......Dr. Raj, who hailed from Thrissur, made a name for himself computing India’s balance of payments for the first time for the Reserve Bank of India (RBI) and being a co-author of and writing a foreword to the First Five Year Plan document. Dr. Raj played a major role in raising India’s rate of savings. He and his colleagues drew up a 20-year perspective of increasing the rate of savings from 5 per cent in 1950-51 to 20 per cent by 1970-71.............
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