Twelfth Annual NCAER-NBER-ICRIER Neemrana Conference

Transcription

1 Participants December 18 20, 2010 The organisers gratefully acknowledge additional financial and other support from NIIT.

2 Shankar Acharya Honorary Professor ICRIER SHANKAR ACHARYA is one of India s leading policy economists. As Chief Economic Adviser to the Government of India ( ) he was deeply involved in the economic reforms of the 1990s. He also served on the Securities and Exchange Board of India (SEBI), , and, more recently, as a member of the Prime Minister s Economic Advisory Council ( ) and Member, Twelfth Finance Commission (2004). Earlier, , he worked in the World Bank, where he led the World Development Report team for 1979 and was Research Adviser to the World Bank, He was Economic Adviser, Ministry of Finance, He has authored seven books and numerous scholarly articles in academic journals. His three most recent books are Essays on Macroeconomic Policy and Growth in India (2006, Oxford University Press, Delhi), Can India Grow without Bharat? (2007, Academic Foundation, Delhi) and India and Global Crisis (2009, Academic Foundation, Delhi). Just published is a volume edited with Rakesh Mohan, India s Economy: Performance and Challenges (2010, Oxford University Press, Delhi). Currently he is Honorary Professor and Board Member of the Indian Council for Research on International Economic Relations (ICRIER). He also serves on the governing boards of other national research organizations (including the National Institute of Public Finance and Policy) and various advisory bodies of Government (e.g. the National Security Advisory Board), the Reserve Bank (the Advisory Committee on Monetary Policy) and some corporates. He is non-executive Chairman of Kotak Mahindra Bank. He writes regularly in the Business Standard and is a consultant to international organizations. Dr. Acharya has a Ph.D. (1972) from Harvard University and a B.A.(1967) from Oxford. Liaquat Ahamed is an author and investment manager. He has worked at the World Bank in Washington D.C. and the New York-based partnership of Fischer Francis Trees and Watts, where he served as Chief Executive. Ahamed is the author of Lords of Finance: The Bankers Who Broke the World, a book which examines the similarities between the economic collapse of the late 1920s and the Late-2000s recession. This book earned him the 2010 Pulitzer prize. He is currently an adviser to several hedge fund groups, including the Rock Creek Group and the Rohatyn Group, is a director of Aspen Insurance Co., and is on the board of trustees of the Brookings Institution. He has degrees in economics from Harvard and Cambridge universities. Liaquat Ahamed Author and Investment Manager 1

3 Isher Judge Ahluwalia Chairperson ICRIER ISHER JUDGE AHLUWALIA is Chairperson, Board of Governors, the Indian Council for Research on International Economic Relations (ICRIER), where she served as Director and Chief Executive from 1997 to Dr Ahluwalia was awarded Padma Bhushan by the President of India in the year 2009 for her services in the field of education and literature. Dr Ahluwalia is Chairperson of the High Powered Expert Committee on Urban Infrastructure, appointed by the Ministry of Urban Development, Government of India in May She is also Member of National Manufacturing Competitiveness Council, Government of India. Dr Ahluwalia was Vice Chairperson of the Punjab State Planning Board from 2005 to Dr Ahluwalia is on the Boards of a number of premier research institutes in India. Dr Ahluwalia is Vice Chairperson, Global Development Network, New Delhi and Member, Board of Trustees of the International Water Management Institute, Sri Lanka. She was Chairperson, Board of Trustees of the International Food Policy Research Institute (IFPRI), Washington, D.C. from 2003 to Dr Ahluwalia was a Member of the Eminent Persons Group (EPG) of the Asian Development Bank, which submitted its report, Towards a New Asian Development Bank in a New Asia in May She was a member of the Commission on Macro-Economics and Health which submitted its report to the Director General, WHO in Dr Ahluwalia is currently Member, Advisory Group on Institutional and Human Resources Management, the Asian Development Bank. Dr. Ahluwalia received her B.A. from Presidency College, Calcutta University, M.A. from the Delhi School of Economics, and Ph.D. from the Massachusetts Institute of Technology (MIT), all in economics. Her research has focused on industrial development, macro-economic reforms, and issues in social sector development in India. She is an author/co-author/editor of several books and has published many articles in professional journals and also engaged actively in policy debate in India through writing in newspapers and magazines and participating in discussions in the electronic media. MONTEK SINGH AHLUWALIA is currently Deputy Chairman, Planning Commission. From July 2001 to June 2004 Mr. Ahluwalia was Director of Independent Evaluation Office, IMF. Prior to taking up his position at the IMF, he was a Member of the Planning Commission in New Delhi as well as a Member of the Economic Advisory Council to the Prime Minister. He had previously served as Finance Secretary, Ministry of Finance; Secretary, Department of Economic Affairs; Commerce Secretary; Additional and Special Secretary to the Prime Minister and Economic Advisor, Ministry of Finance. Montek S. Ahluwalia Mr. Ahluwalia is a prominent economic administrator who has written and spoken extensively on national and international economic issues. His published work includes papers in professional journals and contributions to books. Deputy Chairman Planning Commission 2

