NEW DELHI: The services of Krishnamurthy Subramanian as Executive Director (India) at the International Monetary Fund (IMF) have been terminated, an official statement issued by the goverment read.His recall comes six months before the completion of his three-year tenure.The announcement was made earlier on Friday as per the order dated April 30, 2025.”The Appointments Committee of the Cabinet has approved the termination of services of Dr Krishnamurthy Subramanian as Executive Director (India) at the International Monetary Fund with immediate effect,” an official order issued by the Ministry of Personnel read.Subramanian was appointed to the IMF post in August 2022. Prior to he served as the 17th Chief Economic Advisor (CEA) to the Government of India from 2018 to 2021.A PTI report citing sources claims that, Subramanian is learnt to have raised questions about the IMF’s datasets, which did not go down well in the corridors of the multilateral agency.Besides, PTI reported that sources said, concerns were raised over an “alleged impropriety” relating to the promotion and publicity of his latest book, “India @ 100″Meanwhile, the International Monetary Fund (IMF) on April 22 lowered India’s growth projection for the fiscal year 2025-26 to 6.2 per cent.This reflects a more cautious outlook amid global trade disruptions posed by the reciprocal tariffs by the US and domestic challenges. In its World Economic Outlook (WEO) report for April, it slashed the economic growth rate forecast of almost every economy.In its annual publication, the global body said that the growth outlook for the Indian economy is relatively more stable at 6.2 per cent in 2025 (Fiscal 2025-26).The growth of the Indian economy is supported by private consumption, especially in the rural areas, but this rate is 0.3 percentage points lower than in the January 2025 WEO estimate, impacted by trade tensions and global uncertainties.(With inputs from ANI, PTI)
Source link
