Kaushik Basu takes charge as chief economic advisor

New Delhi, Dec 8 : Cornell University-educated economist Kaushik Basu Tuesday took charge as the chief economic advisor in the finance ministry, with the rank of a secretary to the government of India for a two-year term.

The key advisory post was vacant after the tenure of incumbent Arvind Virmani ended June 30.

As chief economic advisor, Basu will not only provide key inputs to Finance Minister Pranab Mukherjee in formulating broad policies for the Indian economy, but also virtually author the Economic Survey for the current fiscal that will be tabled in parliament some time in February.

A Padma Bhushan awardee in 2008 and a professor of economics, Basu was the chair of the Department of Economics at the Cornell University in the US. He is an alumnus of St Stephen's College, Delhi University, and completed his Masters and Doctoral studies in Economics from the London School of Economics.