Arvind Subramanian likely to be chief economic adviser

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US based economist Arvind Subramanian is poised to be named as chief economic adviser to prime minister Narendra Modi's government, two sources at the finance ministry said on Friday.

If confirmed, the appointment would bring in a second economist of international renown to a key policy post following the naming of former International Monetary Fund chief economist Raghuram Rajan as central bank chief last year.

The appointment of Subramanian, a senior fellow at the Peterson Institute for International Economics, was recommended by Finance Minister Arun Jaitley. Cabinet-level approval is expected to follow.

"He is likely to be appointed soon," one of the sources said.

Modi stormed to a general election victory in May with a pledge to lift the economy out of its worst slowdown in a quarter of a century and put to work the one million young people who enter the workforce each month.

The nationalist leader has abolished a Soviet-style Planning Commission, but made an otherwise slow start on economic reforms, disappointing some supporters who had hoped that he would take decisive action to promote a recovery.

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