4 Alberto Alesina Professor of Political Economics Harvard University ALBERTO ALESINA is Nathaniel Ropes Professor of Political Economics at Harvard University. He obtained his Ph.D. from Harvard in He is also a member of the National Bureau of Economic Research and the Center for Economic Policy Research. He is a member of the Econometric Society and of the American Academy of Arts and Sciences. He is a pioneer in the field of Political Economics and has published extensively in all major academic journals in economics. His two most recent books are The Future of Europe: Reform or Decline, published by MIT Press, and Fighting Poverty in the US and Europe: A World of Difference, published by Oxford University Press. He has been a Co-editor of the Quarterly Journal of Economics for eight years and Associate Editor of many academic journals. His work has covered a variety of topics that includes political business cycles, the political economy of fiscal policy and budget deficits, the process of European integration, stabilisation policies in high inflation countries, the political economic determinants of redistributive policies, differences in the welfare state in the US and Europe and, more generally, differences in the economic system in the US and Europe, the effect of alternative electoral systems on economic policies, and the determination of the choice of different electoral systems. ABHIJIT VINAYAK BANERJEE is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology (MIT). He was educated at the University of Calcutta, Jawaharlal Nehru University, and Harvard University, where he received his Ph. D. in Abhijit Vinayak Banerjee In 2003, he founded the Abdul Latif Jameel Poverty Action Lab, along with Esther Duflo and Sendhil Mullainathan and remains one of the directors of the lab. He is a past president of the Bureau for Research in Economic Analysis of Development, a Research Associate of the NBER, a CEPR research fellow, International Research Fellow of the Kiel Institute, a fellow of the American Academy of Arts and Sciences and the Econometric Society. His areas of research are development economics and economic theory. Ford Foundation International Professor of Economics MIT 3

5 Sanjaya Baru SANJAYA BARU is the Editor of Business Standard. Dr. Baru has been the Media Advisor to Prime Minister Manmohan Singh from 2004 to He was earlier the Editor-in-Chief of the Financial Daily The Financial Express, for tenure of around 4 years. Prior to joining Financial Express, Dr. Baru also worked for The Times of India, where he wrote for the editorial page and with the sister publication The Economic Times as the Associate Editor. Other than being a journalist Dr. Baru has served as an academician as well. He has worked with Research and Information System for the Non-Aligned and Other Developing Countries (RIS) and has been a professor at the Indian Council for Research on International Economic Relations. He has also been a consultant with United Nations Development Programme. Baru holds a Ph.D. in economics from Jawaharlal Nehru University. Editor Business Standard KAUSHIK BASU is currently Chief Economic Adviser, Ministry of Finance, Government of India. He is on leave from Cornell University where he is Professor of Economics and the C. Marks Professor of International Studies. Till 2009 he was Chairman of the Department of Economics and during he was Director of the Center for Analytic Economics at Cornell. Earlier he was Professor of Economics at the Delhi School of Economics, where in 1992 he founded the Centre for Development Economics in Delhi, and was its first Executive Director. He is also a founding member of the Madras School of Economics. He is currently (the fourth) President of the Human Development and Capabilities Association, which was founded by Amartya Sen. He has held advisory posts with the International Labour Organisation, the World Bank, and the Reserve Bank of India. He is Editor of Social Choice and Welfare, and served or serves on the Editorial Boards of the Journal of Economic Perspectives, Journal of Development Economics, World Bank Economic Review, and the Japanese Economic Review. In May 2008, he was awarded one of India s highest civilian awards, the Padma Bhushan by the President of India. Kaushik Basu Chief Economic Adviser Ministry of Finance 4

