief Economic Adviser to the Government of India]]. Professor 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.<ref>{{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}}</ref> He has been appointed to the post of India's Executive Director at the [[International Monetary Fund|IMF]], with effect from November 1, 2022


== Education ==
== Education ==
He was born in [[Bhilai]], [[Chhattisgarh]] in a Tamil family. He did his schooling at MGM Senior Secondary School Sector VI  Bhilai. He is an alumnus of the [[Indian Institute of Technology Kanpur|Indian Institute of Technology, Kanpur]] where he studied [[electrical engineering]] and holds a [[Master of Business Administration]] from [[Indian Institute of Management Calcutta|IIM Calcutta]] where he was awarded gold medal and placed in the Institute’s Roll of Honor .<ref>{{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}}</ref> 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.<ref>{{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}}</ref> He holds [[Financial risk management|Financial Risk Management]] specialization from [[Global Association of Risk Professionals|GARP]].
Subramanian was born in [[Bhilai]], [[Chhattisgarh]] in a [[Tamils|Tamil]] family. He completed his schooling from M.G.M. Senior Secondary School, Sector-6, Bhilai. He is an alumnus of the [[IIT Kanpur|Indian Institute of Technology Kanpur]] where he studied [[electrical engineering]] and holds a [[Master of Business Administration]] from [[Indian Institute of Management Calcutta|IIM Calcutta]], where he was awarded gold medal and placed in the Institute's Roll of Honor .<ref>{{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}}</ref> 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.<ref>{{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}}</ref>


== Career ==
== 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 [[Reserve Bank of India|RBI]], and was also a member of Uday Kotak Committee on Corporate Governance in [[Securities and Exchange Board of India|SEBI]]. He has worked with [[JPMorgan Chase]], [[ICICI Bank]] and [[Tata Consultancy Services]].  
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 [[Reserve Bank of India|RBI]], and was also a member of Uday Kotak Committee on Corporate Governance in [[Securities and Exchange Board of India|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.<ref>{{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}}</ref>
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.<ref>{{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}}</ref>


He has academically been a part of the finance faculty at [[Goizueta Business School]] at [[Emory University]] in the United States of America.<ref name=":1">{{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|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}}</ref><ref name=":0">{{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|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}}</ref> He is a member of [[American Finance Association]].  
===Academic career===
Subramanian taught at the [[Goizueta Business School]] at [[Emory University]] in the [[United States]] from 2005 to 2010.<ref name=":1">{{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}}</ref><ref name=":0">{{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}}</ref> He is a member of [[American Finance Association]].


Subramanian is currently a [[Professor]] at the [[Indian School of Business]]. He was awarded "Professor of the Year" by ISB for courses that he taught for the Class of 2019.<ref>{{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}}</ref>
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.<ref>{{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}}</ref><ref>{{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}}</ref>


As the [[Chief Economic Advisor to the Government of India|Chief Economic Advisor]], Dr. Subramanian authored [[Economic survey of India|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 [[Behavioral economics|Behavioural Economics]] and Thalinomics captured the public imagination.<ref>{{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}}</ref>
===Chief economic advisor===
As the [[Chief Economic Advisor to the Government of India|Chief Economic Advisor]] (CEA), Subramanian authored [[Economic Survey of India|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 [[Behavioral economics|Behavioural Economics]] and Thalinomics captured the public imagination.<ref>{{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}}</ref>


Subramanian was inducted into the [[Fifteenth Finance Commission|Fifteenth{{Nbsp}}Finance Commission's]] [[Fifteenth Finance Commission#Advisory council|advisory council]] in May 2019.<ref>{{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}}</ref><ref>{{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]]}}</ref>
Subramanian was inducted into the [[Fifteenth Finance Commission|Fifteenth{{Nbsp}}Finance Commission's]] [[Fifteenth Finance Commission#Advisory council|advisory council]] in May 2019.<ref>{{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}}</ref><ref>{{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]]}}</ref>


