Days ahead of presenting an annual report on the Indian economy to the government, C Rangarajan, chairman of Prime Minister Manmohan Singh's Economic Advisory Council, has resigned.
Suresh Tendulkar - a noted economist who had a master's degree from the Delhi School of Economics and Ph.D from Harvard as a Rockefeller Foundation scholar - is taking over as the council's new chair.
Rangarajan, a former governor of the Reserve Bank of India who later became the governor of Andhra Pradesh, is expected to get an important assignment soon, senior officials in Prime Minister's Office said.
An expert on issues like poverty and planning, Tendulkar has been a member of the Prime Minister's Economic Advisory Council and was closely associated with the Indian Statistical Institute in the national capital.
"I am quite bullish about the Indian economy," Tendulkar told IANS, soon after being named the new council chairperson.
"Next week, we will present a detailed report to prime minister. It will give you a fair idea of where our economy stands and where it is heading."