6 Suman Bery Director General NCAER SUMAN BERY is the current Director-General of the NCAER, New Delhi since January 1, Mr. Bery is also a member of the Prime Minister s Economic Advisory Council. Prior to these assignments, he was working at the World Bank in Washington DC, USA as the Lead Economist for Brazil. Other experience on Latin America included work on Argentina, Uruguay, Paraguay, Ecuador and Peru. Between 1992 and 1994 he held the position of Special Consultant to the Governor of Reserve Bank of India, based in Mumbai. While at the RBI, he was actively involved in developing proposals for reform of the government debt markets, linkages between general financial sector deregulation and the development of the bond market, as well as issues of market structure, drawing upon the experience of other developing countries. Mr. Bery graduated from Magdalen College, Oxford and did his Master of Public and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University. Mr. Bery's publications include papers on Indian Financial Sector reforms; Reforms of Public Sector Banks; Banking Crises in Latin America and the Political Economy of Economic reforms in developing countries. He has also been a member of several government committees and task forces. SURJIT S. BHALLA is Managing Director of O(x)us Research and Investments, a New Delhi-based economic research, asset management, and emerging-markets advisory firm. He taught at the Delhi School of Economics and worked at the Rand Corporation, the Brookings Institution, and at both the research and treasury departments of the World Bank. He has also worked at Goldman Sachs ( ) and Deutsche Bank ( ). He is author of Imagine There's No Country: Poverty, Inequality, and Growth in the Era of Globalization (2002). His research interests are fiscal policy (flat tax?), economic history (do institutions cause growth?), and macroeconomic policy (the role of exchange rates in economic development). He has been a member of several Government of India committees on economic policy, most recently the committee on capital account convertibility. He is on the board of India s leading think tank, NCAER and is an appointed member of the National Statistical Commission of India. He is also a regular contributor to newspapers and magazines on economics, politics, and cricket. His first book, Between the Wickets: The Who and Why of the Best in Cricket (1987), developed a model for evaluating performance in sports. Surjit S. Bhalla Managing Director O(x)us Research and Investment 5

7 Amitabh Chandra Professor of Public Policy Harvard Kennedy School of Govenment AMITABH CHANDRA is Professor of Public Policy at the Harvard Kennedy School of Government. He is a Research Fellow at the IZA Institute in Bonn, Germany, and at the National Bureau of Economic Research (NBER). His research focuses on productivity and cost-growth in healthcare and racial disparities in healthcare. His research has been supported by the National Institute of Ageing, the National Institute of Child Health and Development, the Robert Wood Johnson Foundation, and has been published in the American Economic Review, the Journal of Political Economy, the New England Journal of Medicine, and Health Affairs. He is an editor of the Journal of Human Resources, Economics Letters, and the American Economic Journal. Professor Chandra has testified to the United States Senate, the National Academy of Science, the Institute of Medicine and the United States Commission on Civil Rights. He has also published extensively in popular public media. ARUNISH CHAWLA is presently working as Executive Assistant to the Deputy Chairman, Planning Commission of India. He is a Ph.D. in Economics from the London School of Economics with specialisation in macro and international economics. Prior to this assignment he worked as Secretary and Special Secretary, Finance to the State Government of Bihar. He is also a member of the Indian Administrative Service and combines grassroots experience with technical expertise at the policy level. Arunish Chawla Executive Assistant to the Deputy Chairman Planning Commission 6

8 Saumitra Chaudhuri Member Planning Commission SAUMITRA CHAUDHURI looks after the Development Policy and Perspective Planning Division in the Planning Commission. This Division deals with core economic management issues. He is also the member in charge for State Plans of Gujarat, Himachal and Uttarakhand. He has been a Member of the Economic Advisory Council to the Prime Minister since January, Till he joined the Planning Commission he was Economic Advisor and Research Coordinator with ICRA Limited, a full service credit rating agency, for sixteen years ( ) and Executive Editor of the research publication Money & Finance. He began his working career in the Bureau of Industrial Costs & Prices (BICP), Ministry of Industry ( ) and later was senior economist in the Joint Plant Committee, Department of Steel ( ). Subsequently he was associated with Steel Authority of India Ltd. (SAIL) and State Bank of India (SBI) ( ), besides for short durations with World Bank and UNIDO over the two decades. DAVID CUTLER is currently the Otto Eckstein Professor of Applied Economics in the Department of Economics and Kennedy School of Government, and recently completed a fiveyear term as associate dean of the Faculty of Arts and Sciences for Social Sciences. He has developed an impressive record of achievement in both academia and the public sector. Honored for his scholarly work and singled out for outstanding mentorship of graduate students, Professor Cutler's work in health economics and public economics has earned him significant academic and public acclaim. He served on the Council of Economic Advisers and the National Economic Council during the Clinton Administration and was senior health care advisor to Barack Obama's Presidential campaign. He also advised the Presidential campaign of Bill Bradley. Among other affiliations, he has held positions with the National Institutes of Health and the National Academy of Sciences. Currently, Professor Cutler is a Research Associate at the National Bureau of Economic Research and a member of the Institute of Medicine. He is the author of Your Money Or Your Life: Strong Medicine for America's Health Care System, published by Oxford University Press. David Cutler Professor Department of Economics and Kennedy School of Government 7

