Economist Surjit Bhalla resigns from Prime Minister’s Economic Advisory Council

Guwahati: Surjit Bhalla, an eminent economist and columnist, who was associated with the Economic Advisory Council to the Prime Minister as a part-time member, have announced his resignation on Tuesday. His resignation is effective since December 1.

Tweeting his decision through the micro-blogging website Twitter, Bhalla said, "I resigned as part-time member of PMEAC on December 1."

The Economic Advisory Council to the Prime Minister is headed by Niti Aayog member Bibek Debroy. The advisory council also includes economists like Rathin Roy, Ashima Goyal and Shamika Ravi.

Bhalla’s resignation announcement came a day after RBI governor Urjit Patel stepped down as RBI governor. Urjit, stating the reason for his resignation as personal reasons, had stated in his letter, “On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management have been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future.”

Responding to the resignation letter of Patel, Finance Minister Arun Jaitley tweeted: “I wish Dr. Patel all the very best and many more years of public service. The Government acknowledges with a deep sense of appreciation the services rendered by Dr. Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of The RBI. It was a pleasure for me to deal with him and benefit from his scholarship.”

Whatever is said or speculated, one thing is certain that the recent bitter relation between the government and the RBI has contributed a lot towards compelling Patel to step down from his position.

Also read: Reserve Bank of India (RBI) Governor Urjit Patel Resigns