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The Fourth C.D. Deshmukh Memorial Lecture 2016
January 29, 2016

Nehru Memorial Library Auditorium, Teen Murti, New Delhi

 Financial Sector Reforms in India: The Past and the Future


Dr Raghuram Rajan

                                                                 Governor, Reserve Bank of India

Dr Raghuram Rajan, Governor of the Reserve Bank of India delivered NCAER’s 4th C. D. Deshmukh Memorial Lecture on January 29, 2016 to an audience of distinguished economists, civil servants, industry analysts, and economics students.  Dr Bimal Jalan, Chairman of India’s Expenditure Management Commission and former President of NCAER’s Governing Body and former Governor of the Reserve Bank of India was the Guest of Honour at the Lecture.


NCAER instituted this Lecture series in 2013 in memory of one of India’s most eminent economists and a founding father of NCAER. Established in 1956, NCAER is India’s oldest and largest independent, non-profit, economic policy research institute. NCAER’s work cuts across many sectors, including growth, macro, and trade, infrastructure, labour, and urban, agriculture and rural development, human development, and consumers. The focus of NCAER’s work is on generating and analysing empirical evidence to support and inform policy choices. It is also one of a handful of think tanks globally that combine rigorous analysis and policy outreach with deep data collection capabilities, especially for household surveys. NCAER is celebrating its 60th anniversary in 2016. More information on NCAER is available on www.ncaer.org.


Said Dr Shekhar Shah, Director-General of NCAER, “This is a very special evening for a number of reasons. First, not only are we honouring the first Indian Governor of the Reserve Bank of India and one of NCAER’s founding fathers, but we are privileged to have both Dr Raghuram Rajan and Dr Bimal Jalan with us.” 


He went to say, “Second, 2016 marks the 60th Anniversary of NCAER.  The founding fathers of NCAER, including Sir C D Deshmukh, made a promise in 1956 to the nation of serving both government and industry with economic and social data of the highest scientific quality, with empirical research of the highest order, and with solid evidence to drive policymaking in India. Today we launch our 60th year celebrations with a renewal of this promise.” 


Dr Shah concluded, “It is totally appropriate that the Lecture will take place in the Nehru Memorial Library, a stone’s throw from the very house in which Pandit Jawahar Lal Nehru spent his life as the first Prime Minister of In