Bibek Debroy, PM’s Economic Council chairman, passes away.
Bibek Debroy, the renowned economist, author, and former member of NITI Aayog, has passed away at the age of 69. Known for his insightful contributions to Indian economic policies, he was serving as the chairman of the Prime Minister’s Economic Advisory Council. Throughout his career, Debroy authored numerous books, blending economic theory with the cultural and historical dimensions of India. His work included translation projects on ancient texts, which highlighted his diverse interests beyond economics. As a respected professor, Debroy’s influence extended across academia, public policy, and governance, leaving a lasting impact on India’s intellectual and economic landscape.
Bibek Debroy, an esteemed economist, prolific author, and the longstanding chairman of the Prime Minister’s Economic Advisory Council (PMEAC) since 2017, has passed away at 69 on Friday, November 1, 2024. Known for his remarkable intellect and multifaceted contributions to economic policy, Mr. Debroy leaves behind a legacy that extends well beyond his influential role in government. His tenure as the PMEAC chairman marked a period of significant economic reform in India, where he advised on various policies aimed at boosting growth, promoting fiscal responsibility, and steering India’s economy through complex global shifts.
Beyond his role with the PMEAC, Mr. Debroy was previously a prominent member of the NITI Aayog from its formation in 2015 until mid-2019. The NITI Aayog was established as a policy think tank to replace the Planning Commission, shifting India’s economic approach from centralized planning to a more decentralized, collaborative model. In his time there, Mr. Debroy was instrumental in shaping key initiatives that influenced areas like sustainable development, rural employment, and economic reforms. His voice in Indian economic policy circles was marked by a balanced blend of innovation and adherence to fiscal prudence.
An intellectual with varied interests, Mr. Debroy was much more than an economist; he was also a profound scholar of ancient Indian texts. His love for Sanskrit and Indian philosophy led him to translate several seminal works from Sanskrit into English, including the Bhagavad Gita, the Vedas, Puranas, and Upanishads. This ambitious body of work showcases his deep reverence for India’s cultural heritage and his commitment to making it accessible to modern readers. His translations are widely appreciated for their clarity, precision, and fidelity to the original texts, bridging the gap between ancient Indian thought and contemporary scholarship. His work contributed not only to the fields of philosophy and literature but also offered unique insights into India’s intellectual traditions, which continue to inform various spheres of modern life.
Mr. Debroy’s intellectual pursuits were grounded in a solid academic foundation. A respected professor, he taught economics and related subjects at premier institutions, nurturing a generation of students who benefited from his depth of knowledge and clear, analytical approach to teaching. His written contributions, comprising over 20 books and numerous articles, include comprehensive analyses on topics like economic liberalization, Indian infrastructure, public finance, and social development. Mr. Debroy’s ideas frequently engaged with themes central to India’s evolving economic landscape, such as globalization, economic empowerment, and digital transformation.
Among Mr. Debroy’s lasting contributions was his dedication to translating complex economic issues into accessible language for the public. His writings aimed to break down economic concepts, making them relatable and understandable, thereby fostering economic awareness among Indian citizens. This approach brought economic discourse to a broader audience, allowing for a more inclusive conversation around India’s economic policies and challenges.
In recent years, as the chairman of the PMEAC, Mr. Debroy played a pivotal role in advising the government on critical policies, especially in times of global economic uncertainty. He was a key figure in addressing issues such as inflation control, fiscal discipline, and economic recovery in a post-pandemic world. Under his stewardship, the PMEAC provided valuable insights that helped shape policies to stabilize India’s economy and fuel growth. His contributions during this period underscored his dedication to India’s economic resilience and adaptability, helping navigate challenges such as global trade disruptions, geopolitical tensions, and inflationary pressures.
Mr. Debroy’s passing marks a significant loss for India. A distinguished voice in public policy, he was respected not only for his professional acumen but also for his intellectual curiosity, philosophical depth, and cultural insight. His work spanned economics, literature, and philosophy, reflecting a rare blend of pragmatism and passion. Many who knew him speak of his generosity with knowledge and his encouragement of diverse perspectives, particularly in the areas of policy and academic research.
Bibek Debroy’s legacy will live on through his writings, translations, and contributions to policy. His impact is felt in the academic sphere, in the corridors of policymaking, and in the minds of readers who find resonance in his translations of ancient texts. As an economist, he was a visionary; as a scholar, he was a bridge between the past and the present; and as a teacher and mentor, he inspired countless students, economists, and policymakers.
The profound contributions of Bibek Debroy are etched into India’s economic and cultural history, making him an irreplaceable figure. His life and work underscore the value of intellectual diversity and cultural engagement within the field of economics. He believed in an integrated approach to understanding India’s growth, one that encompasses economic, historical, and cultural dimensions. In his absence, India loses not only an economist but also a cultural ambassador and a thoughtful, compassionate thinker. His legacy remains a testament to the power of intellectual curiosity and the pursuit of knowledge for the public good.