[1][4] After graduating from the University of Colombo with a degree in economics, Kelegama joined the Central Bank of Sri Lanka in the early-1950s with the first batch of officers which included Gamani Corea, Warnasena Rasaputra, among others.

He was instrumental in establishing the People’s Bank and the Sri Lanka Insurance Corporation in the early 1960s with the then Finance Minister, T.B.

During this period, he wrote many articles and made extensive contributions to the Ceylon Economist and to the news papers.

[1][2][3] During 1977–1990 he pursued a career outside Sri Lanka serving in various international organizations such as UNCTAD, FAO, and ESCAP as an economic consultant.

de S. Indraratna formed the Sri Lanka Economic Association in 1985 where he served as the Vice President from 1985–1991.

[1][2][3] During the 1990s, he played a key role in two leading humanitarian organizations, viz., the Cancer Society and Sahanaya and served as the Chairman in both these institutions for many years.

[1][2][3] Kelegama belonged to the older generation of economists who were every much influenced by Fabian socialism and Keynesian economics.

Under the column, many subjects ranging from: globalization, Washington Consensus, WTO, regional & bilateral free trade agreements, and domestic economic policy issues were discussed.

A Keynesian type of government initiated fiscal stimulus was necessary, he argued, to develop the supply potential in the economy.

In other words, he gave an alternative viewpoint to that of ardent advocates of a total free market economy who argued that with the free operation of the market forces, the supply base will automatically develop with minimum state intervention.