Prof. Chetan Ghate, Indian Statistical Institute (ISI), Pami Dua, Director, Delhi School of Economics and Ravindra H Dholakia, Professor, IIM-Ahmedabad have been appointed as the members of interest-rate setting committee of Monetary Policy of India by the Government of India.
The Reserve Bank of India (RBI) has relinquished the committee with powers which play a significant role in setting policy rates. The committee consists of six members. RBI and the government nominate three members each for the committee.
Here is the brief profile of the members:-
Chetan Gate, Professor, ISI: -
Chetan Gate is an associate professor of Planning Unit at Indian Statistical Institute (ISI), Delhi. He has a vast experience in working with Reserve Bank of India and macroeconomic policy making. He served as a member of Technical Advisory Committee. The committee provides inputs on interest rates to governor ahead of Monetary Policy reviews. He also served as a member of Expert Committee to revise and strengthen Monetary Policy Framework.
Pami Dua, Director, DSE:-
Currently, Pami Dua is the Director of Delhi School of Economics (DSE). She studied at London School of Economics and one of the most respected macroeconomics professors in India. She made her critical contributions to business cycle analysis and time series econometrics and forecasting and teaches the same areas at DSE.
Ravindra Dholakia, Professor of Economics, IIM-A:-
Ravindra Dhokalia works as Professor of Economics at Indian Institute of Management, Ahmedabad. He started his career as a professor in the year 1985. He has broad experience in policy making in both central and state governments. He also served as a member of High-Level Committees like Savings and Investment Estimation, HR Issues Merger of Air India and Indian Airlines, Public Expenditure Management and Leveraging Postal Networks in India.