9 Martin Feldstein Professor of Economics Harvard University MARTIN FELDSTEIN is the George F. Baker Professor of Economics at Harvard University, and President Emeritus of the National Bureau of Economic Research (NBER). He served as President and CEO of the NBER from and He continues as a Research Associate of the NBER. From 1982 through 1984, Martin Feldstein was Chairman of the Council of Economic Advisers and President Reagan s chief economic adviser. He served as President of the American Economic Association in In 2006, President Bush appointed him to be a member of the President s Foreign Intelligence Advisory Board. Dr. Feldstein is a member of the American Philosophical Society, a Corresponding Fellow of the British Academy, a Fellow of the Econometric Society and a Fellow of the National Association of Business Economists. He is also a member of the Trilateral Commission, the Council on Foreign Relations, the Group of 30, and the American Academy of Arts and Sciences. SUBIR GOKARN is the Deputy Governor of the Reserve Bank of India. Prior to his appointment as Deputy Governor he was at the Standard and Poor and before that he was Executive Director and Chief Economist of CRISIL, India s leading ratings, advisory, and research company. He has wide-ranging research experience in issues relating to Industry, Finance, Infrastructure and Macroeconomics. His previous positions were at the Indira Gandhi Institute of Development Research (IGIDR), Mumbai, and the National Council of Applied Economic Research (NCAER), New Delhi, where he was Chief Economist in charge of the Industry and Infrastructure Division. He was also Consulting Editor to Business Standard during and continued to contribute a fortnightly column on current economic issues to that newspaper until his recent appointment. His views on the Indian economy are regularly cited in the print and electronic media. Subir Gokarn Deputy Governor Reserve Bank of India 8

10 Mikhail Golosov MIKHAIL GOLOSOV is currently Professor of Economics at Yale University. Earlier he was Dornbusch Career Development Associate Professor at the MIT. He also held teaching positions at Harvard and Chicago universities. His Research Interests include Macroeconomics, Public finance, Political economy and has published extensively on these areas in reputed journals. About his other professional experience, he has been Associate Editor of Econometrica, Journal of Monetary Economics, Journal of Public Economics, and Finnish Economic Papers. He is also a referee for journals like Econometrica, Journal of Political Economy, American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, Review of Economics and Statistics, Journal of Economic Theory, Journal of Public Economics, Journal of Monetary Economics, Journal of Development Economics, to name a few. Professor of Economics Yale University ANWARUL HODA is Acting Director and Chief Executive of ICRIER and Professor at ICRIER. Till recently he was Member, Planning Commission, Government of India. Mr. Hoda joined the Indian Administrative Service in 1962 and during his distinguished career as a civil servant worked on several assignments relating to international trade and economic relations. During the period and again he was with the Ministry of Commerce. Anwarul Hoda He was the chief policy Coordinator in the Government of India during the Uruguay Round ( ). In 1993 he was appointed as Deputy Director General ICITO/GATT and in 1995 he assumed charge as Deputy Director General, WTO. In 1999 he was appointed Special Advisor to the Director General of WTO for the Ministerial Conference at Seattle. Acting Director and Chief Executive ICRIER 9

11 Chang-Tai Hsieh Professor of Economics University of Chicago CHANG-TAI HSIEH is Professor of Economics at the University of Chicago Booth School of Business. Earlier he was Professor and Associate Professor of Economics at University of California, Berkeley, Department of Economics ( July 2007 to June 2008 and July 2003 to June 2007 respectively); Assistant Professor of Economics at Princeton University, Department of Economics ( July 1998 to June 2003). Hsieh has been a visiting scholar at the Federal Reserve Banks of San Francisco, New York, and Minneapolis, as well as the World Bank's Development Economics Group and the Economic Planning Agency in Japan. He is a Research Associate for the National Bureau of Economic Research. Chang-Tai Hsieh conducts research on growth and development and has published several papers in top economic journals, including "Misallocation and Manufacturing TFP in China and India," in the Quarterly Journal of Economics; "Relative Prices and Relative Prosperity," in the American Economic Review; and "What Explains the Industrial Revolution in East Asia? Evidence from the Factor Markets," in the American Economic Review. BENGT ROBERT HOLMSTRÖM is the Paul A. Samuelson Professor of Economics at Massachusetts Institute of Technology, where he also was head of the Economics Department from He holds a joint appointment with MIT s Sloan School of Management. He is a fellow of the American Academy of Arts and Sciences, the Econometric Society and an elected foreign member of the Royal Swedish Academy of Sciences and the Finnish Academy of Sciences and Letters. He is a research associate of the National Bureau of Economic Research, a member of the executive committee for the Center of Economic Policy Research and second Vice President of the Econometric Society. Professor Holmström s research interests are in the fields of contracting and incentives. He has contributed to the development of the theory of contracting and incentives, the theory of the firm, corporate governance the most recently to the understanding of liquidity problems and financial crises. Bengt Robert Holmstrom Professor of Economics MIT 10

