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Economist Who Predicted Huge Delay in Remonetisation Passes Away

Saumitra Chaudhuri had asserted that the government might need until May 2017 to remonetise.

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India
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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.

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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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