Bellikoth Raghunath Shenoy

In 1955, Shenoy was appointed to the Panel of Economists who were to appraise Nehru's ambitious Second Five-Year Plan, the one that aimed at "heavy industrialisation". He was the only one to submit a "Note of Dissent."

Dr. Shenoy's work on the "Sterling balances of Reserve Bank of India", written in 1946 was the first effort by any economist to accurately calculate the World War II expenses and actual value of foreign exchange reserve with Reserve Bank of India. He claimed 1724 Crore rupees with the Reserve Bank included foreign assets of commercial banks also. Shenoy suggested devaluation of Rupee for it to attain proper parity with Pound Sterling.

Shenoy was born near Mangalore, Madras Presidency in British India. His forefathers were from Bellikoth village, near present day Ajanur in Kasargod district. He studied economics at Benares Hindu University and later at the London School of Economics where he was highly influenced by Friedrich Hayek. In particular, he heard Hayek deliver the lectures in January 1931 that became "Prices and Production," and that began the process of his adherence to the Austrian approach to economic theory and policy. In 1931 Shenoy became the first Indian economist to have a paper published in a leading scholarly journal. As a student, Shenoy participated in the Indian independence movement and was jailed at Nagpur where he was influenced by Madan Mohan Malaviya

Bellikoth Ragunath Shenoy (1905–1978) was an Indian classical liberal economist. He was a highly influential advocate of classical liberalism in India and was President of the Indian Economic Association and a member of the Mont Pelerin Society.