12 Steven N. Kaplan Professor of Entrepreneurship and Finance University of Chicago STEVEN N. KAPLAN is the Neubauer Family Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business (Booth). Kaplan founded the entrepreneurship program at Booth and serves as the faculty director of Booth s Polsky Center for Entrepreneurship. Professor Kaplan is one of the world s foremost researchers on corporate governance, private equity and venture capital. His papers on leveraged buyout (LBOs) and private equity are the standard references in the field. He has testified to U.S. Senate and U.S. House Committees about his research. His findings and opinions regularly appear in prominent business media. Professor Kaplan is a Research Associate at the National Bureau of Economic Research. He is an associate editor of the Journal of Finance and the Journal of Financial Economics. He earned his Ph.D. in Business Economics from Harvard University. UDAY KOTAK is the vice-chairman and managing director of Kotak Mahindra Bank. Uday Kotak has many achievements to his credit. He is an astute business leader who is known for his well researched and entrepreneurial decisions. He set up the Kotak Capital Management Finance Ltd. (which later became Kotak Mahindra Finance Ltd.). In March 2003, Kotak Mahindra Finance Ltd. became the first company in India s corporate history to be converted into a bank. Uday has to his credit many international achievements. He was awarded the CNBC TV18 Innovator of the award in 2006, Ernst & Young Entrepreneur of the year award in He was featured as one of the Global leaders for tomorrow at the World Economic Forum s annual meet at Davos in He has been recently named as CNBC Asia s Business Leader of the year Among other things, he is on the Board of ICRIER and Indian School of Business (ISB) Hyderabad. Uday Kotak Vice-Chairman and Managing Director Kotak Mahindra Bank 11

13 K. P. Krishnan Secretary Prime Minister's Economic Advisory Council (EAC) K.P. KRISHNAN is currently Secretary to the Prime Minister's Economic Advisory Council (EAC). Until recently he worked as Joint secretary, Capital markets in the Finance ministry. Dr Krishnan, who belongs to the 1983 Indian Administrative Service (IAS) batch, had earlier worked as managing director, Karnataka Urban Infrastructure Development and Finance Corporation, and secretary for Urban Development and secretary for Finance Department, government of Karnataka. He has also worked as advisor to the executive director of the World Bank in Washington DC. He received his Ph.D. (Eco) from IIM Bangalore and M.A. (Eco) from University of Mysore. He has carried out extensive research in the area of financial sector including role of financial intermediaries in financing sub national governments and targeting financial education campaigns to vulnerable groups and has presented his work in national and international seminars/conferences. ANNE O. KRUEGER is Professor of International Economics at the Johns Hopkins University. She was first deputy managing director of the International Monetary Fund; was Herald L. and Caroline L. Ritch Professor in Humanities and Sciences and founding director of the Center for Research on Economic Development and Policy Reform at Stanford University and a Hoover Institution senior fellow. She taught at Stanford, University of Minnesota and Duke University; was World Bank vice president for economics and research; past president and distinguished fellow of the American Economics Association; member of the National Academy of Sciences, American Academy of Arts and Sciences and American Philosophical Society; fellow of the Econometric Society; senior research associate of the National Bureau of Economic Research. She earned her Ph.D. in Economics from University of Wisconsin. Professor Krueger's publications include: Economic Policy Reform and the Indian Economy, editor (2003); Latin American Macroeconomic Reform: The Second Stage, co-editor (2003); Reforming India's Economic, Financial and Fiscal Policies, co-editor (2003). Anne O. Krueger Professor of International Economics Johns Hopkins University 12

