The chairman of the Prime Minister's Economic Advisory Council (EAC), 76 year-old C Rangarajan has resigned from the post. One hears that he is now going to take on a Parliamentary berth and will soon join the Union Cabinet. Succeeding him as the EAC chairman will be economist Suresh Tendulkar, presently a member of the Council.

Tendulkar in fact confirmed this news when he was contact by the Business Standard newspaper. A Ph. D in economics from Harvard University, Suresh Tendulkar has been serving as the part time member of the EAC since 2005 now. He has also been acting, from July 2006 onwards, as the part-time chairman of the National Commission on Statistics.

From the same year, Tendulkar has also been on RBI’s central board of directors. Noted economist C Rangarajan, on the other hand, will now head for the Rajya Sabha where a vacancy was created recently after the passing away of Gandhian Nirmala Deshpande. Rangarajan is expected to get a berth on the Union Cabinet, perhaps with responsibility of a key economic portfolio.