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As per latest reports, the former India’s Chief Economic Advisor, Kaushik Basu is now going to handle the international business authority of World Bank as bank has appointed him as its second Chief Economist and Senior Vice-President.

Basu’s appointment has made by replacing China based Justin Lin whose term expired on 1 July and Basu will start his term as global business market leader from October 1.

The World Bank President, Jim Yong Kim who recently appointed on the post has took charge on Indian candidate Basu .

“Having worked in the Ministry of Finance, in addition to his impressive academic achievements, Kaushik is uniquely suited to help us offer evidence-based solutions and advise to client countries and provide innovative excellence in leading our development research,” new World bank President said.

A person from developing country will placing the top most position at the largest global development bank.

PhD holder Basu had got his degree from the London School of Economics and also served in Cornell University in New York as a professor of economics and international studies. After that in 1992, he founded the Centre for Development Economics.