Arvind Panagariya has resigned as the Vice Chairman of Niti Ayog and will return to teaching at Columbia University in the United States. The exact reasons for his decision were not yet known. Arvind seems to be following the same steps as that of former RBI Governor Raghuram Rajan who returned to US as a professor after he was denied a second terms as RBI chief. Arvind who graduated from Princeton University with PhD in Economics and a professor at Colombia university was appointed as Niti Ayog’s Chairman after scrapping the Planning Commission when Modi took over as the Prime Minister. His resignation without any specific reason gives suspicion on the effectiveness of the Niti Ayog.
Former RBI Governor Raghuram Rajan was critical about demonetization and was denied another term. It was after his departure that Modi went ahead with demonetization plan. Only time will tell us if something similar happens again with the departure of Arvind Panagariya.