Noted economist Surjit Bhalla resigns from Modi’s Economic Advisory Council


Noted economist Surjit S. Bhalla resigned from from his position as the part-time Member of the Economic Advisory Council to the Prime Minister of India, Narendra Modi, which is headed by NITI Aayog member Bibek Debroy.

According to reports, Bhalla has also been critical of the Reserve Bank of India (RBI) keeping interest rates elevated and overestimating inflation expectations. He earlier stated, in a column on newspaper Indian Express that he found it “inappropriate for NITI Aayog to be directly involved in the presentation of statistical data by the CSO (Central Statistics Office).”

The process in which the statistical data released in the presence of NITI Aayog on November 28 showing growth during the NDA government higher than in the UPA period was criticized by economists. They argued that calculation of GDP back series being a technical exercise should have best left to the CSO.

It hasn’t been clear why he has resigned yet.

Earlier, RBI governor Urjit Patel resigned from his post on Monday ‘on account of personal reasons’.

(With inputs from Indian Express)

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