Awards
In 1937, Deshmukh was appointed a CIE (Companion of the Order of the Indian Empire).
In 1944, the British Government conferred a knighthood upon Deshmukh.
In 1957, he was awarded an honorary Doctor of Science by the University of Calcutta.
In 1959, Deshmukh was a co-recipient (along with Jose Aguilar of the Philippines) of the Ramon Magsaysay Award for distinguished Government Service. Jesus College, Cambridge, Deshmukh's alma mater, elected him its Honorary Fellow in 1952 in recognition of his distinguished contribution in the areas of Indian and international finance and administration.
In 1975, the Government of India honoured Deshmukh with a Padma Vibhushan award.
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