New Delhi, Nov 15, : Next year’s Union Budget may be a strong one for women power.The economic policy recommendations could come from Nirmala Sitharaman, Finance Minister, at the top.She will be ably assisted by a female Chief Economic Advisor (CEA). The process of selection of the new CEA, which is underway now, has participation from more women this year with a strong chance that the country for the first time may have a dual combination of a woman FM and CEA guiding the Budget making process for 2022-23.
This year, more women participated in the selection process for the new CEA.There is a strong possibility that the country will have a double combination of a CEA and FM to guide the Budget making process in 2022-23.
Sources said that three names are being bandied about in the corridors of power.According to sources, three names are being floated in the corridors for power.
These include Dr Pami Dua, Professor at Delhi School of Economics; Poonam Gupta, Director General of the National Council of Applied Economic Research (NCAER) and Gita Gopinath, chief economist at the IMF, who vacates her office in January 2022 making her available for assignment in India.These are Dr Pami Dua (Professor at Delhi School of Economics), Poonam Gupta (Director General of the National Council of Applied Economic Research) and Gita Getinath, chief economist at IMF.She will be leaving her office in January 2022 to make her available for assignments in India.
The government has invited applications for the post of CEA which will fall vacant next month (December 7) as present incumbent K V Subramanian completes his three-year tenure.
The government is inviting applications for the CEA post, which will be vacant next month (December 7th), after K V Subramanian’s three-year tenure.Subramanian has said that he will be leaving the finance ministry to return to academia following the completion of his tenure.
Subramanian stated that he will leave the finance ministry in order to return to academia after his tenure is over.
Sources said that though the applications invited from the Department of Economic Affairs are valid till next week, some of the candidates already identified by it may get preference and it is here that the chances of getting the first woman CEA get stronger.
Sources claim that although the Department of Economic Affairs invites applications until next week, some of those already identified may be given preference.This is where the chances of getting the first female CEA increase.
Sources also said that the current Principal Economic Advisor Sanjeev Sanyal may emerge as the dark horse for the position as he has been with the government for some time and is aligned to its thinking that would hold the key to framing next year’s Economic Survey.Sources suggest that Sanjeev Sanyal, the current Principal Economic Advisor, could be the dark horse.
He has been with government for some time and would align to the government’s thinking.
With regard to women candidates, Dr Pami Dua was picked by the Modi government in 2016 as the first woman member of the RBI’s all powerful Monetary Policy Committee (MPC) for four years.
In 2016 Dr Pami Dua, a woman candidate for the RBI’s powerful Monetary Policy Committee (MPC), was selected by the Modi government as its first female member.She served the entire four-year term.
Poonam Gupta, on the other hand, was the RBI Chair Professor at the National Institute of Public Finance and Policy and was recently appointed as one of the seven members of the reconstituted Economic Advisory Council to the Prime Minister (EAC-PM).Poonam Gupta was, however, the RBI Chair Professor at National Institute of Public Finance and Policy and was just appointed one of seven members of the reconstituted Economic Advisory Council of the Prime Minister (EAC–PM).
The name of Gita Gopinath, 50, is also doing the rounds over her strong India connections and talks on pandemic economics where India’s role has been lauded.Gita Gopinath (50) is also making the rounds due to her strong India connections as well as talks on pandemic economies where India’s role was lauded.
The only drawback in her candidature comes from her holding US citizenship.Her US citizenship is the only problem with her candidacy.
In these circumstances, sources said that Sanyal could be the right candidate.Sources suggest that Sanyal might be the right choice in these circumstances.
But as the budget is already round the corner, there is also thinking that the government delay the release of the Economic Survey 2021-22, till the appointment of the CEA is completed and the person is able to oversee the survey.The budget is almost here, so it is possible that the government delays the release of the Economic Survey 2021-22 until the CEA has been appointed and the person is able oversee the survey.
However, this would mean that Budget announcements may come without a survey, an unprecedented event.This would mean that Budget announcements could be made without the survey, which is a rare event.
The process of appointing the CEA involves vetting of candidates by a search committee which will then shortlist at least three candidates whose names will go for approval before the Appointments Committee of the Cabinet headed by the Prime Minister.The process for appointing CEA requires the vetting of candidates by an independent search committee.
After that, the search committee will shortlist at most three candidates who will be approved by the Appointments Commission of the Cabinet headed the Prime Minister.
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