Dr. Arvind Virmani has joined NITI Aayog as a full time Member on 16.11.2022. He
\nearlier served as Chairman of the Foundation for Economic Growth and Welfare
\n(EGROW) and President of the Forum for Strategic Initiatives (FSI, Delhi). <\/p>\n
He was earlier Executive Director, IMF, Chief Economic Advisor, Ministry of Finance
\nand Principal Advisor, Planning Commission. <\/p>\n
He was closely associated with the Tax, Tariff, Foreign Exchange, Financial Sector &
\nExpenditure Policy Reforms carried out by India from 1991 to 2009.<\/p>\n
He was Director & Chief Executive of ICRIER (Indian Council for Research on
\nInternational Economic Relations) and has published 37 Journal Articles, 24 Books &
\nBook Chapters, around 70 other Working Papers and 50 policy papers in
\nMacroeconomics, Growth, Tax & Tariff Reform, Foreign Exchange, International
\nRelations and National Security Strategy.<\/p>\n
His experience in Finance Sector includes: Member of the Board in EXIM Bank,
\nChairman, Board of Trustees in SBI Mutual Fund, Director in Life Insurance
\nCorporation of India (LIC), Member of SEBI Appellate Tribunal and Depositories Act
\nAppellate Tribunal, Director in Punjab National Bank, Allahabad Bank and Member
\nof the Board of Trustee in Unit Trust of India. <\/p>\n
His Think Tank experience includes: Founder – Chairman of EGROW, Chairman of
\nPolicy Foundation, Member, Board of Governors in Center for Policy Research, Non\u0002resident Senior Fellow in Brookings, Affiliate Professor & Distinguished Senior Fellow in George Mason University, USA, Member of the Board in Research &
\nInformation Systems, Director & Chief Executive in Indian Council for Research on
\nInternational Economic Relations (ICRIER).<\/p>\n
Dr. Virmani has been a key figure in Macroeconomics and Policy Reform: He was a
\nmentor (Public Policy & Economics) in FICCI, Member, Technical Advisory
\nCommittee on Monetary Policy, RBI, Executive Director, International Monetary
\nFund, Member, Evaluation Committee, Independent Evaluation Office, Chief
\nEconomic Advisor, Department of Economic Affairs, Ministry of Finance, Principal
\nAdvisor, Planning Commission and Member, Telecom Regulatory Authority of India
\n(TRAI).<\/p>\n
Contribution to India\u2019s reform includes<\/p>\n
Customs Tariff reform: Strategy, timing and phasing of tariff from a peak of 300% in
\n1990 to 10% in 2002.<\/p>\n
Income Tax Reform: Simplification of Personal income tax rate to a three slab
\nsystem with the highest slab of 30% and fewer exemptions.<\/p>\n
Corporate Tax Reform: Simplification & reduction of maximum rate.<\/p>\n
Indirect tax: Move of Central Excise Tax System to a Central Value Added Tax
\n(CENVAT), and initiation of the construction of a National VAT, later christened GST.<\/p>\n
Trade reform: Design & phasing of Trade liberalization strategy from perspective of
\nMinistry of Finance (Department of Economic Affairs, Department of Revenue).<\/p>\n
Trade liberalization phasing progressively from Intermediate goods, to Capital
\nGoods to Consumer goods. Current Account phasing from Trade Account to
\nCurrent Account.<\/p>\n
Capital Account phasing from FDI, to Equity (NRI, FII) to Long Term Debt to
\nMedium Term Debt.<\/p>\n
Foreign Exchange Reform: Move from Controlled and Managed Foreign Exchange
\nSystem to a Dual Exchange Rate and from there to an integrated, but Managed
\nexchange rate. Replacement of the existing laws by a comprehensive new Foreign
\nExchange Management Act. <\/p>\n
Banking & Capital Market Liberalization: Pacing of private entry with Regulatory
\nsystem improvement. Balancing competition against asymmetric information and
\nmoral hazard problems.<\/p>\n
Macro management advise on India\u2019s BOP crisis, Latin American crisis, Asian crisis,
\nNuclear- related sanctions and Global financial crisis. Policy for capital inflow
\nsurges.<\/p>\n
Advise on Sectoral reform in every Industrial, Infrastructure, Social & Service sector. Personal Websites for Papers, Articles & Blogs:<\/strong> Chintan:<\/strong> Social Media links:<\/strong>
\n(https:\/\/sites.google.com\/site\/chintan1997reg\/policy-papers\/2nd-generation-reform<\/a>)<\/p>\n
\nWebsite: http:\/\/sites.google.com\/site\/dravirmani\/<\/a>
\nEgrow: https:\/\/egrowfoundation.org\/team\/arvind-virmani\/<\/a>
\nBlog: http:\/\/dravirmani.blogspot.in<\/a><\/p>\n
\nhttps:\/\/sites.google.com\/site\/chintan1997reg<\/a><\/p>\n
\nFacebook
\nhttps:\/\/www.facebook.com\/arvindvirmani2\/<\/a>
\nTwitter
\nhttps:\/\/twitter.com\/dravirmani<\/a><\/p>\n","protected":false},"author":1,"featured_media":1295,"menu_order":7,"template":"","team_designation":[],"team_department":[29],"class_list":["post-1294","team","type-team","status-publish","has-post-thumbnail","hentry","team_department-speakers"],"_links":{"self":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/team\/1294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/team"}],"about":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/types\/team"}],"author":[{"embeddable":true,"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/media\/1295"}],"wp:attachment":[{"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/media?parent=1294"}],"wp:term":[{"taxonomy":"team_designation","embeddable":true,"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/team_designation?post=1294"},{"taxonomy":"team_department","embeddable":true,"href":"https:\/\/et-edge.com\/conferences\/insurance\/2023-insurance\/wp-json\/wp\/v2\/team_department?post=1294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}