14 Deepak Lal Professor International Development Studies University of California DEEPAK LAL is the James S. Coleman Professor of International Development Studies at the University of California at Los Angeles, professor emeritus of political economy at University College London, and a senior fellow at the Cato Institute. He was a member of the Indian Foreign Service ( ) and has served as a consultant to the Indian Planning Commission, the World Bank, the Organization for Economic Cooperation and Development, various UN agencies, South Korea, and Sri Lanka. From 1984 to 1987 he was research administrator at the World Bank. Professor Lal is the author of a number of books, including The Poverty of Development Economics; The Hindu Equilibrium; Against Dirigisme; The Political Economy of Poverty, Equity and Growth; Unintended Consequences: The Impact of Factor Endowments, Culture, and Politics on Long-Run Economic Performance; and Reviving the Invisible Hand: The Case for Classical Liberalism in the 21st Century. RAJIV B. LALL joined IDFC as its MD and CEO in January An economist, educated at the Universities of Columbia and Oxford, he has over two decades of experience with leading global investment banks; multilateral agencies and academia. Rajiv B. Lall His areas of expertise include private equity/ venture capital; international capital markets; trade and industrial policy issues; and project finance including a focus on India and China. Prior to joining IDFC, Dr. Lall was a Partner with Warburg Pincus. From 1995 to 1997, he was Executive Director and Head, Asian Economic Research, with Morgan Stanley Asia Limited, Hong Kong. He was with the World Bank, Washington, from 1988 to 1995 where he focused on policy issues confronting the Chinese economy and advised the Bank on lending strategy, and macroeconomic and trade policy issues. MD and CEO IDFC 13

15 John Lipsky JOHN LIPSKY is presently First Deputy Managing Director of the International Monetary Fund. Before coming to the Fund, Mr. Lipsky was Vice Chairman of the JP Morgan Investment Bank. In this position, he advised the firm's principal market risk takers, published independent research on the principal forces shaping global financial markets, was actively engaged with JP Morgan's key clients, and represented the firm around the world with senior public and financial sector decision makers. Previously, Mr. Lipsky served as JP Morgan's Chief Economist, and as Chase Manhattan Bank's Chief Economist and Director of Research. A graduate of Wesleyan University, Mr. Lipsky earned a bachelors degree in economics. Subsequently, he was awarded an M.A. and a Ph. D. in economics from Stanford University. First Deputy Managing Director IMF PRATAP BHANU MEHTA is President, Center for Policy Research, New Delhi. He is also a participant in the Global Faculty Program of NYU Law School. He was previously Visiting Professor of Government at Harvard University. He was also Professor of Philosophy and of Law and Governance at Jawaharlal Nehru University, and has held a visiting appointment at the University of Pennsylvania. His areas of research include political theory, constitutional law, society and politics in India, governance and political economy, and international affairs. He has a Ph. D. in Politics from Princeton University. He has done extensive public policy work. He was Member-Convener of the Prime Minister of India s National Knowledge Commission; has authored a number of papers and reports for leading Government of India and International Agencies, including the World Bank, UNRISD, and DFID. Pratap Bhanu Mehta President Center for Policy Research 14

16 Sunil Mehta Country Head and CEO AIG SUNIL MEHTA is the Country Head and CEO of American International Group (AIG) Inc. India, since April He is also the President of the Indo-American Chamber of Commerce. As Country Head and CEO, Mr. Mehta has the responsibility for all AIG's interests in India covering insurance, financial services, and investments. Prior to joining AIG, he worked with Citibank for over 17 years where he held various senior positions. His last assignment was the Head of Corporate Bank in India and Senior Credit Officer. He is the immediate past Chairman of American Chamber of Commerce in India and served on the National Executive Board for over eight years. Mr. Mehta is engaged in several community development projects. He is Vice-Chairman of United Way of Mumbai and on the endowment board of Spastic Society of North India. He graduated from University of Delhi with Honours in Bachelor of Commerce. He is also an alumnus of The Wharton School of Management, University of Pennsylvania. SHIVSHANKAR MENON is National Security Advisor to the Prime Minister of India since 23 January, Shivshankar Menon Menon was previously Foreign Secretary of India from October 2006 to August He has served as Ambassador and High Commissioner of India to Israel ( ), Sri Lanka ( ), China ( ) and Pakistan ( ). He was also a member of the Atomic Energy Commission in As a career diplomat, he served in China (thrice), in Japan, and in Austria in the Embassy and the Mission to the IAEA and UN. He was seconded to the Department of Atomic Energy in the early eighties. His professional experience included India s relations with her neighbours, atomic energy and disarmament issues, and India s relations with the major powers. Menon speaks Chinese and some German. He is an M.A. in ancient history from Delhi University. He is married to Mohini, and has two children. National Security Advisor Prime Minister of India 15

