He graduated from Sydenham College, Bombay University, with a Bachelor of Commerce, proceeded to Kings College Cambridge for a Bachelor in Economics where Nicholas Kaldor was his supervisor. His student contemporaries included Jagdish Bhagwati and Manmohan Singh.
He received the Doctor of Philosophy in Economics of Cambridge University in 1963 for a thesis on German economic growth before World War I, titled "Real Wages in Germany 1871–1913", done under supervision of Phyllis Deane. He has been a noted economic journalist and private business consultant in India, and was also Chief Consultant in the Indian Ministry of Finance in 1991–1993 under Manmohan Singh"s ministership.
