Economist Surjit S Bhalla was on Tuesday appointed as the Executive Director for India at the International Monetary Fund (IMF), an official order said.
His appointment has been cleared by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.
Bhalla’s appointment comes at a time when India is facing an economic slowdown; and the government is struggling hard to revive it. In fact, the IMF itself is likely to come out with a country report for India this year. It is the executive director who replies to the IMF observation in the country report.
The IMF recently cut India’s economic growth rate to 7 percent, from its earlier estimate of 7.3 percent.
Bhalla, who did his PhD in Economics from Princeton University.
He favoured Finance Minister Nirmala Sitharaman’s decision to cut the corporation tax rate.
The ACC approved the appointment of Bhalla for a period of three years from the date of assumption of charge of the post or until further orders, whichever is earlier, the order said.