On 5 September 2012, The World Bank appointed Kaushik Basu, as its
chief economist and senior vice president. Basu, an Indian national and a
Cornell University professor most recently served as chief economic
adviser of the India's Union Ministry of Finance.
He has to take over as the chief economist at the World Bank on October 1.
Kaushik
Basu, 60, holds a doctorate from the London School of Economics and has
also founded the Centre for Development Economics at the Delhi School
of Economics in 1992 is also a founding member of the Madras School of
Economics.
He had his wide contributions in the field span
development economics, welfare economics, industrial organisation and
public economics
He has earlier served as chairman of Cornell's
economics department and was a director of its Center for Analytic
Economics. He was awarded with one of the country's highest civilian
awards, the Padma Bhushan in May 2008.
In his two-and-a-half-year stay in the Union finance ministry,
Basu gave some constructive thoughts on food coupons and innovative ways
to tackle corruption among other advices.
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