An autonomous research institute under the Ministry of Finance


Governing body

The governing body of NIPFP comprises of three representatives of the Ministry of Finance, one representative of the Planning Commission of India, one representative of the Reserve Bank of India, three representatives of sponsoring State governments, three distinguished economists, three heads of sister research institutions, and members of other sponsoring agencies and invitees. At present, Dr. Urjit Patel, former Governor of the Reserve Bank of India, is the Chairman of the Governing Body.

In a meeting held on 18th June, 2020, the Governing Body reconstituted itself for a further period of 4 years i.e. from April 5, 2020to April 4, 2024.
List of current members on the Governing Body are:
Dr. Urjit Patel                                               Chairman     
18/2 Satsang Vihar Marg
Special Institutional Area (Near JNU)
New Delhi- 11 0067
Under Rule 7(b)(i)
Three nominees of the Ministry of Finance
Shri Ajay Bhushan Pandey                            Member
Revenue Secretary
Ministry of Finance
Government of India
North Block
New Delhi-110001
Shri Tarun Bajaj, IAS                                    Member
Secretary (Economic Affairs) 
Ministry of Finance
Government of India
North Block
New Delhi-110001
Dr. Krishnamurthy Subramanian                                              Member
Chief Economic Adviser
Ministry of Finance
Government of India
North Block
New Delhi 110001
Under Rule 7(b)(ii)
One nominee of the RBI
Dr. Rajiv Ranjan                                           Member
Monetary Policy Department
Reserve Bank of India
24th floor, Central Office 
Shaheed Bhagat Singh Marg, Fort
Mumbai-400 001
Under Rule 7(b)(iii)
One nominee of the Planning Commission
Ms. Anna Roy                                            Member
Senior Adviser
NITI Aayog
Parliament Street
New Delhi-110001
Under Rule 7(b)(iv)
Three nominees of sponsoring State Govts.
Sri Shamsher Singh Rawat, IAS                            Member
Principal Finance Secretary (FAC)
Finance Department
Government of Andhra Pradesh
A.P. Secretariat, Velagapudi
Sri I.S.N. Prasad, IAS                                    Member
Additional Chief Secretary
Finance Department
Government of Karnataka
Karnataka Government Secretariat
Vidhana Soudha
Smt. Smaraki Mahapatra, IAS,                       Member
Finance Department
Government of West Bengal
325 Sarat Chatterjee Road
Under Rule 7(b)(vi)
One nominee of the ICICI Bank
Shri B. Prasanna                                        Member
Head – Global Markets
ICICI Bank Towers
Bandra-Kurla Complex, Bandra East
Mumbai-400 051
Under Rule 7(b)(vii)
Two nominees of institutions
Dr. Niranjan Hiranandani                                Member
Associated Chambers of Commerce and Industry of India
5, Sardar Patel Marg
(Near Hotel Diplomat)
New Delhi-110 021
Dr. Sangita Reddy                                    Member
Federation of Indian Chambers of Commerce and Industry
Federation House, Tansen Marg, 
New Delhi-110 001
Under Rule 7(b)(viii)
Three eminent economists
Dr. Shaibal Gupta                                    Member
Asian Development Research Institute (ADRI)
BSIDC Colonoy
Off Boring Patliputra Road
Patna 800 013
Prof. Errol D’Souza                                    Member
Indian Institute of Management
Ahmedabad 385 015
Dr. Mala Lalvani                                           Member
Director and Professor  
Mumbai School of Economics and Public Policy
University of Mumbai
Vidyanagari Campus, Kalina
Mumbai 400 098
Under Rule 7(b)(ix)
Three representatives of collaborative inst.
Dr. Shekhar Shah                                    Member
National Council of Applied Economic Research
11, Parisila Bhawan
I.P. Estate, Ring Road
New Delhi – 110 002
Dr. Nirmalya Bagchi                                  Member           
Administrative Staff College of India
Raj Bhawan Road, Bella Vista
Hyderabad-500 082
Ms. Yamini Aiyar                                    Member
President and Chief Executive
Centre for Policy Research
Dharma Marg, Chankyapuri
New Delhi 110 021
Under Rule 7(b)(x)
One member to be co-opted by Governing Body
CA Tarun J. Ghia                                    Member
Council Member of ICAI
C/o Deputy Secretary (Council Affairs)
The Institute of Chartered Accountants of India
ICAI Bhawan
I.P. Marg
New Delhi-110 002
Under Rule 7(b)(xi)
Director of the Institute (ex-officio)
Dr. Pinaki Chakraborty                                              Member
Director, NIPFP, New Delhi
Under Rule 7(b)(xii)
One Senior Fellow of the Institute by rotation
Dr. R. Kavita Rao                                                Member
Professor, NIPFP,
New Delhi 
Special Invitees
Shri Pramod Chandra Mody                              Member
Central Board of Direct Taxes
Ministry of Finance
Government of India
North Block
New Delhi-110 001                       
Shri M. Ajit Kumar                                    Member
Central Board of Indirect Taxes and Customs
Ministry of Finance
Government of India
North Block
New Delhi-110 001