Arvind Panagariya resigns as the vice chairman of Niti Aayog

NITI Ayog Vice Chairman Arvind Panagriya quits

The Indian-born, USA -educated economist was named by Modi in January 2015 as the first manager of the Policy Commission, which replaced an earlier body responsible for drawing up Soviet-style five-year economic plans. "The PM has agreed after listening to me". However, he will continue to serve an s the vice-chairman of NITI Aayog till August 31.

According to the reports, which could not immediately be confirmed, Modi had accepted Panagariya's resignation.

Panagariya has reportedly said that he will return to academia and August 31 is expected to be his last day in office. "Henry Kissinger returned to Harvard after his leave was not extended", he added.

Panagariya said he expected a successor to be named.

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"Many states adopted our land leasing law bill". Our point is why should we appoint people who have one foot overseas, one here. "If I were at 40, then I would have got [a] job anywhere. the kind of job I have at Columbia is nearly impossible to get at this age", he said while addressing reporters in New Delhi. "There is no retirement and one can work till his or her body and brain functions".

Besides serving at the ADB, Panagariya has also been part of the World Bank, International Monetary Fund, World Trade Organisation, and the United Nations Conference on Trade and Development in various capacities at different times. The Economist magazine has described his book, Why Growth Matters, (with Jagdish Bhagwati) as "a manifesto for policymakers and analysts". The Government of India, in keeping with its reform agenda, constituted NITI Aayog to replace the Planning Commission. It also recommended minimal government intervention in agriculture and replacing the minimum support price for farmers with a deficiency payment. But we were against policies of Niti Aayog on labour laws and disinvestment of PSUs. There have also been murmurs of dissatisfaction in the top government circles about the performance of the NITI Aayog under the leadership of Panagariya, sources said.

A seven-year "Strategy" and 15-year "Vision" for India have yet to be published.

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