The professor tendered his resignation through an email on Monday evening citing his concerns over the recent situation at JNU and his lack of faith in panel's mission to restore the credibility of the country's statistical system.
"I regret to inform you that, because of the situation in JNU where I stay, I will be unable to attend tomorrow's meeting. Further, I feel that, under current conditions, this committee is unlikely to be able to restore the credibility of the statistical system, which has been undermined in the recent past," Chandrasekhar of the Centre for Economic Studies and Planning at JNU writes in his resignation letter.
The first meeting of the panel is scheduled on Tuesday.
"I wish to record my appreciation of the sustained efforts of the large number of colleagues within the statistical system whom I have greatly valued working with in the past to build a robust and credible statistical base," Chandrasekhar said.
"It is unfortunate that political pressures have reduced their autonomy now, and efforts to consolidate a well-designed system are being subverted. In these circumstances, I will not be able to serve on this Committee."
The panel was set by government last month to review the economic data.
On Sunday a masked group carrying iron bars and sticks barged inside JNU attacking several students and teachers. The attackers vandalized hostel rooms of the students and the attack left over two dozen students injured.
The violence inside JNU triggered widespread condemnation and countrywide protests at universities and top educational institutions.