Though both the PMO and Panagariya’s office declined to comments, media reports suggest that an official announcement could be made in the next 48 hours.
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Though no formal confirmation has been received, it is widely touted that Arvind Panagariya, chairman, NITI Aayog, will be the next governor of the Reserve Bank of India.
Panagariya is the chief of the Centre’s main economic advisory body and negotiator of the India’s Group of 20 summit, says The Indian Express.
The wait to find out the name of Raghuran Rajan is about to come to an end soon. Gokarn is, an Executive Director at the International Monetary Fund, a position also previously held by Mohan. He has experience of working with Asian Development Bank, UNCTAD, World Bank, IMF and WTO and has also been awarded Padma Bhushan by Government of India.
Pangariya, who is said to have been mentored by noted economist Jagdish Bhagwati, has been a vocal supporter of various economic policies of Narendra Modi, including as Prime Minister and before that as Chief Minister of Gujarat.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister and the same process is likely to be followed this time.
With reports of Panagariya taking over from Raghuram Rajan doing the rounds, we take a look at eight recent things the renowned economist has said. It is widely expected that the new governor will become an Officer on Special Duty (OSD) in the central bank to allow for a transition period.
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The term of outgoing RBI chief Raghuram Rajan ends in early September.
