Pune: Renowned economist Dr Bibek Debroy has been appointed Chancellor of the Gokhale Institute of Politics and Economics here, the institute said on Friday.

Debroy currently serves as the Chairman of the Economic Advisory Council to the Prime Minister (EAC-PM). He was earlier a member of NITI Aayog.

He has held positions in prestigious institutions including the Center for Policy Research and the National Council of Applied Economic Research.

Debroy was awarded the Padma Shri, the country's fourth highest civilian award, in 2015.

Last year, in recognition of his scholarship and extensive work in translating ancient Indian epics, the city-based Bhandarkar Oriental Research Institute (BORI) honored him with the 'Sir R G Bhandarkar Memorial Award'.

The press release said Debroy worked at the Gokhale Institute from 1983 to 1987.

It said his leadership and vision are expected to further strengthen the institute's role in education, research and policy making in India.

Gokhale Institute of Politics and Economics, Pune was established in 1930 by the Servants of India Society. It is said to be the oldest research and training institute of economics in the country.

It is dedicated to research on the socio-economic dimensions of Indian society and carries forward the legacy of Gopal Krishna Gokhale, the eminent leader of the independence movement.