Panagariya resigns from NITI Aayog, to return to teaching

The Dollar Business Bureau

Arvind Panagriya has resigned as the Vice Chairman of NITI Aayog, after serving for two-and-a-half years at the country’s revamped planning commission.

He resigned from the post today after heading a meeting.

Panagariya has hinted that he is likely to go back to teaching and could join the Columbia University. He is likely to be relieved from his post on August 31.

NITI (National Institution for Transforming India) Aayog came into effect on January 1, 2015, replacing the Planning Commission. It was created as a premier 'think tank', meant to frame policies for the Indian Government, giving directional as well as policy inputs.

Panagariya was handpicked by Prime Minister Narendra Modi to head the NITI Aayog just after its creation.

Like the previous Planning Commission, the Prime Minister is the Chairman of the Aayog.

Panagariya, has a PhD in economics from Princeton University. He has been a Professor of Economics at the Columbia University. Earlier, he had served as the chief economist at the Asian Development Bank (ADB) and co-director of the Centre for International Economics, University of Maryland, at College Park.

Panagariya has also worked in various capacities with the World Bank, World Trade Organisation (WTO), International Monetary Fund (IMF) and the United Nations Conference on Trade and Development (UNCTAD).