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Bimal Jalan is one of India’s well-known economists. He was Governor of the Reserve Bank of India from 1997 to 2003, demitting office on his nomination to the Upper House of Parliament by the President for distinguished service to the country. He has held several top positions in the ministries of finance and industry and in the Planning Commission. He was also Chairman of the Economic Advisory Council to the Prime Minister and represented India on the boards of the Internation Monetary Funds and the World Bank im Washington DC. his recent publications includes India’s Economic Crises: The Way Ahead (Oxford University press 1991) and, as editor ,The Indian Economy: Problems and prospects (Penguin 1993) Bimal Jalan was educated at Calcutta, Cambridge and Oxford Universities.