Outlining some of his key achievement, the minister said Subramanian's four Economic Surveys "have been judged by several independent critics as some of the best ever produced". His reasons were personal but extremely important to him.
Arun Jaitley further confirmed that Subramanian's term will not be extended and he will be moving to the United States, former Finance Minister Arun Jaitley confirmed on Wednesday.
Jaitley suggested that the government was open to granting Subramanian an extension; he had already been given a one-year extension last October when his initial three-year term came to an end.
Subramanian, 59, joined as the chief economic adviser on October 16, 2014 for a three-year term, which was later extended by a year.
Jaitley, who is now recuperating from a kidney ailment, said that he spoke to Subramanian over a video call and requested him to continue for some more time but due to certain pressing family commitments, he made a decision to quit.
"He left me with no option but to agree with him". He took charge as CEA in October 2014, succeeding Raghuram Rajan, who had moved to the Reserve Bank of India as Governor. "CEA job most rewarding, fulfilling, exciting I have ever had", he tweeted.
In his Facebookpost, the Union Minister said he will personally miss Arvind Subramanian's dynamism, energy, intellectual ability and ideas. But I know that his heart is very much here ...
Mr Subramanian built up a "strong team of both insiders and outsiders", said the minister.
Subramanian is also the author of two books, India's Turn: Understanding the Economic Transformation and Eclipse: Living in the Shadow of China's Economic Dominance.
Subramanian did his graduation in Economics from Delhi's St Stephens College and got an MBA from the Indian Institute of Management (IIM)-Ahmedabad.
When he became the chief economic adviser in 2014, the post had been lying vacant for around a year.
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