A Brief History of Indian Economic Association

Professional bodies, like the Indian Economic Association are generally organised on the basis of voluntary initiative and co-operation. Such organisations see the light of the day mostly because of the Herculean efforts and commanding personalities of the founders and chief promoters. It is their zeal, enthusiasm and dedication which provide the necessary motive power for the healthy growth and development of such bodies. Economists all over India must and will remain grateful to all such leading persons who are mainly responsible for the present growth and stature which the Indian Economic Association has achieved through the past seventy six years of its existence.

Source Image : Indian Economic Association

The Indian Economic association from the beginning has been getting considerable support from the teachers and scholars and Economics in the universities, colleges, and other academic institutions. This has helped it to preserve the academic independence of the Association. However economists in research organisations and in government departments, financial and other institutions connected with economic matters have participated in the Association's proceedings as professional economists. The Association all along has been an all India body and has drawn in its fold economists from different parts of the country. Since the Associations's Annual Conferences attract a large number of teachers and scholars from different parts of India and discussions are conducted in a measure of professional objectivity and in a 'free for all' atmosphere, the Indian Economic Association's Annual Conferences have emerged as one of the prominent avenues for dissiminating and initiating professional thinking on scientific matters and for moulding public opinion on academic and policy issues.

It is interesting to observe from past records that Bengal, which has many firsts to its credit, is known for the starting and organising of the Bengal Economic Association in 1916. Under the auspicies of this Association, an Economic Conference was convened during the first week of January, 1916 at the Writers' Building, Calcutta, The Conference, being the first of its kind, was essentially a small gathering of leading economists, and was held in an informal manner. Among the eminent persons then present were Professors Gilbert Slater, J.C.Coyajee, H.S.Jevons, C.J.Hamilton, Dr.B.F.Madan and J.S.Chakravarti. The papers read and discussed at this conference were mainly on the then current economic problems such as currency, prices and the appreciation of silver and all of them bear an ample testimony of the lofty aims of stimulating interest in and promoting advancement of economic science in India.

This was the background against which the pioneers, who met under the Chairmanship of Prof.C.J.Hamilton of Patna College at Calcutta, decided to translate their long felt desire into reality by formally establishing the all India body of the Indian Economic Association in 1918. Ever since its establishment, the Association has been playing a pioneering role in promoting scientific study and research in all branches of economics.

Aims and Objects:

As hinted earlier, the Association being established for the 'scientific advancement of economic science in India cannot afford to be wedded to any particular economic or political ideology. Nor can it afford to subscribe to any particular views on economic issues of importance. At the best it provides a forum for professional economists and others working in the same field with the sole object of stimulating interest in the economic problems so as to help the development of sound and correct economic thinking with particular reference to the problems of this country. These aims are sought to be realised by (i) holding Annual Conferences at the university centres, (ii) publishing papers either in the Conference Number or in the quarterly journal issued by the Association, (iii) promoting economic science and dissemination of economic information, and (iv) co-operating with other institutions such as the International Economic Association having similar aims and objects and professional economic association of other countries of the world specially organisation of SAARC countries.

Membership:

Membership is open to teachers and students of economics and also to other persons interested in economic problems of this country. However, for purposes of organisation, the total membership is divided into 5 categories, viz, (a) Ordinary Members, (b) Life Members, (c) Institutional Members, (d) Donor Members, and (e) Patron Members.

Membership with effect from 1st April, 1999:

• Ordinary Member --->    Rs.200/- per annum
• Life Member        ---->    Rs.2,000/- lumpsum
• Institutional Member  -   Rs.2,000/- per annum
• Donor Member ---->       Rs.10,000/-lumpsum  
• Patron Member --->        Rs.20,000/-lumpsum

Donor Membership and Patron Membership will also be open to institutions and will run for a period of 5 years and 10 years respectively. The admission of such members would be decided by the Executive Committee.

The Constitution of the IEA:

Article I

Object:

• The object of the Indian Economic Association will be to promote the study,teaching and research in the   Economic Science in general and the Indian Economy in particular.

Article II

Functions:

2.0  The Indian Economic Association will carry out its objectives through:

2.1  Arranging Annual and other Conferences, seminars and training courses.

2.2  Undertaking publications including that of the Indian Economic Journal and otherwise disseminating the results of Economic Studies and Research among the people of the country.

2.3  Organising or facilitating exchange of Professors, students and Research specialists within the country and between India and other countries through fellowships, travel grants and other means.

