Kaushik Basu ended his tenure as India’s Chief Economic Advisor on 31 July 2012. A professor from Cornell University , he held the position for two and a half years at the North-Block, New Delhi.
Prior to his stint as the economic advisor, Basu was the Chairman of the Department of Economics in the year 2009 and between 2006-9 he was the Director of the Center for Analytic Economics at Cornell. He at present is the fourth President of the Human Development and Capabilities Association, which was founded by Amartya Sen.
He has also held advisory posts with the ILO, the World Bank, the Reserve Bank of India and was, for several years, member of the steering committee of the Expert Group of Development Issues set up by the Swedish Government. At present, he is a member of the Board of Directors of the Exim Bank of India.
As a Fellow of the Econometric Society, the Ex chief economic advisor published widely in the areas of Development Economics, Industrial Organization, Game Theory and Welfare Economics. His books include Analytical Development Economics , Prelude to Political Economy: A Study of the Social and Political Foundations of Economics and Of People, Of Places: Sketches from an Economist’s Notebook.
In the month of May, 2008 he was awarded, the Padma Bhushan, by the President of India, which is one of India’s highest civilian awards.
As a pass out from the St. Stephens College and the London School of Economics, this stalwart saw various fluctuations in the economic background of this country. Whilst stepping down , he stated that the inflation in India is expected to dip down by September 2012, by seven percent. Basu also stated that India needs to tackle corruption to be able to tackle bigger issues.
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