FM condoles death of Dr. I.G. Patel
The Finance Minister has condoled the death of former Governor of Reserve Bank of India, Dr. I.G. Patel, who passed away on Sunday. In a condolence message sent to Mrs. Patel and his daughter on his behalf and on behalf of his colleagues in the Ministry of Finance while deeply mourning this loss, Shri P. Chidambaram said “Dr. Patel’s legacy of reforms with the common citizen at its core, will continue to guide economic policy making for many years.”
He said that Dr. Patel was a brilliant economist and educationist, and a towering figure in Indian policy making for many years. Dr. Patel steered the country’s policy adroitly in its formative stages, and especially when it faced balance of payments difficulties. He did so in many capacities; as Chief Economic Advisor, as Secretary (Economic Affairs) and as RBI Governor.
The Finance Minister said that Dr. Patel was the first Indian to hold the prestigious office of Director, London School of Economics. After his return, he was always ready to proffer his valuable time and the advice to the Government and to the Reserve Bank of India whenever called upon to do so. He was a pragmatic and wise economist with an abiding interest in growth with equity and social justice, Shri Chidambaram added.
BSC/BY/DN-263/05