2.4  Planning or promoting research programmes and projects. Co-operating with local, regional and International Economic Associations

Article III

Membership:

3.0 The Membership of the Association shall be open to those subscribing to its objects and shall consist of:

3.1 Ordinary Members;

3.2 Institutional Members;

3.3 Life Members;

3.4 Associate Members;

3.5 Donor Members;

3.6 Patron Members;

Whose conditions of admission and payment of membership dues shall be in accordance with the appropriate rules of the Association.

1. Ordinary Members would include teachers of Economics and other persons academically or professionally interested in Economics in general or in special economic problems.
2. Individuals eligible for ordinary membership shall become Life Members on payment of Life Membership fee as prescribed by the General Body at the time of enrolment in one lump sum; Institutional Members would comprise colleges, Universities, Regional Economic Associations, Research Bodies, Libraries, Government and Non-Government Agencies interested in any specialised field of theoretical or applied economics;
3. Associate Members would include students interested in economics;
4. Donor Members would include any individual or institutional members contributing the sum prescribed by the General Body, or more for the purpose;
5. Patron Members would include any individual or institutional members contributing the sum prescribed by the General Body, or more for the purpose.

Article IV

Organs:

4.0 The organs of the Association will be:

4.1 General Body;

4.2 Executive Committee and

4.3 Office Bearers

Article V

General Body:

 

5.0  The General Body will consist of all ordinary and life members and a nominee from each of the Institutional Members of the Association as defined in the appropriate rules.

5.1  The General Body will meet once a year at the time of the Annual Conference and at such time as convened by the Honorary Secretary on the direction of the President on the request of ordinary and life members.

5.2  The General Body will be responsible for:

(a)  Reviewing the programme of the Association and approving its audited accounts for the previous year.

(b)  Approving the programme and budget for the following year;

(c)  Electing the Office Bearers of the Association;

(d)  Establishing the Rules of the Association; and

(e)  Deciding on all other matters pertaining to the policy and programme of the Association.

5.3   Eligibility for Voting:

A member shall be eligible for voting provided he has been a member for two consecutive years i.e., during the current year and the preceding year. The membership for the year shall be received latest by the 1st of December of the financial year.

Article VI

Executive Committee:

6.1   (a)   The Executive Committee will consist of:

(i) All Office Bearers of the Association;

(ii) 27 members to be elected by the General Body for a 3 years' term each, with provision for   one-third of the members to retire by rotation every year in accordance with the appropriate rules.  In electing the members of the Executive Committee the General Body will ensure a wide  geographical  representation (i.e., at least one member form each State) of the different parts of the    country, bearing in mind the role of economists, teachers, researchers and practitioners.

      

(b)    Past Presidents of the Association will be Special Invitees to the Executive Committee.

(c)    The Chairman and Managing Trustee of the Indian Economic Association Trust for Research

and Development will be Special Invitees to the Executive Committee.

6.2    The Executive Committee will be responsible for:

(a)   Ensuring the smooth execution of programmes authorised by the General Body.

(b)   Preparation for meeting of the General Body.

(c)   Acting on behalf of the General Body between meetings of the General Body.

6.3    The Executive Committee will meet at least once a year at the time of the Annual Conference.

Article VII

Office Bearers:

7.0  The following shall be Office Bearers of the Association and shall be elected by the General Body at its Annual Meeting:

(a)   The President of the Conference for a period of one year.

(b)   Vice-President for a period of 3 years.

(c)   The Honorary Secretary and Treasurer of the Association for a period of 3 years.

(d)   The Managing Editor(s) of the Indian Economic Journal for a period of 3 years.

(e)   The Honorary Local Secretary nominated by the President in consultation with the Conference host institutions.

7.1  The President of the Conference will preside over the Annual Conference of the Association and conduct its proceedings.

Article VIII

Amendments:

7.0   Amendments to the article should be proposed in writings by a member and seconded by two other members and forwarded to the Honorary Secretary by September 30 of each year. The Honorary Secretary should circulate all amendments received accordingly to the members by November 1 or at least 30 days before the meeting of the General Body at which they are to be considered. Amendments may be introduced at the meeting at which they are to be considered.

 

7.1   Amendments to the Article require for their adoption by the General Body the affirmative vote of two-thirds of the present and voting.

