New Delhi: Arvind Subramanian has stepped down as the Chief Economic Adviser on account of “pressing family commitments".

Union Minister Arun Jaitley announced the news on Facebook. “Few days ago Chief Economic Advisor Arvind Subramanian met me over video conferencing. He informed me that he would like to go back to the United States on account of pressing family commitments. His reasons were personal but extremely important for him. He left me with no option but to agree with him,” Jaitley said.

Jaitley also thanked Subramanian for his contribution to macro economic management of Indian economy. "Personally I will miss his dynamism, energy, intellectual ability and ideas. He would walk into my room - at times several times a day, addressing me as Minister to give either the good news or otherwise. Needless to say his departure will be missed by me. But I know that his heart is very much here. I am sure he will keep sending advice and analysis wherever he is," Jaitley wrote

Profoundly grateful & humbled by these extraordinarily generous words by Minister @arunjaitley announcing my decision to return-for personal reasons-to researching & writing. CEA job most rewarding, fulfilling, exciting I have ever had. Many many to thank:https://t.co/kwsRqDrMTB — arvind subramanian (@arvindsubraman) June 20, 2018

Subramanian, a Senior Fellow at the Peterson Institute for International Economics, was appointed India's Chief Economic Adviser (CEA) in October 2014. His term was for three years, which was to end on October 16, 2017. Subramanian had got an extension of one year in September last year.

The CEA is usually the main go-to person for advice for the finance minister on macro-economic matters, and primary responsibilities, among others, include authoring the mid-year analysis and the Economic Survey.

Subramanian's predecessor was Raghuram Rajan, who quit the position in September 2013 after being appointed the Governor of the Reserve Bank of India (RBI).

Subramanian graduated from St Stephen's College, Delhi, and got an MBA from the Indian Institute of Management, Ahmedabad. He obtained M.Phil and D.Phil from the University of Oxford, UK.