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 Tarun Bajaj                                         Member
Revenue Secretary
Ministry of Finance
Government of India
North Block
New Delhi-110001
Shri Ajay Seth, IAS                                    Member
Secretary (Economic Affairs) 
Ministry of Finance
Government of India
North Block
New Delhi-110001
Dr. V. Anantha Nageswaran                                              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
Executive Director
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 Samir Kumar Sinha, IAS                            Member
Principal Secretary
Finance Department
Government of Assam
Assam Sachivalaya
Dispur, Guwahati-781005
Sri Sanjay M. Kaul, IAS                              Member
Government of Kerala
Shri Manoj Saunik, IAS                                   Member
Additional Chief Secretary (Finance)
Finance Department
Government of Maharashtra
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
Mr. Sumant Sinha                                   Member
Associated Chambers of Commerce and Industry of India
5, Sardar Patel Marg
(Near Hotel Diplomat)
New Delhi-110 021
Mr. Sanjiv Mehta                                      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. Mala Lalvani                                           Member
Director and Professor  
Mumbai School of Economics and Public Policy
University of Mumbai
Vidyanagari Campus, Kalina
Mumbai 400 098
Dr. Jyotsna Jalan                                         Member
Professor of Economics
Centre for Studies in Social Sciences
Dr. M. Govinda Rao                         Member
former member
fourteenth Finance Commission
Under Rule 7(b)(ix)
Three representatives of collaborative inst.
Dr. Poonam Gupta                             Member
The Director-General
National Council of Applied Economic Research
11, Parisila Bhawan
I.P. Estate, Ring Road
New Delhi – 110 002
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. (Ms.) Kemisha Soni, Indore                           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. R. Kavita Rao                                                    Member
Acting Director, NIPFP, New Delhi
Under Rule 7(b)(xii)
One Senior Fellow of the Institute by rotation
Dr. Lekha Chakraborty                                               Member
Professor, NIPFP,
New Delhi 
Special Invitees
Shri Nitin Gupta                              Member
Central Board of Direct Taxes
Ministry of Finance
Government of India
North Block
New Delhi-110 001                       
Shri Vivek Johri                                    Member
Central Board of Indirect Taxes and Customs
Ministry of Finance
Government of India
North Block
New Delhi-110 001