K. N. Raj

Who was K. N. Raj?

Kakkadan Nandanath Raj was born in Thrissur District of Kerala. He is popularly known as K. N. Raj, an Indian economist who played an important role in India's planned development, drafting sections of India's first Five Year Plan, specifically the introductory chapter when he was only 26 years old. He was a veteran economist in the Planning Commission. He worked out a plan to raise India's rate of savings in the post-Second World War period when the country was in need of foreign aid. He computed India's Balance of Payments for the first time for the Reserve Bank of India. Raj was an advisor to several prime ministers from Jawaharlal Nehru to P.V. Narasimha Rao. Dr. Raj was a Keynesian economist. He studied the application of Keynesian monetary theory in Indian context.