Indian American appointed New York's financial advisor
Taking a cue of the rising pension costs in New York, the state's Mayor, Michael Bloomberg appointed Indian American Ranji Nagaswamy as its new financial advisor.
TAKING A cue from the rising pension costs in New York, the state's Mayor, Michael Bloomberg has appointed Indian American Ranji Nagaswamy as its new financial advisor. This move by the Mayor has made Ranji the first ever Indian American to hold such a coveted post.
Welcoming her on board, Bloomberg said that he was extremely fortunate for having someone as experienced and talented as Ranji for managing major investments. He further stated that the cost of taxpayers in the city is growing at an unprecedented rate. It was earlier $ 1.1 billion in 2001 to an expected $ 7.6 billion this year. This figure he said is more than 10 percent of the entire city budget.
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