C. Rangarajan or Chakravarthi Rangarajan (born 1932) is an Indian economist and a distinguished former Member of Parliament and Ex-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; President of the Indian Statistical Institute; the Founding Chairman of the CR Rao Advanced Institute of Mathematics, Statistics and Computer Science; and Chancellor of the University of Hyderabad.[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]


Rangarajan taught at several institutions including the University of Pennsylvania and the 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]

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

From 2005 onwards, he was the Chairman of the Prime Minister's Economic Advisory Council. In August 2008, he resigned as the Chairman of the Prime Minister's Economic Advisory Council and was nominated as a member of the Rajya Sabha.[4] He resigned from the Rajya Sabha in August 2009 and was re-appointed the 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.

While serving as the governor of Andhra Pradesh, he also received additional charges as governor of Odisha from 1998 to 1999 and as governor of Tamil Nadu from 2001 to 2002.[5][6]


  1. ^ "Notification" (PDF). University of Hyderabad: Office of the Registrar. 8 April 2015. Retrieved 18 May 2015. 
  2. ^ "Variability of Demand Deposits". Retrieved 2 July 2012. 
  3. ^ Rangarajan, Chakravarthi; Dholakia,B (2001). Principles of Macroeconomics. Tata McGraw-Hill Education. ISBN 978-0-07-096581-2. 
  4. ^ "List of Governors". Reserve Bank of India. Archived from the original on 16 September 2008. Retrieved 8 December 2006. 
  5. ^ "List of Honourable Governors as of 12/11/2016". Official Web Site of Odisha Legislative Assembly. 2016. Retrieved 12 November 2016. 
  6. ^ "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. 

External links

Preceded by
G. Ramanujam
C Rangarajan
Governor of Andhra Pradesh

24 November 1997 – 3 January 2003
Succeeded by
Surjit Singh Barnala
Preceded by
K.V. Raghunatha Reddy
Governor of Odisha
Apr 1998– Nov 1999
Succeeded by
M. M. Rajendran