Govt ends K Subramanian's role as India's IMF Executive Director
The Indian government has terminated Krishnamurthy Subramanian's role as Executive Director at the IMF, effective immediately. Subramanian, who was appointed in August 2022, previously served as Chief Economic Advisor to India. This decision coincides with the IMF's recent downgrade of India's growth projection for fiscal 2025-26 to 6.2%, amid global trade disruptions and domestic challenges.
New Delhi [India], May 4 (ANI): An official statement from the government announced that Krishnamurthy Subramanian's role as Executive Director (India) at the International Monetary Fund (IMF) has been ended.
The declaration was issued earlier on Friday according to the directive 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 took on the role at the IMF in August 2022. Before this, he was the 17th Chief Economic Advisor to the Indian government from 2018 to 2021.
On April 22, the International Monetary Fund (IMF) reduced India's growth forecast for the fiscal year 2025-26 to 6.2 percent. This adjustment indicates a more conservative perspective due to global trade disruptions caused by reciprocal tariffs from the US and domestic issues.
In its April World Economic Outlook (WEO) report, the IMF lowered the economic growth predictions for nearly all economies.
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).
Private consumption, particularly in rural areas, is bolstering the Indian economy's growth, although this rate is 0.3 percentage points less than the January 2025 WEO forecast due to trade tensions and global uncertainties. (ANI)