Economist Bibek Debroy steps down as GIPE chancellor, mails Ajit Ranade
In an email addressed to Ranade, who is also an eminent economist, Debroy said he is stepping down from his post with immediate effect
Noted economist Bibek Debroy on Friday resigned as chancellor of the Pune-based Gokhale Institute of Politics and Economics (GIPE), a day after the Bombay High Court extended interim relief to vice-chancellor Ajit Ranade, who was earlier removed from his post.
In an email addressed to Ranade, who is also an eminent economist, Debroy said he is stepping down from his post with immediate effect.
Milind Deshmukh, secretary, Servants of India Society (SSI), confirmed Debroy has rendered his resignation as chancellor of the institution. GIPE was established by the Society in 1930.
The statement released by Deshmukh and SSI trustee Ramakanta Lenka reads, “We have received an official email from Dr Bibek Debroy taking the overall responsibility of V-C Ranade’s termination and subsequent events that took place. We have accepted his resignation and will not stop him from taking the call. We will soon initiate the process to appoint a new GIPE chancellor in coordination with the University Grants Commission (UGC).”
Debroy, the Padma Shri awardee and chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), was appointed chancellor of GIPE, a deemed to be university, on July 5 this year. He had succeeded Rajiv Kumar whose tenure ended on July 14.
{{/usCountry}}Debroy, the Padma Shri awardee and chairman of the Economic Advisory Council to the Prime Minister (EAC-PM), was appointed chancellor of GIPE, a deemed to be university, on July 5 this year. He had succeeded Rajiv Kumar whose tenure ended on July 14.
{{/usCountry}}Debroy on September 14 issued a termination letter to Ranade after a fact-finding committee found that the latter’s appointment as vice-chancellor violated the UGC norms. The panel concluded that Ranade did not fulfil the eligibility criteria of 10 years of continuous teaching experience as professor.
{{/usCountry}}Debroy on September 14 issued a termination letter to Ranade after a fact-finding committee found that the latter’s appointment as vice-chancellor violated the UGC norms. The panel concluded that Ranade did not fulfil the eligibility criteria of 10 years of continuous teaching experience as professor.
{{/usCountry}}The committee was set up after GIPE faculty Murli Krishna filed a complaint to UGC on December 19, 2023, alleging that Ranade’s appointment violated the UGC norms.
{{/usCountry}}The committee was set up after GIPE faculty Murli Krishna filed a complaint to UGC on December 19, 2023, alleging that Ranade’s appointment violated the UGC norms.
{{/usCountry}}Under the UGC guidelines, chancellors can remove vice-chancellors on grounds of incapacity, misrepresentation or violation of regulations.
{{/usCountry}}Under the UGC guidelines, chancellors can remove vice-chancellors on grounds of incapacity, misrepresentation or violation of regulations.
{{/usCountry}}Ranade approached the high court challenging his termination order and got an interim relief till September 23. On Thursday, the HC extended the relief, allowing him to remain V-C till October 7.
In the email, Debroy congratulated Ranade for getting a stay order and his continuation as V-C of GIPE.
“You asserted in your writ petition that I had not applied my mind and the stay order vindicates your position,” Debroy stated in the email.
Under these circumstances, Debroy noted, he has no moral right to continue in his post.
“I am standing down with immediate effect,” he stated in the communication.
Debroy stated in the mail that he will not be present for the convocation of the institution scheduled for October 5.
Ranade has been the group executive president and chief economist with Aditya Birla Group before joining GIPE. He has taught in universities in India and the US besides being member of RBI committees, according to the information available on the institute’s website.
Meanwhile, Debroy was unavailable for comment despite repeated attempts to contact him on phone and email.
