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Former Chief Economic Advisor Krishnamurthy V Subramanian has been awarded the prestigious Alumni Award for Professional Achievement by the University of Chicago, marking the first time an Indian economist has received this honour since 1941.
Key Points
- Krishnamurthy Subramanian receives the University of Chicago’s Alumni Award for Professional Achievement.
- Subramanian is the first Indian economist to be honoured with the award since its inception in 1941.
- The University of Chicago recognised Subramanian’s role as the ‘principal economic voice during the COVID-19 crisis’.
- His articulation of a V-shaped economic recovery was cited as a critical factor in anchoring confidence in India’s resilience.
The University of Chicago on Friday said it has conferred its prestigious Alumni Award for Professional Achievement to India’s former chief economic adviser Krishnamurthy V Subramanian.
Subramanian is the first Indian economist to receive the honour since its inception in 1941, placing him in an elite global cohort that includes Nobel laureates and intellectual giants such as Paul Samuelson, Gary Becker, Claudia Goldin, Carl Sagan, and Philip Kotler, the University of Chicago said in a statement.
Recognition For Work Done In India
Speaking on the occasion, Subramanian said, “To be included in this academic lineage is profoundly humbling. What makes it especially meaningful is that this recognition is for work done from India and for India. To follow, in my modest way, the path of pioneers like C V Raman, Homi J. Bhabha, Vikram Sarabhai and M S Swaminathan is a privilege.”
Subramanian’s Role During The COVID-19 Crisis
The University described Subramanian as the ‘principal economic voice during the COVID-19 crisis,’ highlighting his Economic Surveys as landmark documents that shaped India’s policy response, anchored in competitive markets, policy autonomy, and inclusive growth.
The University said his early articulation of a V-shaped economic recovery during the pandemic was cited as a critical factor in anchoring confidence in India’s resilience at a time of global uncertainty.
Significance Of The Award
Notably, the award recognises work carried out from India and for India, marking a significant departure from the largely Western institutional contexts of past recipients.
As CEA (2018-2021), Subramanian authored three Economic Surveys and helped shape macroeconomic strategy during one of the most volatile periods in modern economic history, the statement said.
Last year in May, in an unexpected move, the government had terminated the services of K V Subramanian as the executive director at the International Monetary Fund (IMF) six months ahead of his three-year tenure.
The reasons for Subramanian’s exit have not been officially announced.
Later in August last year, former Reserve Bank of India Governor Urjit Patel was appointed as the Executive Director of the International Monetary Fund (IMF).
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