Noted economist Sharad Marathe dead

Pune. Sep 28 (UNI) Noted Economist and former Union secretary Sharad S Marathe died here today after a heart attack at his residence. He was 86.

Marathe was one of the senior members of the Indian Economic Service since its inception. He retired in October, 1980 as secretary in the ministry of Industry in the department of Industrial development.

Born on October 1, 1922 in Pune, He was educated in the city and later at the London School of Economic and Political Science.

Marathe was the Chairman Bureau of Industrial Costs and prices, Government of India till May 1977. He was also Alternate Executive Director for India on International Monetary Fund and concurrently Minister for Economic and Commercial Affairs, Embassy of India, Washington, from February 1969 to October 1972.

He was the Economic Advisor to the government of India from 1964 to 1968. He has had wide experience in the field of finance and Industry and was the first Chairman of Industrial Development bank of India (IDBI) Bombay, and Chairman of the National Productivity Council, New Delhi.

He also headed several committees including Fertilizer Prices Committee, Committee on Indirect Taxation, Committee on Drugs and Pharmaceuticals, and was also a member of the Electronics Commission, and the National Committee on Science and Technology.

Marathe represented India as Leader of several delegations.

After retirement, he became a Visiting Professor at the Centre for Police Research, New Delhi, and a member of the Investment Advisory Committee of Army Group Insurance Scheme.

Marathe had been on the Board of Directors of several companies including Voltas, L&T, Glaxo, Sandvik Asia, Kirloskar Brothers, Bharat Forge, Force Motors, Finolex Industries, Deepak Fertilisers and Petrochemicals Corporation. He was also the Chairman of the Board of Directors of state Industrial and Investment Corporation Maharashtra Ltd for almost a decade.

Marathe also served as a Chairman of local Board of the Reserve Bank of India for Western Region and Director of the Central Board of the Bank for 10 years.

He contributed several articles to economic journals.

His book '' Regulation and Development- India's Police Experience of controls over Industry'' was published by SAGE Publications, Beverly Hills, California. He was C D Deshmukh Professor at the National Insurance Academy Pune for two years.

He is survived by his wife Mrunali and two married daughters. The funeral will take place late this evening at Vaikunth Crematorium ground.

B G Deshmukh, former Bureaucrat, offered condolence on the death of Marathe. He said Marathe was a reformist, who initiated many reforms in the ministry of Finance.

UNI SP OBB SKB ARB VC2005