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. Vijay Kelkar, former Chairman of the Thirteenth Finance Commission, is the Chairman of the Governing Body.

In a meeting held on 19th March, 2016, the Governing Body reconstituted itself for a further period of 4 years i.e. from April 5, 2016 to April 4, 2020.
List of current members on the Governing Body are:
Dr. Urjit Patel, (Chairman)
Chairman, NIPFP, New Delhi 
Shri Sumit Bose, (Vice-Chairman)
Vice-Chairman, NIPFP
New Delhi-110 067
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 (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-110 001 
Under Rule 7(b)(ii)
One nominee of the RBI
Dr. Rajiv Ranjan (Member)
Adviser and Officer-in-Charge 
Department of Economic Analysis and Policy Research
Reserve Bank of India
Central Office Building
Shaheed Bhagat Singh Marg
Mumbai-400 001
Under Rule 7(b)(iii)
One nominee of the Planning Commission
Ms. Anna Roy (Member)
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)
Secretary, Finance Department
Government of West Bengal
Room No.1101
325 Sarat Chatterjee Road
Under Rule 7(b)(vi)
One nominee of the ICICI Bank
Mr. B. Prasanna, Head – Global Markets (Member)
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
Prof. Shaibal Gupta  (Member)
Asian Development Research Institute (ADRI)
BSIDC Colonoy
Off Boring Patliputra Road
Patna 800 013
Dr. Errol D’Souza (Member)
Indian Institute of Management
Ahmedabad 385 015
Dr. Sudipto Mundle (Member)
C-380, Defence Colony
New Delhi - 110 024
Under Rule 7(b)(ix)
Three representatives of collaborative inst.
Dr. Shekhar Shah (Member)
Director General
National Council of Applied Economic Research
11, Parisila Bhawan
I.P. Estate, Ring Road
New Delhi – 110 002
Dr. Nirmalya Bagchi (Member)
Director General
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, Chanakyapuri
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 
Indraprastha Estate, IOT 
New Delhi-110 002
Under Rule 7(b)(xi)
Director of the Institute (ex-officio)
Dr. Rathin Roy (Member-Secretary)
Director, NIPFP, New Delhi
Under Rule 7(b)(xii)
One Senior Fellow of the Institute by rotation
Dr. Ila Patnaik (Member)
Professor, NIPFP, New Delhi 
Special Invitees
Shri Pramod Chandra Mody
Central Board of Direct Taxes
Ministry of Finance
Government of India
North Block
New Delhi-110 001                       
Shri M. Ajit Kumar 
Central Board of Indirect Taxes and Customs
Ministry of Finance
Government of India
North Block
New Delhi-110 001