India, world face hard times: new CEA Rajan
29 Aug 2012
India will have to devise a strategy to deal with the global economic situation which faces serious challenges, new chief economic advisor Raghuram G Rajan said today.
Rajan replaced Kaushik Basu as the chief economic advisor to the finance ministry after his appointment as CEA was cleared by the Appointments Committee of Cabinet (ACC) on 10 August.
The ''world economy faces very serious challenges right now and India is no exception ... I hope that over the coming days, I can help in whatever solution we devise," he told newspersons after taking over as CEA in the ministry of finance.
"I am glad to be here," he said, calling this rainy day in Delhi an auspicious one.
The widely known economist started his new stint with an hour-long meeting with finance minister P Chidambaram. He then went to the Planning Commission for a talk with its deputy chairman, Montek Singh Ahluwalia. He is also expected to meet Prime Minister Manmohan Singh.
The position of the CEA has been lying vacant since Kaushik Basu left on completion of his tenure on 31 July.
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