Radhika Pandey Economist Teacher & Policy Voice Dies at 46

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By DXB News Network

Economist, writer, and policy researcher Radhika Pandey, an associate professor at the National Institute of Public Finance and Policy (NIPFP), passed away on Saturday at the Institute of Liver and Biliary Sciences (ILBS) in New Delhi. She was just 46.

Her death comes as a deep loss to India’s academic, economic, and policy-making community. Pandey had recently undergone an emergency liver transplant surgery following acute liver failure caused by jaundice. Yet, even in her final days, she remained dedicated to her work.

A Career Rooted in Research and Policy Impact

Pandey’s career spanned over two decades in macroeconomics, public policy, and teaching. Before joining NIPFP in 2008, she taught finance, law, and regulation as a professor at the National Law University (NLU), Jodhpur. Her academic journey began with a B.A. in economics from Banaras Hindu University, followed by her M.A. and PhD from Jai Narain Vyas University (formerly University of Jodhpur).

Her expertise lay not only in economic theory but also in designing frameworks that shaped Indian financial policy. One of her most influential contributions was her working paper on inflation targeting, which informed the Reserve Bank of India’s (RBI) policy frameworks.

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“There are so many policies of the Indian government where you can see Radhika’s influence and research,” said Ila Patnaik, Chief Economist at the Aditya Birla Group and Pandey’s long-time collaborator. “It is a tremendous loss for the community, and for me personally.”

Policy Work Beyond Academia

Pandey was deeply involved in real policy making. She served as the lead coordinator for the Task Force for Public Debt Management Agency, formed by the Ministry of Finance in 2014. Her research portfolio covered a wide array of topics, including bond markets, public finance, the carbon border adjustment mechanism (CBAM) tax, and business cycles.

She also contributed to India’s Financial Sector Legislative Reforms Commission (FSLRC) in 2011, working with a team led by Justice B.N. Srikrishna, and was part of the ‘Working Group on Foreign Investment’ led by former civil servant U.K. Sinha.

A Powerful Public Voice in Economics

Since 2021, Pandey had been a regular columnist for ThePrint, writing the popular weekly article and video series MacroSutra, which simplified complex economic and financial topics for the public. Her videos and columns were widely appreciated for their clarity and real-world relevance.

Mandar Kagade, founder-principal at Black Dot Public Policy Advisors, described her as a “great communicator”. “She was one of the only people I went to for any query about financial policy, regulations, or macroeconomics,” he said.

Patnaik echoed similar sentiments, highlighting that Pandey went beyond academic research to engage with citizens directly, explaining policies in simple terms to make economics accessible.

“She wasn’t just doing research; she was talking about it to the public. Her MacroSutra videos reached so many people,” Patnaik said.

Dedication Until the End

Pandey’s dedication to her work was so profound that she recorded her last MacroSutra video from her hospital bed, despite her critical condition. Patnaik recalled visiting her and urging her to rest, but Pandey insisted on completing her responsibilities. “That was her dedication to her work. You don’t find such people in today’s world,” Patnaik said.

An Irreplaceable Loss

Radhika Pandey’s death has left a void not only in academic and policy circles but also among students, colleagues, and readers who followed her work for insights into India’s economic landscape. Her ability to combine academic rigour with practical policy application set her apart.

In an era when public debates on economic policy are often inaccessible or politicised, Pandey’s clarity, precision, and empathy made her a unique voice. She championed evidence-based policymaking and taught countless students to think critically about finance, regulation, and development.

Her legacy will continue through the frameworks she helped build, the policies she influenced, and the students and readers she empowered with knowledge. As India grapples with evolving economic challenges, her absence will be deeply felt.