All you need to know about Arvind Panagariya, vice-chairman of NITI Aayog

Mumbai: Government has named Arvind Panagariya as the new vice-chairman of NITI Aayog, PM Narendra Modi’s Policy Commission. Arvind Panagariya will have a pivotal role in co-ordinating economic strategy and hold cabinet rank as well.

Reports state that Arvind Panagariya has been the professor of economics and co-director of the Center for International Economics, University of Maryland at College Park. The 64-year-old economist was also the chief economist of the Asian Development Bank.

Reuters also stated that Panagariya has previously advocated in loosening of fiscal deficit targets.  His market-friendly economic strategy has also proved to be a major element in shaping Narendra Modi's economic outlook.

Being a well-experienced economist, Arvind Panagariya stressed on the need for growth in social spending in India.