"Honoured To Be Appointed By PM To NITI Aayog"

NEW YORK: Indian-American economist Arvind Panagariya has said that he is "honoured" to be appointed 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.

Panagariya is the professor of economics and the Jagdish Bhagwati 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 assignment 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 government's first budget to boost capital spending even at the risk of a higher fiscal deficit.

He has earlier worked with various international bodies like World Bank, IMF and Asian Development Bank (ADB).

Holding a Ph.D degree in Economics from Princeton University, Panagariya has also worked for the World Trade Organization and the United Nations Conference on Trade and Development (UNCTAD) in various capacities.

READ MORE: NITI Aayog Replaces Planning Commission; Modi Assures More Say For States

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