Dr. C. Rangarajan delivered the inaugural
“G. Ramachandran Endowment Lecture” on
“Three Decades of the Economic Reforms in India”
At an event hosted by Madras School of Economics (MSE) today Dr. C. Rangarajan, Chairman, MSE and Former Chairman, Prime Minister’s Economic Council delivered the inaugural endowment lecture on “Three Decades of the Economic Reforms in India”. This was meant to be a tribute to Mr. G. Ramachandran, the youngest officer to become Finance Secretary, Tamil Nadu (1965) – a 1949 batch IAS Officer who worked for former Chief Minister of Rajaji, Kamaraj, Bakthavatsalam and Annadurai, with distinction. The event was held at the Madras School of Economics in Kotturpuram, Chennai.
Given Mr. G Ramachandran’s passion for academia since he began his career as a lecturer in the Loyola College Madras, before joining IAS, the family felt it was a privilege and honour when Madras School of Economics agreed to host an annual endowment lecture.
Recalling his tenure as governor of RBI, Dr. Rangarajan said, Mr. G. Ramachandran was serving as a Board Member of RBI and his immeasurable contribution and gave a detailed journey of various measures over 30 years, he spoke about the important and landmark reform happened in 1991. Highlighting how the reforms helped to push the growth rate from 3.5% to 6.2%, he narrated how the success story of liberalization to maintain the balance of payment in the country and accommodate the principles of equity.
Speaking on the key lessons on economic reforms, he said, “Reforms do not lead to automatically to higher growth. It creates conditions and environment for higher to happen. Investment rate of the country must be nurtured carefully and watchfully along with reforms. Continuity of the agenda of reforms with critical review of each sector of the economy and the holistic approach of Centre and State to introduce reforms will to accelerate the growth.
Earlier, Dr. K.R. Shanmugam, Director, MSE welcomed the gathering and Mr. Brijeshwar Singh, IAS (R), Former Chairman, NHAI paid rich tributes to Mr. G. Ramachandran, One of India’s Outstanding Administrators, who is admired for his sincerity and integrity. He urged everyone who has joined and part of the Administration to read his book “Walking with the Giants“ as it will serve as ready-reckoner. He recalled how as a deep thinker of economic policy, he played a critical role in nationalization of commercial banks.
Mr. Ramachandran’s son Mr. R Ganapathi, who is the Chairman of Trigyn Technologies Limited – a leading IT company handed over the Endowment Cheque and the toppers of PGDM Programme were presented with the G. Ramachandran Gold Medal Award.
Earlier seven lectures were conducted under the auspices of the Southern India Chamber of Commerce and Industry.