Professor Rajan named prime minister’s economic advisor

New Delhi, Nov 3 (IANS) Raghuram Rajan, professor of economics at the University of Chicago, was Monday named honorary economic advisor to Prime Minister Manmohan Singh.

Rajan, a former chief economist of the International Monetary Fund (IMF), will hold the rank of secretary, Government of India.

He was earlier the chairman of a high-powered committee the prime minister set up on financial reforms, that was tasked to frame a series of recommendations to make India a financial powerhouse over the next five years.

Rajan secured a doctorate from the Massachusetts Institute of Technology (MIT) in 1991 after a master’s in business administration from the Indian Institute of Management at Ahmedabad and a bachellor’s degree in electrical engineering from the Indian Institute of Technology in New Delhi.

He was also a visiting professor of finance at the Kellogg School, Northwestern University, and Fischer Black visiting professor at MIT’s Sloan School of Management.

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