Bibek Debroy (1955-2024): A visionary economist who shaped India’s policy landscape

Bibek Debroy, a revered economist, Sanskrit scholar, and chairman of the Economic Advisory Council to Prime Minister (EAC-PM), passed away on Friday at the age of 69. His death marks the loss of one of India’s most respected voices in economics and policy. Throughout his career, Debroy was known for his sharp intellect, versatility, and dedication to the growth and transformation of India’s economy. His passing leaves an irreplaceable void in India’s academic and policymaking circles.

In his last column for The Indian Express, published just four days before his passing away, Bibek Debroy shared introspective thoughts that now serve as a poignant farewell.

"There is a world outside that exists. What if I am not there? What indeed?"

"In another ten years, what social value will I bring? Can it be measured, quantified, imputed for? I give up the thought, too complicated. There are lives my life has touched, improved, even bruised. If they get to know, they may remember, with fondness and bitterness. Such people don’t write obituaries."

"No social loss, not much. Private loss is possible. To whom? My sons have been abroad after graduating from school, more American now than Indian."

Born in Shillong in 1955, Debroy’s early life and education laid the foundation for his illustrious career. A brilliant student, he attended Presidency College, University of Calcutta, and Trinity College, Cambridge. His academic rigour and deep understanding of economics propelled him into prestigious roles at institutions such as the National Council of Applied Economic Research, Rajiv Gandhi Institute for Contemporary Studies, and Centre for Policy Research. His insights and work on India’s macroeconomic policy were instrumental in shaping the course of economic reforms, particularly in promoting deregulation and modernisation of the financial and social sectors.

Debroy’s influence reached its peak when he was appointed the chairman of EAC-PM. Under his guidance, the council worked to address critical issues such as sustainable economic growth, employment generation, and economic inclusivity. Known for his bold ideas, he championed reforms that promoted infrastructure development, digital transformation, and increased transparency in public spending. Debroy believed in fostering India’s competitive edge on the global stage while advocating for policies that prioritised social welfare and equity within the country.

In recognition of his exceptional contributions, Debroy was awarded Padma Shri, one of India’s highest civilian awards. His contributions, however, extended beyond economics. A polymath, he was an accomplished Sanskrit scholar and dedicated himself to translating India’s epic texts, including the Mahabharata and Ramayana, making them accessible to modern audiences. His translations became popular for their clarity and faithfulness to the original texts, showcasing his profound commitment to preserving India’s cultural heritage.

He also authored numerous books and research papers on topics ranging from taxation to infrastructure, firmly establishing himself as a thought leader. He was respected not only for his economic acumen but also for his clear communication style, which made complex economic concepts comprehensible to the public. Through his writings, speeches, and public engagements, Debroy reached a broad audience, from policymakers to students, inspiring a generation of economists and academics.

Beyond his professional life, Debroy was known for his humility and approachability. Those close to him often spoke of his deep compassion, quick wit, and generosity with his time and knowledge. His profound sense of purpose was evident in his unwavering commitment to India’s economic and cultural renaissance.

He is survived by his family and an extensive network of colleagues, students, and admirers. As India reflects on his legacy, his contributions will continue to influence economic thought and policy for years to come. He will be remembered as a guiding light in Indian economics, a preserver of culture, and a visionary who championed India’s progress.