The Centre for Civil Society (CCS), in collaboration with the Economics Research Centre (ERC), successfully hosted the B. R. Shenoy Memorial Lecture 2025 in New Delhi. This year’s lecture was delivered by eminent economist Prof. Arvind Panagariya, Chairman of the Sixteenth Finance Commission of India and Professor of Economics at Columbia University on the topic “Nehru-Era Economic History and Thought and Their Lasting Impact”.
Prof. Panagariya revisited India’s early economic policy making under Prime Minister Jawaharlal Nehru and critically examined the divergence between centralized planning and the liberal economic ideas championed by Prof. B. R. Shenoy.
This lecture is part of the annual BR Shenoy Memorial Lecture Series, which aims to commemorate Prof. Shenoy's ideas and policies through talks by speakers from India and abroad, including leading academics, policy experts, and public officials. Our past speakers were:
In 2024 Dr. Pravin Krishna, Chung Ju Yung Distinguished Professor of International Economics and Business at Johns Hopkins University
Watch: • BR Shenoy Memorial Lecture 2024 | Dr Pravi...
In 2023 Dr Surjit Bhalla, Economist and former Executive Director, IMF
Watch: • BR Shenoy Memorial Lecture 2023 | Dr Surji...
In 2022 Dr. Duvvuri Subbarao, Ex-Governor RBI
Watch: • BR Shenoy Memorial Lecture 2022 | Dr. Duvv...
In 2021 Montek Singh Ahluwalia, the Economist and Author
Watch: • BR Shenoy Memorial Lecture 2021 | Montek S...
In 2020 Dr Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister (EAC-PM)
Watch: • BR Shenoy Memorial Lecture 2020 | Dr Bibek...
About the Speaker:
Arvind Panagariya is the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and former Vice Chairman of NITI Aayog (2015 - 17). A Padma Bhushan awardee, he has also been Chief Economist at the Asian Development Bank and held roles at the World Bank, IMF, and UNCTAD. He holds a Ph.D. in Economics from Princeton University.
About Centre for Civil Society:
The Centre for Civil Society (CCS), founded in August 1997, is a leading public policy think tank dedicated to advancing individual liberty, limited government, and market-based solutions. Its work spans critical areas such as education reform, livelihood freedom, and regulatory governance, with a focus on promoting individual choice, institutional accountability, and economic opportunity.
Over the past 27 years, CCS has established a distinctive presence in India’s policy landscape through evidence-based research, institutional advocacy, and capacity-building initiatives.
About Economics Research Centre:
The Economics Research Centre (ERC), established in 1967 by distinguished economist Prof. B.R. Shenoy, revived in 2012, is a public policy think tank based in Mangalore. Committed to advancing liberal economic thought, ERC conducts rigorous research, organizes public seminars, and engages with students, citizens, and policymakers to address economic challenges. Its mission is to promote market-based solutions, individual freedom, and good governance in India’s evolving policy landscape through re-education and informed dialogue.
Transcripts of BR Shenoy Memorial Lectures are available here: https://erc.org.in/home/professor-b-r...
00:00 - 04:17 Introduction of the speaker
04:18 - 57:57 Lecture by Prof Arvind Panagariya
58:04 - 1:37:29 Q & A Session
1:37:30 - 1:38:20 Vote of Thanks
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