Shamika Ravi

Shamika Ravi
Member of the Economic Advisory Council to the Prime Minister (EAC-PM)
Incumbent
Assumed office
2023
Secretary to the Government of India
Incumbent
Assumed office
February 2023
Personal details
Born
Patna, Bihar, India
Alma materLady Shri Ram College, Delhi
New York University, New York
OccupationEconomist

Dr. Shamika Ravi is an Indian economist and public policy researcher. She currently serves as a member of the Economic Advisory Council to the Prime Minister and as a Secretary to the Government of India. Her research focuses on public policy issues such as healthcare, gender equality, poverty alleviation, and economic development.[1][2]

Early life and education

Ravi is the daughter of R. N. Ravi, she was born in Patna, and raised in Kerala, India. She completed her undergraduate degree from Lady Shri Ram College, Delhi, in 1996.[3] She later attended the Delhi School of Economics and received her Ph.D. in economics from New York University.[4]

Academic career

Ravi joined the Indian School of Business (ISB) in 2005 as a visiting faculty member, later becoming an assistant professor and eventually a professor of economics.[5] She has taught courses in managerial economics, game theory, and microfinance.

Her research includes studies on health financing, women’s political participation, and financial inclusion. She co-authored the report Health and Morbidity in India (2004–2014), which analyzed the economic impact of public health insurance programs.[6] Her academic work has appeared in journals such as the World Development, Journal of Urban Economics, and Journal of Development Economics.[7]

Policy roles and public engagement

Ravi has held multiple advisory and research roles:

She is a regular contributor to Indian media outlets and has authored opinion pieces in newspapers such as The Indian Express, Mint, and The Hindu, focusing on data-driven policymaking and development economics.[9]

Research and views

Ravi’s work on gender and politics has examined women’s representation and voting behavior in Indian elections. She has advocated for targeted reservation policies based on empirical evidence of political exclusion.[10] She has publicly opposed the use of randomized quotas, favoring a compensatory justice approach to policy design.

Her views on global trade have emphasized the need for India to balance protectionism with liberalization, particularly in light of international trade tensions.[11]

Her contributions are also featured in edited volumes such as Economic Reasoning and Public Policy Case Studies from India published by RIS.[12]

Media and public discourse

Ravi frequently appears in public policy forums, academic panels, and national media, focusing her commentary on economic development challenges, data governance, health systems, and evidence-based structural reforms. She is a regular columnist for major news and media platforms, including writing on macroeconomic strategy and historical comparisons in outlets like The Indian Express.[13] Her insights and profile have been featured across multiple media programs and platforms, including SheThePeople, Open Magazine, and the Asia Society.[14][15]

Commentary on exchange rates and inflation

In June 2026, amid geopolitical tensions in West Asia and global crude oil supply disruptions that caused the Indian rupee (INR) to face downward pressure against the US dollar (USD), Ravi's commentary on exchange rate policy drew significant public and media attention. Speaking on an ANI podcast, she dismissed the psychological significance of the currency approaching the triple-digit threshold, stating, "So what? 100 is just a number".[16]

Ravi argued that an exchange rate should be market-determined and function as a natural "adjustment mechanism" or safety valve to absorb external supply-side shocks. According to her framework, artificial interventions by the government or the Reserve Bank of India (RBI) to defend an arbitrary currency level are counterproductive and run the risk of introducing severe inflationary pressures and domestic market distortions. She maintained that the state's economic focus should prioritize overall macroeconomic stability, fiscal prudence, and managing demand through the curb of wasteful consumption, rather than fixating on a symbolic exchange rate milestone.[17]

While Ravi defended the policy by asserting that India's broader economy remained in a phase of sustained high growth, her comments sparked public debate and drew criticism from opposition figures, market analysts, and social media commentators. Critics argued that downplaying a weakening currency overlooks the immediate, real-world consequences on the general public, specifically regarding higher import bills, increased prices for everyday essentials, costlier fuel, and reduced household purchasing power.[18]

See also

References

  1. 1 2 "Shamika Ravi". Observer Research Foundation. Retrieved 10 May 2025.
  2. ↑ "Shamika Ravi appointed to PM's Economic Advisory Council". Hindustan Times. 20 July 2023. Retrieved 10 May 2025.
  3. ↑ "Prof. Shamika Ravi". W20 India. Retrieved 10 May 2025.
  4. 1 2 "Dr. Shamika Ravi". Economic Advisory Council to the Prime Minister. Retrieved 10 May 2025.
  5. ↑ "Shamika Ravi - ISB Profile". Indian School of Business. Retrieved 10 May 2025.
  6. ↑ "Health and Morbidity in India (2004–2014)" (PDF). Brookings Institution. Retrieved 10 May 2025.
  7. ↑ Ravi, Shamika (2021). "Institutional Corruption in Indian Politics: An Empirical Analysis". Journal of Development Economics. 148: 101–115.
  8. 1 2 "Shamika Ravi". International Growth Centre. Retrieved 10 May 2025.
  9. ↑ Shamika Ravi (4 November 2022). "India's hidden burden of health debt". The Indian Express. Retrieved 10 May 2025.
  10. ↑ Masoodi, Ashwaq. "Women can impact outcome, they vote differently from men: Shamika Ravi". Mint. Retrieved 10 May 2025.
  11. ↑ Punj, Shweta (12 March 2025). "Trump tariff threats present opportunity for India: Shamika Ravi". Moneycontrol. Retrieved 10 May 2025.
  12. ↑ "Economic Reasoning and Public Policy Case Studies from India" (PDF). RIS India. Retrieved 10 May 2025.
  13. ↑ "For India's complex, growing economy, a lesson from China's Qing dynasty". The Indian Express. 7 July 2025. Retrieved 22 September 2025.
  14. ↑ "It Is Crucial For Young Girls To See Female Mentors: Shamika Ravi". SheThePeople. 6 December 2018. Retrieved 10 May 2025.
  15. ↑ "Shamika Ravi: India's Explainer". Open Magazine. Retrieved 10 May 2025.
  16. ↑ "100 Just A Number, Priority Should Be Economic Stability: EAC-PM Member Shamika Ravi On Rupee". NDTV Profit. 2 June 2026. Retrieved 5 June 2026.
  17. ↑ "Rupee value of 100 per dollar is just a number: Shamika Ravi". Business Standard. 2 June 2026. Retrieved 5 June 2026.
  18. ↑ "'100 is just a number': EAC-PM member Shamika Ravi's take on falling Rupee sparks debate". India Today. 3 June 2026. Retrieved 5 June 2026.
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