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C. Rangarajan
Chairman of the Prime Minister's Economic Advisory Council
In office
August 2009 – 16 May 2014
Succeeded byBibek Debroy
In office
2005 – 2008
Preceded bySuresh D. Tendulkar
Member of Rajya Sabha
In office
August 2008 – August 2009
Chairman of the Twelfth Finance Commission of India
In office
Preceded byA. M. Khusro
Succeeded byVijay Kelkar
17th Governor of Andhra Pradesh
In office
24 November 1997 – 3 January 2003
Preceded byKrishan Kant
Succeeded bySurjit Singh Barnala
19th Governor of Reserve Bank of India
In office
22 December 1992 – 21 November 1997
Preceded byS. Venkitaramanan
Succeeded byBimal Jalan
Member of Planning Commission of Government of India
In office
21 August 1991 – 21 December 1992
Deputy Governor of Reserve Bank of India
In office
12 February 1982 – 20 August 1991
GovernorManmohan Singh
Amitav Ghosh (banker)
R.N. Malhotra
S. Venkitaramanan
Personal details
Political partyIndependent
Alma materNational College, Trichy
University of Madras (B.A.)
University of Pennsylvania (Ph.D.)
Civil servant

Chakravarthi Rangarajan (born 1932) is an Indian economist, a former Member of Parliament and 19th governor of the Reserve Bank of India. He is the former chairman of the Prime Minister's Economic Advisory Council; he resigned the day the UPA lost power. He is also the Chairman of the Madras School of Economics; former president of the Indian Statistical Institute; the founding chairman of the CR Rao Advanced Institute of Mathematics, Statistics and Computer Science; former chancellor of the University of Hyderabad; and a professor in Ahmedabad University.[1]

Early life

Rangarajan, a student of National College (Tiruchirappalli) between 1947 and 1949, graduated from Loyola College of the University of Madras in the commerce stream (where he was a contemporary of the Yale University economics professor T N Srinivasan). He later received his PhD in economics from the University of Pennsylvania in 1964. His thesis was titled "Variability of Demand Deposits".[2]. He is a native of Vaduvur a tiny village near Thanjavur


Rangarajan taught at several institutions including the University of Pennsylvania and the Indian Institute of Management, Ahmedabad (IIM-A). He was a well known teacher of economics at IIMA for the postgraduate and the doctoral courses. His textbook on macro economics was used in business management schools.[3] He was awarded the title of Honorary Fellow of IIM-A in 1997.[citation needed]

He served as a deputy governor of the Reserve Bank of India from 1982 to 1991, after which he served as the governor of the Reserve Bank of India between 22 December 1992 and 21 December 1997.[citation needed]

He served as the governor of Andhra Pradesh from 24 November 1997 to 3 January 2003. After demitting that office, he took charge as the chairman of the Twelfth Finance Commission.[citation needed] While serving as the governor of Andhra Pradesh, he received additional charges as governor of Odisha from 1998 to 1999, and as governor of Tamil Nadu from 2001 to 2002.[4][5]

In 2002, the Government of India awarded him the Padma Vibhushan, India's second highest civilian award.[6]

From 2005 to 2008, he was the chairman of the Prime Minister's Economic Advisory Council. In August 2008, he resigned as chairman of the council and was nominated as a member of the Rajya Sabha.[7] He resigned from the Rajya Sabha in August 2009 and was re-appointed chairman of the Prime Minister's Economic Advisory Council. He resigned from the Council on 19 May 2014, when the UPA government was voted out of power. Since then, he has been the chairman of the Madras School of Economics and has been writing and publishing on issues pertaining to the economy.

In May 2020, the Tamil Nadu government formed a high-level committee, chaired by Rangarajan, to advise the government on the medium-term response after the COVID-19 lockdown period. The committee submitted its report in September 2020, recommending an urban jobs guarantee program, similar to the state's rural one, and expressing optimism about the economy's ability to rebound in two months' time.[8]


  1. ^ "Notification" (PDF). University of Hyderabad: Office of the Registrar. 8 April 2015. Retrieved 18 May 2015.[permanent dead link]
  2. ^ Variability of Demand Deposits. OCLC 244986124.
  3. ^ Rangarajan, Chakravarthi; Dholakia, B (2001). Principles of Macroeconomics. Tata McGraw-Hill Education. ISBN 978-0-07-096581-2.
  4. ^ "List of Honourable Governors as of 12/11/2016". Official Web Site of Odisha Legislative Assembly. 2016. Retrieved 12 November 2016.
  5. ^ "Bio - Data of Governors of Orissa" (PDF). Orissa Reference Annual - 2009. Government of Odisha. 2009. Archived from the original (PDF) on 19 December 2013. Retrieved 18 May 2015.
  6. ^ "Padma Awards | Interactive Dashboard". Retrieved 12 October 2018.
  7. ^ "List of Governors". Reserve Bank of India. Archived from the original on 16 September 2008. Retrieved 8 December 2006.
  8. ^ "Tamil Nadu's economy to revive to pre-Covid-19 period in two months: Former RBI Governor C Rangarajan". The New Indian Express. Press Trust of India. 22 September 2020. Retrieved 4 December 2020.
Preceded byG. Ramanujam C Rangarajan Governor of Andhra Pradesh 24 November 1997 – 3 January 2003 Succeeded bySurjit Singh Barnala Preceded byK.V. Raghunatha Reddy Governor of Odisha Apr 1998– Nov 1999 Succeeded byM. M. Rajendran