The Prime Minister, Dr. Manmohan Singh, has condoled the passing away of Prof Amaresh Bagchi. The PM in his condolence message described Prof Bagchi as one of our most distinguished and influential fiscal policy experts. The text of the PM's condolence message is as follows:

"I learnt with profound sadness the news of the passing away of Prof. Amaresh Bagchi. I had the privilege of knowing him for a long time in various capacities.

Prof. Bagchi was one of our most distinguished and influential fiscal policy analysts and experts. He has left a lasting imprint both in the field of academic research in fiscal policy as well as on public policy formulation. It is no exaggeration to state that Amaresh has been associated with almost every major fiscal policy reform of the past thirty years. As Member of the Finance Commission, he contributed to major policy initiatives in the field of Centre - State Finances. In his passing away, the country loses the experience and knowledge of one of our most distinguished fiscal policy experts. Prof. Amaresh Bagchi was a true nationalist and a patriot deeply committed to the welfare of our people.

I wish to convey my heartfelt condolences to Smt. Ratna Bagchi and to his children and other members of his family and his many students, colleagues and friends."