List of past Presidents

Prof.C.J.Hamilton (Convener), Calcutta, 1917

Prof.Percy Anstey, Bombay, 1918

Mr.Hallies and others, Madras, 1919

Dr.Gilbert Slater, Allahabad, 1920

Prof.H.S.Jevons, Patna, 1922

Sir.J.C.Coyajee, Lahore, 1923

Sri.M.Visvesvaraya, Bombay, 1924

Sri.Lalubhai Samaldas, Banaras, 1925

Prof.C.J.Hamilton, Madras, 1925

Prof.M.L.Tanan, Calcutta, 1927

Sir.M.L.Darling, Lucknow, 1928

Prof.V.G.Kale, Mysore, 1929

Mr.N.S.Subba Rao, Allahabad, 1930

Dr.P.N.Banerjee, Lahore, 1931

Prof.T.K.Aiyer, Bombay, 1932

Dr.K.K.Mukherjee, Delhi, 1933

Prof.C.D.Thompson, Annamalainagar, 1934

Prof.C.N.Vakil, Patna, 1935

Sir Manohar Lal, Dacca, 1936

Dr.John Mathai, Agra, 1937

Dr.P.J.Thomas, Hyderabad, 1938

Dr.Gyan Chand, Nagpur, 1939

Dr.L.C.Jain, Allahabad, 1940

Prof.D.R.Gadgil, Mysore, 1941

Dr.J.P.Niyogi, Bombay, 1942

Dr.B.V.N.Naidu, Madras, 1943

Prof.L.K.Hyder, Delhi, 1944

Prof.D.G.Karve, Lahore, 1945

Prof.S.K.Rudra, Karachi, 1946

Dr.P.S.Lokanathan, Calcutta, 1947

Dr.J.C.Sinha, Hyderabad, 1948

Prof.V.K.R.V.Rao, Waltair, 1949

Prof.V.L.D'Souza, Aligarh, 1950

Dr.H.L.Dey, Patna, 1951

Prof.P.A.Wadia, Trivandrum, 1952

Prof.S.Kesava Iyengar, Jaipur, 1953

Dr.R.Balakrishna, Agra, 1954

Dr.B.N.Ganguli, Poona 1955

Dr.S.K.Muranjan, Cuttack, 1956

Prof.B.R.Shenoy, Nagpur, 1957

Prof.M.H.Gopal, Lucknow, 1958

Prof.J.J.Anjaria, Annamalainagar, 1959

Prof.A.K.Dasgupta, Chandigarh, 1960

Dr.B.K.Madan, Dharwar, 1961

Prof.V.R.Pillai, Ahmedabbad, 1962

Prof.S.K.Basu, Bombay, 1963

Prof.D.T.Lakdawala, Baroda, 1964

Prof.N.V.Sovani, Banaras, 1965

Dr.I.G.Patel, Calcutta, 1966

Dr.M.V.Mathur, Madras, 1967

Prof.J.K.Mehta, Hyderabad, 1968

Prof.S.N.Sen, Patna, 1969

Prof.M.L.Dantwala, Gauhati, 1970

Dr.Sadasiv Mishra Delhi, 1971

Dr.K.N.Raj, Bodh-Gaya, 1972

Prof.V.M.Dandekar, Tiruchirapalli, 1973

Dr.M.S.Adhiseshiah, Waltair, 1974

Dr.Bhabatosh Datta, Bhubaneshwar, 1975

Dr.K.S.Krishnaswamy, Mysore, 1976

Dr.P.R.Brahmananda, Madras, 1977

Dr.Gautam Mathur, Bombay, 1978

Dr.V.Shanmugasundaram, Surat, 1979

Dr.P.D.Hajela, Poona, 1980

Dr.D.M.Nanjundappa, Tirupati, 1981

Dr.Sarveswara Rao, Jabalpur, 1982

Dr.Kamta Prasad, Bangalore, 1983

Dr.D.L.Narayana, Agra, 1984

Dr.Manmohan Singh, Ahmedabad, 1985

Dr.S.Chakravarty, New Delhi, 1986

Prof.Alak Ghosh, Jaipur, 1987

Dr.C.Rangarajan, Calcutta, 1988

Prof.Amartya Sen, Trivandrum, 1989

Dr.M.Madaiah, Muzaffarpur, 1990

Prof.Ruddar Datt, Anantapur, 1991

Prof.A.M.Khusro, Indore, 1992

Dr.V.R.Panchamukhi, Bombay, 1993

Dr.Raja J.Chelliah, Mysore, 1994

Prof.Deepak Nayyar, Chandigarh, 1995

Prof.Kanta Ahuja, Gwalior, 1996

Dr.D.Awasthi, Hyderabad, 1997

Dr.G.S.Monga, Bangalore, 1998.

Dr.Ajit Kumar Sinha, Amritsar, 1999.