The unheeded lesson from BR Shenoy

Abstract

In the aftermath of finance minister Arun Jaitleys maiden Budget, our policymakers would do well to read and reflect upon the writings and policy recommendations of BR Shenoy (1905-1978). Most readers of this newspaperor other papers, for that matterare not likely to have heard of his name. Indeed, the same would apply to economics students and even to many economists in India. To elucidate his contributions, and extract what lesson can be drawn for the Indian economy at present, a biographical sketch would be helpful. To begin with, like other great Indians of his generation, he took part in the freedom struggle and was jailed for a while in Nagpur. He stood first in his Masters in economics at Banaras Hindu University in 1929, a landmark year being the onset of the Great Depression. Shenoy then went straight to the London School of Economics and studied there under Friedrich Hayek, the renowned Austrian economist. Read more at: https://www.financialexpress.com/archive/the-unheeded-lesson-from-br-shenoy/1278218/