Arvind Panagariya has stepped down as Vice Chairman of the government think tank NITI Aayog. The Columbia University professor will be returning to the U.S. to rejoin academia.
The noted economist, who was appointed to the post by Prime Minister Narendra Modi in January 2015, has written to Mr Modi requesting to be relived by the end of the month as he has not been granted an extension of leave from Columbia University.
Mr Panagariya, 64, told reporters that he had expressed his desire to rejoin academia to the Prime Minister about two months back. He is a Professor of Indian Political Economy at Columbia University.
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His last day in office will be August 31 and he is likely to rejoin the University on September 5.
Prime Minister is the Chairman of the Niti Aayog.
Mr Panagariya holds a Ph. D in Economics from Princeton University and has also worked for the World Bank, International Monetary Fund, World Trade Organisation, and the United Nations Conference on Trade and Development (UNCTAD) in various capacities.
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The economist had recently said that India’s gross domestic product (GDP) could rise to about USD 8 trillion over the next 15 years if the country registers an economic growth of 8% annually.