Dr Subramanian has been conferred the Distinguished Alumnus award by his alma maters  [[IIT Kanpur|IIT-Kanpur]] and [[Indian Institute of Management Calcutta|IIM-Calcutta]].<ref>{{Cite web |url=https://twitter.com/iitkanpur/status/1185183350354432002 |access-date=2022-06-17 |website=Twitter |language=en}}</ref>  
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 [[2016 Indian banknote demonetisation|Government of India's banknote demonetisation policy]] in 2016.<ref>{{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}}</ref><ref>{{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}}</ref><ref name=":1" />
 
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.<ref>{{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}}</ref><ref>{{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}}</ref><ref>{{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}}</ref><ref>{{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}}</ref>


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 [[2016 Indian banknote demonetisation|Government of India's banknote demonetisation policy]] in 2016.<ref>{{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}}</ref><ref>{{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}}</ref><ref name=":1" />
Subramanian has been conferred the Distinguished Alumnus award by his alma maters  [[IIT Kanpur]] and [[Indian Institute of Management Calcutta|IIM Calcutta]].<ref>{{Cite web |url=https://twitter.com/iitkanpur/status/1185183350354432002 |access-date=2022-06-17 |website=Twitter |language=en}}</ref>


== References ==
== References ==
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* {{Commons category-inline|Krishnamurthy Subramanian}}
* {{Commons category-inline|Krishnamurthy Subramanian}}
* [https://www.isb.edu/sites/default/files/CV_Krishnamurthy_Subramanian_July2018.pdf Krishnamurthy Subramanian] [[Curriculum Vitae]]
* [https://www.isb.edu/sites/default/files/CV_Krishnamurthy_Subramanian_July2018.pdf Krishnamurthy Subramanian] [[Curriculum Vitae]]
{{s-start}}
{{s-gov}}
{{s-bef|before=[[Arvind Subramanian]]}}
{{s-ttl|title=[[Chief Economic Adviser to the Government of India|Chief Economic Adviser of India]]|years=2018–2021}}
{{s-aft|after=[[V. Anantha Nageswaran]]}}
{{s-end}}


{{authority control}}
{{authority control}}


{{Ministry of Finance (India)}}
{{Ministry of Finance (India)}}
{{DEFAULTSORT:Subramanian, Krishnamurthy}}
{{DEFAULTSORT:Subramanian, Krishnamurthy}}
[[Category:Living people]]
[[Category:1971 births]]
[[Category:People from Bhilai]]
[[Category:20th-century Indian economists]]
[[Category:20th-century Indian economists]]
[[Category:Living people]]
[[Category:21st-century Indian economists]]
[[Category:21st-century Indian economists]]
[[Category:IIT Kanpur alumni]]
[[Category:IIT Kanpur alumni]]
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[[Category:University of Chicago Booth School of Business alumni]]
[[Category:University of Chicago Booth School of Business alumni]]
[[Category:University of Chicago alumni]]
[[Category:University of Chicago alumni]]
[[Category:Academic staff of the Indian School of Business]]
[[Category:Chief Economic Advisers to the Government of India]]
[[Category:Chief Economic Advisers to the Government of India]]
[[Category:Indian School of Business faculty]]
[[Category:1971 births]]
[[Category:People from Bhilai]]

Latest revision as of 08:53, 27 June 2025


In this Indian name, the name Krishnamurthy is a patronymic, and the person should be referred to by the given name, Subramanian.
Krishnamurthy Subramanian
Krishnamurthy Subramanian
17th Chief Economic Advisor to the Government of India
In office
7 December 2018 (2018-12-07) – 6 December 2021 (2021-12-06) [1]
Prime MinisterNarendra Modi
MinisterNirmala Sitharaman
Preceded byArvind Subramanian
Succeeded byV. Anantha Nageswaran
Personal details
Born (1971-05-05) 5 May 1971 (age 55)
Bhilai, Chhattisgarh, India
NationalityIndian
Alma mater
ProfessionEconomist
Academic career
Institutions
FieldFinancial economics
Doctoral
advisor
2=

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.[2] He has been appointed to the post of India's Executive Director at the IMF, with effect from November 1, 2022 and served their 4 May 2025 .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[edit | edit source]

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 .[3] 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.[4]

Career[edit | edit source]

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.[5]

