Kaushik Basu World Bank chief economist
- IPL spot-fixing: Chennai Super Kings owner's kin under police scanner
- IPL 2013 LIVE SCORE: Sunrisers Hyderabad vs Rajasthan Royals
- Jessica Lall murder: Actor Shayan Munshi, ballistic expert Manocha to face perjury trial
- BJP tears into UPA govt on 4th anniversary, says it lacks leadership
- BCCI was forced to encash Pune Warriors' bank guarantee: Sanjay Jagdale
The World Bank today appointed Kaushik Basu as its chief economist and Senior Vice President.
Basu (60) will begin his term on October 1, World Bank Group President Jim Yong Kim said in a statement.
Basu, who replaces Justin Yifu Lin, was Chief Economic Adviser in India's Finance Ministry till July.
"Having worked in the Ministry of Finance, in addition to his impressive academic achievements, Kaushik is uniquely suited to help us offer evidence-based solutions and advise to client countries and provide innovative excellence in leading our development research," Kim said.
"Kaushik brings the first hand experience from a developing country and will be a terrific asset to the institution," the World Bank statement added.
Basu, who holds a PhD from the London School of Economics, founded the Centre for Development Economics at the Delhi School of Economics in 1992.
He has also published widely and his contributions to the field span development economics, welfare economics, industrial organisation and public economics.
Raghuram Rajan, Chief Economist of IMF, has replaced Basu as India's Chief Economic Adviser.
India's Planning Commission Deputy Chairman Montek Singh Ahluwalia was also associated with the World Bank. He joined the multilateral institution in 1968 as a Young Professional and then held various positions including Chief of the Income Distribution Division.
Kalpana Kochhar, the Chief Economist for the South Asia Region (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka), is another Indian holding a top position in the World Bank.
- Fixing probe now reaches Bollywood, son of Dara Singh held
- BCCI cashes Pune Warriors guarantee, 'disgusted' Sahara walks out of IPL
- Sreesanth spent Rs 1.95L on clothes, bought friend BlackBerry, paid in cash: Police
- Delhi firm with MoD as client is linked to Pak cyberattacks
- After Infosys, iGATE sacks Phaneesh Murthy for sexual misconduct
- 2 weeks after harassment, Haryana schoolgirls return, cops in tow