Saumitra Chaudhuri studied economics at Jawaharlal Nehru University and worked for several years in various departments of government that were entrusted with setting prices, tariffs and issuing industrial licences; to that extent has had first hand experience of the control system prevalent in the eighties. He worked with State Bank of India and Steel Authority in a period that the system began its early forays into taking cognisance of market signals and started entertaining the idea of competition. For more than a decade he has been Economic Advisor with ICRA Ltd. a full service credit rating agency, an assignment which has been enriching in terms of gaining an understanding of both corporate and public finance, and of their dynamics. He is the Executive Editor of ICRA's quarterly publication, Money & Finance, and writes extensively in the print media.