C Rangarajan resigns as PM's economy advisory

The chairman of PM Manmohan Singh's Economic Advisory Council, C Rangarajan, has resigned and is being nominated to the upper house of Parliament, officials said.

The Chairman of Prime Minister Manmohan Singh's Economic Advisory Council, C. Rangarajan, has resigned and is being nominated to the upper house of Parliament, officials said on Friday.

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Rangarajan, a former central bank governor and a respected economist, has been a key economic adviser to Singh for the past four years.

"Yes he has resigned and orders have been issued to appoint Suresh Tendulkar to head the council," a senior member of the advisory council, who did not wish to be identified, told Reuters.

The body is due to present its economic review for 2008/09 next week.