Economist Who Predicted Huge Delay in Remonetisation Passes Away
Saumitra Chaudhuri had asserted that the government might need until May 2017 to remonetise.
Eminent economist and former member of the erstwhile Planning Commission, Saumitra Chaudhuri, passed away on 19 December. He was 62.
“He passed away today morning at around 8 am. He was diagnosed with lung cancer. He was admitted in Ganga Ram hospital and his condition had deteriorated in the last three weeks,” his nephew Abheek said.
Chaudhuri made headlines a few weeks ago for his blogpost in The Economic Times, where he asserted that the Prime Minister Narendra Modi-led government may need until May 2017 to replenish the stock of the now-worthless bills.
Born on 11 January, 1954, Chaudhuri was on the board of many high-level government panels.
The economist had been a member of the Prime Minister’s Economic Advisory Council from 2005 onwards. He was the chairman of the Committee for Formulation of All Industry Rates of Duty Drawback 2005-06 to 2009-10 in the Ministry of Finance – his term was extended till date.
He was appointed to the Planning Commission in June 2009 and went on to become one of the panel’s longest-serving members.
Chaudhuri was also in race to become the Governor of the Reserve Bank of India (RBI), before Raghuram Rajan pipped him to the post.
(With inputs from PTI)
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