4. C Rangarajan (Chairman -PM's Economic Advisory Council):
A former RBI Governor, Rangarajan is the Chairman of PM's Economic Advisory Council.
Whenever the PM has to make up his mind on matters relating to macroeconomics, he trusts Rangarajan more than anybody else including the Finance Minister.
Rangarajan received his Ph.D. in economics from the University of Pennsylvania in 1964. He was a well known teacher of economics at IIMA for the postgraduate and the doctoral courses.His textbook on macro economics is popular in business management schools.
Manmohan Singh had shortlisted Rangarajan, along with Montek Singh Ahluwalia, for the Finance Minister's post after Pranab Mukherjee's elevation to the Rashtrapati Bhawan.
But Rangarajan, like Montek, lost out in the race purely because of lack of political experience and support.