17 Rakesh Mohan Professor Yale University RAKESH MOHAN is a Professor in the Practice of International Economics of Finance, School of Management, and Senior Fellow, Jackson Institute of Global Affairs, Yale University from July He is also Non Resident Senior Research Fellow of Stanford Centre for International Development, Stanford University Stanford. He is Chairman, National Transport Development Policy Committee, Government of India, in the rank of Minister of State. In addition, he is Vice-Chairman, Indian Institute of Human Settlements; and Global Adviser, McKinsey and Company. During June 15, 2009 to December 15, 2009, he was Distinguished Consulting Professor at Stanford Centre for International Development at Stanford University. Prior to this, he was Deputy Governor of the Reserve Bank of India (September, 2002 to October, 2004 and July, 2005 to June, 2009). His latest book is India s Economy: Performance and Challenges, published by the Oxford University Press in T. N. NINAN is Editorial Director and Chairman of Business Standard and prior to that he was editor and publisher of the same business daily. He was previously editor of The Economic Times and was responsible for establishing it as a leading financial daily, setting new trends in business journalism that can still be seen today. T. N. Ninan Mr Ninan today is one of the country's most respected economic editors. His sharp and incisive commentaries on the Budget are a much-awaited feature of the annual business calendar. His weekly column "Weekend Ruminations" is widely read among the business community, senior economists, and economic bureaucrats. Editorial Director and Chairman Business Standard 16

18 Baijayant J. Panda BAIJAYANT J. PANDA is a member of the lower house of Indian Parliament (Lok Sabha). He represents Kendrapara constituency in Orissa. He was elected to Upper House twice from Orissa and was leader of the Biju Janta Dal (BJD). Panda graduated from the Michigan Technological University and, with a background in Engineering and Management, worked in the corporate sector before joining politics. In his earlier corporate career Panda was active in industry organisations like the Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI), and the International Chromium Development Association. In the past he has also been associated with the Government of Orissa s Industrial Advisory Committee and has been a Director on the Industrial Promotion and Investment Corporation of Orissa (IPICOL). Member Lok Sabha ILA PATNAIK is a Senior Fellow at National Institute of Public Finance and Policy. She has a Ph.D. in Economics from University of Surrey, Guildford (UK) and did her Masters in Economics from Jawaharlal Nehru University, New Delhi. Her main area of interest is open economy macroeconomics. This includes issues related to capital flows, exchange rate policy, monetary policy, business cycles, and the financial sector. Ila Patnaik Prior to this she has worked as Economic Editor at the Indian Express, Senior Economist, National Council of Applied Economic Research, Senior Fellow, Indian Council for Research in International Economic, and as Lecturer in University of Delhi. She was awarded the IMF-GDN Fellowship, 2002, and British Nehru Centenary Fellowship for Doctoral study in Economics, Senior Fellow NIPFP 17

19 Rajendra S. Pawar Chairman and co-founder NIIT Group RAJENDRA S. PAWAR is Chairman and co-founder of the NIIT Group that encompasses two businesses NIIT Technologies Limited, the software and services arm and NIIT Limited, the leading Global Talent Development Corporation. By pioneering NIIT s innovative franchising model, he enabled the company to unleash a wave of entrepreneurship across the globe, providing young people with the opportunity to create viable businesses centered on IT learning. He is a member of the Planning Commission s Task Force on Skill Development and has also served on the Prime Minister's National Task force, which aimed at making India an IT Superpower by He graduated from the IIT, Delhi in 1972 where he pursued the B. Tech programme in electrical engineering and received the Distinguished Alumnus Award of IIT in NANCY QIAN is Assistant Professor of Economics at Yale University. She was earlier Assistant Professor of Economics at Brown University. She holds a Ph.D. in Development Economics from the Massachusetts Institute of Technology. Her research interests include Development Economics, Labor Economics, Political Economy, and Economic History. Nancy Qian She has published several papers in top economic journals, including Missing Women and the Price of Tea in China: The Effect of Sex-Specific Income on Sex Imbalance, in The Quarterly Journal of Economics, Income Inequality and Progressive Income Taxation in China and India, (with Thomas Piketty) in the American Economic Journal. She is Associate Editor of Journal of Development Economics ( ). Assistant professor of Economics Yale University 18

