Arvind PanagariyaNew Delhi: Arvind Panagariya resigned as the Vice Chairman of NITI Aayog on Tuesday. The 64-year-old economist took over the post immediately after the erstwhile Planning Commission, a Nehruvian era institution, was restructured and the new body was created.

Panagariya, appointed Vice Chairman of the NITI Aayog in January 2015, disclosed that he has written to Prime Minister Narendra Modi, informing him that his leave was due to expire this month end and it was not possible to extend it beyond that period.

In his resignation letter, Panagariya has also said that he wants to resume his teaching job at Columbia University where he was working as a professor of Indian political economy.

Before NITI Aayog, Panagariya served as the chief economist of the Asian Development Bank and has also worked with the World Bank and the International Monetary Fund in various capacities.

Panagariya was the key-man for the Central Govt. at the recently-concluded G20 meeting in Germany and he had always been a supporter of the Modi government, vocally backing its various reform measures, including the demonetisation.
In March 2012, Pangariya was honoured with Padma Bhushan, the third highest civilian award of the country.

There was no official comment by way of reaction but the development has come in the midst of speculation that there could be a reshuffle in the NITI Aayog where Bibek Debroy, who also is a staunch supporter of Modi and his economics, could be the likely successor.

Chief Economic Advisor Arvind Subramanian, is another name which is roaming for NITI Aayog’s Vice Chairman.