Noted economist Deepak Nayyar contributes Rs 2 cr to sustain Rohini Nayyar Prize in perpetuity

Noted economist Deepak Nayyar has contributed Rs 2 crore to create an endowment fund to sustain in perpetuity the Rohini Nayyar Prize, an annual award of Rs 10 lakh for outstanding contribution to rural development in the country.

The prize, in memory of Nayyar's wife, the late eminent economist-administrator Dr Rohini Nayyar, is endowed by not-for-profit Nayyar Foundation for Social and Economic Purpose.

''I have contributed Rs 2 crore, from my personal resources, to create an endowment of Rs 2 crore for the Nayyar Foundation which will suffice to sustain the Rohini Nayyar Prize in perpetuity.

''I am pleased that we will be able to continue to recognise the work of outstanding young professionals in the field of rural development for several years, even decades,'' said Nayyar, the Director on the board of the foundation. The prize is awarded annually to a person under 40 years of age. The first edition of the prize was won last year by Sethrichem Sangtam, the founder of the Better Life Foundation in Eastern Nagaland for his work in helping quadruple farmer incomes in a remote part of the northeastern state.

Sangtam received the prize money of Rs 10 lakh, a citation and a trophy from NITI Aayog Vice Chairman Suman Bery at a ceremony here in December. Applications and nominations for the second edition of the prize are now open.

Rohini Nayyar spent much of her professional life working on issues related to rural development in India. A well-known economist, she was also the former principal adviser at the erstwhile Planning Commission.

''The prize is one of only a handful in India named in memory of a woman. We were heartened by the huge response we got for the first edition of the prize and we encourage nominations and applications from every part of the country for the 2023 edition,'' said Deepak and Rohini Nayyar's son Dhiraj Nayyar who is a director on the board of the foundation.

Deepak Nayyar is one of the four independent directors on the Board of Directors of Press Trust of India. Apart from the independent directors, the Board has 12 shareholder-directors who represent prominent newspapers of India.

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