20 Raghuram G. Rajan RAGHURAM G. RAJAN is the Eric Gleacher Distinguished Service Professor of Finance at the Graduate School of Business, University of Chicago. Prior to this, he was the Economic Counsellor and Director of Research at the International Monetary Fund between 2003 and He has also has been a visiting professor at MIT, Northwestern University, and the Stockholm School of Economics. His research spans a variety of areas including financial institutions, corporate structure and economic development. In 2003, Rajan was awarded the inaugural Fischer Black Prize by the American Finance Association for contributions to finance by an economist under 40. Rajan is an electrical engineering graduate from the Indian Institute of Technology in Delhi. He got his MBA from the Indian Institute of Management, Ahmedabad, and his Ph. D. from MIT. Professor of Finance Graduate School of Business University of Chicago N.K. Sethi is Senior Adviser (Health), Planning Commission, Government of India, New Delhi. He was formerly Director at National Institute of Health and Family Welfare (NIHFW), New Delhi. He is a Medical graduate from University of Delhi and has done his M.D. in Preventive and Social Medicine from AIIMS. He has more than three decades of experience in the field of Public health in India and abroad. N.K. Sethi Dr. Sethi has held teaching position at AIIMS, University of Delhi, Professor and Dean at NIHFW, guest faculty at University of Liverpool, and many other Indian institutions. He has more than 80 research papers, reports, review articles and book chapters to his credit. Senior Adviser (Health) Planning Commission 19

21 Ajay Shah Senior Fellow NIPFP AJAY SHAH is a Senior Fellow at the National Institute of Public Finance and Policy (NIPFP), New Delhi. Before this he has worked as a Consultant, Department of Economic Affairs, Ministry of Finance, New Delhi ( ), Associate Professor at IGIDR, Bombay (2001) and Assistant Professor, IGIDR, Bombay ( ). He has also held the post of President of CMIE, Bombay ( ) and worked as a Consultant for Rand Corporation, Santa Monica ( ). His current areas of interest are Financial Sector, Banking Sector and Interest Rate Regimes. He is also on the Board of Director of various Institutions. He has a Ph.D. in Economics from University of Southern California, Los Angeles and B. Tech. in Aeronautical Engineering from I.I.T. Bombay. He was awarded the Skoch Challenger Award for The Parallel Risk Management (PRISM) project for his innovative ICT initiatives (2004) and honorary Certified Financial Planner (CFP) by the Association of Financial Planners (AFP) (2004). ANIL SHARMA is a Senior Fellow at the National Council of Applied Economic Research (NCAER), New Delhi. He has been a Visiting Researcher at the International Trade Division, The World Bank, Washington D.C. USA, Consultant to the Organisation for Economic Co-operation and Development (OECD), Paris and Food and Agriculture Organisation (FAO), Rome, and a Post Doctoral Fellow, Research Institute for Agricultural Economics, Budapest, Hungary. Anil Sharma His main areas of research include The WTO Agreement on Agriculture, Economic and Policy Reforms in Agriculture, Price Policy and Price Stabilisation Mechanisms, Rural Credit, Rural Infrastructure and Rural Poverty. He had been advising the Ministry of Commerce and Industry on trade negotiations in agriculture under the WTO Agreement on Agriculture (from 1998 to 2009) and has been a member of several government and industry committees and task forces. Senior Fellow NCAER 20

22 Parthasarathi Shome Chief Executive and Director (Designate) ICRIER PARTHASARATHI SHOME is the Chief Executive and Director (Designate) ICRIER. Until recently he has been the Chief Economist of Her Majesty s Revenue & Customs (HMRC) in the United Kingdom. Prior to that he was advisor to the Finance Minister ( ). His main contribution during his stint in the finance ministry has been his work that paved the way for introduction of the value-added tax at the state level. He is also considered as the chief architect behind certain innovative taxes like fringe benefit tax (FBT) and Banking Cash Transaction Tax (BCTT). He also played a key role in the introduction of new concepts like large taxpayer units (LTU) in the country. He served at the IMF between 1983 and 2004 in various senior positions in the Fiscal Affairs Department, Office of the Managing Director, and the Asian Department, including Chief, Tax Policy Division ( ). In 2000 he was the first Indian to be awarded the highest civilian honor of the Brazilian Government for a non-brazilian as "Commander of the Order of the Southern Cross" for his contributions to tax reform in Brazil. SCOTT STERN is Professor of Technological Innovation, Entrepreneurship, and Strategic Management at the MIT Sloan School of Management. Professor Stern is the co-organiser of the NBER Innovation Policy and the Economy Working Group and a Senior Fellow of the Searle Center on Law, Regulation and Economic Growth. He is an Associate Editor of Management Science, the Journal of Industrial Economics, and the International Journal of Industrial Organisation. Scott Stern In 2005, Stern was awarded the first Ewing Marion Kauffman Prize Medal for Distinguished Research in Entrepreneurship. Stern explores how innovation the production and distribution of "ideas" differs from more traditional economic goods, and the implications of these differences for business and public policy. He received his Ph.D. in Economics from Stanford University in Professor MIT Sloan School of Management 21

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