Academic career[edit | edit source]

Subramanian taught at the Goizueta Business School at Emory University in the United States from 2005 to 2010.[6][7] 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.[8][9]

Chief economic advisor[edit | edit source]

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 US$5 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.[10]

Subramanian was inducted into the Fifteenth Finance Commission's advisory council in May 2019.[11][12]

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.[13][14][6]

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.[15][16][17][18]

Subramanian has been conferred the Distinguished Alumnus award by his alma maters IIT Kanpur and IIM Calcutta.[19]

References[edit | edit source]

  1. ↑ Choudhary, Shrimi (8 October 2021). "CEA Subramanian to leave finance ministry, will return to academia". Business Standard India.
  2. ↑ "Prof K Subramanian". www.iitk.ac.in. Retrieved 14 June 2022.
  3. ↑ "Annual Convocation 2021 | IIM Calcutta". www.iimcal.ac.in. Retrieved 14 June 2022.
  4. ↑ "Kauffman Dissertation Fellows". www.kauffman.org. Archived from the original on 9 December 2018. Retrieved 7 December 2018.
  5. ↑ "ISB professor Krishnamurthy Subramanian appointed as new Chief Economic Adviser". The Indian Express. 7 December 2018. Archived from the original on 7 December 2018. Retrieved 7 December 2018.
  6. ↑ 6.0 6.1 "Krishnamurthy Subramanian Appointed As The Next Chief Economic Adviser". BloombergQuint. 7 December 2018. Archived from the original on 9 December 2018. Retrieved 7 December 2018.
  7. ↑ "Govt appoints Krishnamurthy Subramanian as Chief Economic Adviser for 3 years". Moneycontrol. 7 December 2018. Archived from the original on 7 December 2018. Retrieved 7 December 2018.
  8. ↑ "Subramanian Krishnamurthy". www.isb.edu. Retrieved 5 February 2023.
  9. ↑ "ISB awards "Professor of the Year" to Krishnamurthy Subramanian". thehindubusinessline.com. 6 April 2019.
  10. ↑ "Chief Economic Advisor to Govt. of India - Dr. K V Subramanian". www.greatlakes.edu.in. Retrieved 14 June 2022.
  11. ↑ "Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory Council of 15th Finance Commission". Business Standard. Business Standard Ltd. Asian News International. 3 May 2019. OCLC 496280002. Archived from the original on 1 September 2020. Retrieved 10 May 2019.
  12. ↑ "CEA K Subramanian joins Finance panel's advisory council". The Quint. New Delhi. Indo-Asian News Service. 3 May 2019. Archived from the original on 1 September 2020. Retrieved 10 May 2019.
  13. ↑ "Will Black Be Back? Why demonetisation will be revolutionary in India's fight against corruption". Times of India Blog. 11 November 2016. Archived from the original on 10 December 2018. Retrieved 7 December 2018.
  14. ↑ Subramanian, Krishnamurthy (23 November 2016). "Demonetisation: Are the poor really suffering?". Livemint. Archived from the original on 9 December 2018. Retrieved 7 December 2018.
  15. ↑ Srivats, K. R. (25 August 2022). "Former CEA KV Subramanian appointed as Executive Director at IMF". www.thehindubusinessline.com. Retrieved 5 February 2023.
  16. ↑ "Govt appoints former CEA K Subramanian as Executive Director for India at IMF". livemint.com. 25 August 2022. Retrieved 5 February 2023.
  17. ↑ "Former CEA KV Subramanian appointed as executive director for India at IMF". Business Today. 25 August 2022. Retrieved 5 February 2023.
  18. ↑ "India abruptly removes IMF board nominee Krishnamurthy Subramanian". timesofindia.indiatimes.com. 4 May 2025. Retrieved 7 May 2025.
  19. ↑ Twitter https://twitter.com/iitkanpur/status/1185183350354432002. Retrieved 17 June 2022. {{cite web}}: Missing or empty |title= (help)

External links[edit | edit source]

Government offices
Preceded by
Arvind Subramanian 		Chief Economic Adviser of India
2018–2021 		Succeeded by
V. Anantha Nageswaran


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