He was a chief economic adviser to the Government of India and later became finance minister of West Bengal and a member of the Rajya Sabha.
[1] Under the guidance of Professor Jan Tinbergen of the Erasmus University Rotterdam, he was awarded a doctorate in economics there in 1953.
[1] Mitra taught as a lecturer in economics at the University of Lucknow for two years before proceeding to the Netherlands to complete his PhD thesis.
[1] After returning to India he accepted the professorship in economics at the newly established Indian Institute of Management Calcutta.
[1] His publications include China-Issues in Development and From the Ramparts, Prattler's Tale: Recollections of a Contrary Marxist (which has also been published in Bengali as Apila Chapala).