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Dr. Rangarajan’s tenure as Governor saw unprecedented central bank activism to put in place a comprehensive set of measures to strengthen and improve the competitive efficiency of the financial sector. New institutions and instruments were introduced and changes in exchange rate management culminated in the establishment of a unified exchange rate. In the field of monetary policy, his tenure saw the historic memorandum signed between the Bank and the Government whereby a cap was put on the automatic finance by the Bank to the Government in the form of ad hoc treasury bills. A quarter century later, in his new book Forks in the Road: My Days at RBI and Beyond, he reflects on his tenure at the RBI and more. The book offers a ringside view of India’s recent economic history.
Link to the book here.
After being in academia for nearly three decades, Dr. C. Rangarajan joined the RBI as a deputy governor (1982-91). Later, he served as Member, Planning Commission (1991-92), Governor, RBI (1992-97), Governor, Andhra Pradesh (1997-2003), Chairman, National Statistical Commission (2000-01), Chairman, Twelfth Finance Commission (2003-04), Member, Rajya Sabha (2008-09), and Chairman, Economic Advisory Council to the Prime Minister (2005-08 & 2009-14). A Padma Vibhushan awardee (2002), he was part of the team that initiated far-reaching reforms in India’s economy in the early 1990s.
N R Bhanumurthy
Professor N. R. Bhanumurthy has taken charge as a first Vice-Chancellor of Dr. B.R. Ambedkar School of Economics University, Bengaluru (BASE University). He is currently on leave from NIPFP, New Delhi, where he was a Professor since 2009. Prior to this he worked as Assistant Professor and Associate Professor at Institute of Economic Growth, Delhi.
His research areas are macro-monetary economics, fiscal policy, international money & finance, macroeconomic modeling and development economics. In these areas he has authored over 80 research papers and five books. He had brief stints at UNESCAP, Bangkok and at UNDP RCC at Colombo as Macroeconomist. He has served on over 25 government committees constituted by Finance Ministry, Ministry of Statistics, Ministry of Rural Development, National Statistical Commission, Ministry of Education, erstwhile Planning Commission, NITI Aayog, RBI, SEBI, Government of Madhya Pradesh, Government of Karnataka, among others.
He has received two prestigious awards: Mahalanobis Memorial Medal (National) Award for the year 2014 for his outstanding contributions to the field of quantitative economics in India; and “VKRV Rao Prize in Social Sciences (Economics)” for the year 2015, for high quality research and for significant contributions to social science research in India.
M Govinda Rao is an Adviser, Centre for Public Policy, Indian Institute of Management, Bangalore and Counsellor, Takshashila Institution, Bangalore. He was a Member of the Fourteenth Finance Commission (2013-14), Director, National Institute of Public Finance and Policy (2003-13) and Director, Institute for Social and Economic Change, Bangalore. He was a Member of Economic Advisory Council to the Prime Minister (2004-2013), Chairman, Expert Group on Taxation of Services, Chairman, Expert Group on VAT Compensation, Member of Financial Sector Legislative Reforms Commission (FSLRC); Member, High Level Expert Committee on Universal Health Coverage and Member, High Level Expert Committee on Efficient Management of Public Expenditure. His research interests include, tax policy and reforms, public expenditure management, State and local finances, fiscal decentralisation and federalism.
M S Sriram
Professor Sriram is a Faculty at the Centre for Public Policy, IIM Bangalore. He is also a Distinguished Fellow of Institute for Development of Research in Banking Technology – set up by Reserve Bank of India. In the past he was the ICICI Bank Lalita Gupte Chair Professor of Microfinance, and Chairperson Finance and Accounting Area at the IIM Ahmedabad; on the faculty of IRMA, and Vice President of Basix.