new delhi the government has issued formal orders to appoint raghuram rajan former international monetary fund chief economist as the chief economic advisor in the finance ministry the economist who is currently a professor at chicago universitys booth school of business is not expected to take charge for the next few weeks due to academic commitments rajan will take over at a time when the government is trying to combat a hostile economic climate a part of the problem government officials concede is to come up with new solutions to deal with lingering issues rajan is expected to provide new ideas although he may find it tough to deal with the bureaucracy both in the government as well as in regulatory agencies such as the rbi which is holding back measures like development of a bond market or an independent debt management office but given that he has been virtually handpicked for the job by prime minister manmohan singh and backed by chidambaram the bureaucracy may just give in