Gangopadhyay replaces Shome as adviser to finance minister

15 Jan 2008

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Mumbai: The government has appointed Shubhashis Gangopadhyay as adviser to the finance minister, an official statement said today.

Gangopadhyay assumed charge of office today after his appointment was approved by the appointments committee of the cabinet. He will serve in the rank and pay of the secretary to the Government of India.

Gangopadhyay, a renowned economist with a doctoral degree from Cornell University in the US, takes over from Parthasarthi Shome, who resigned last month.

Gangopadhyay was currently working as director, India Development Foundation. Bertil Danielsson Guest Professor of the Universities of Gothenburg and Stockhom, Gangopadhyay is the chief editor of the Journal of Emerging Market Finance and associate editor of Journal of Financial Stability.

He is the president, Society for the Promotion of Game Theory and its Applications and a member of the CAF Board of Advisors, Indian School of Business, Hyderabad, Bankruptcy Task Force, IPD, Columbia University, International Advisory Board, LEFIC, Copenhagen Business School, Denmark, S Asia Chief Economists' Advisory Council and the World Bank.

He was earlier professor at Indian Statistical Institute and has distinguished teaching career, including at the University of Gothenburg, Sweden, Rutgers University, USA and University of Southern California, USA.

Parthasarathi Shome is the man credited, and often criticised, for the taxes introduced in the last three years. Shome is also said to be the brain behind the introduction of the fringe benefit tax and banking cash transaction tax.

While Shome is learnt to have cited personal reasons while submitting his papers, sources said, his inability to get along with his peers in recent months was responsible for his decision to exit before his contract, which was recently renewed, expired in October 2009.

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