Raghu Rajan update

Finance minister P Chidambaram is learnt to have cleared the appointment of noted economist Raghuram G Rajan as the chief economic advisor.

The approval from the finance minister will pave the way for the government to complete the appointment process although Rajan, who is a professor at the Chicago University Booth School of Business, is unlikely to take up the assignment for the next few months given his academic commitments.

Here is more, hat tip goes to James Crabtree.  Here is further detail.