Rainbow Quiz - Identify the personality - Week 36

Here is the next weekly "Rainbow" quiz , where I would be giving 7 clues (Hence the name Rainbow) about a personality. Try to discover the person in the least number of clues . You can either leave the answer as a comment / email me . Feedback/ suggestions welcome. Googling is not preferred but then its just for fun and so go ahead if you need to.

He made the budgets sound so simple. A man of utmost integrity and towering intellect.

clue # 1 : "X" in Bombay to middle-class Parsi parents.His family name derives from the profession of his forefathers who had been manufacturers of palanquins.

clue # 2 : "X" was educated at St. Xavier's College in Bombay. He was a dedicated scholar and excelled even though he was hampered by a bad stammer ( Ironical for someone who excelled with his oratorical skills later in life).

clue # 3 : Since most courses were closed when he approached the colleges, he enrolled at Government Law College, Bombay, where he discovered that he had a gift for unravelling the intricacies of jurisprudence.

clue # 4 : "X" was first Class in both First LL.B. and Second LL.B. (bagging almost all possible prizes and medals), and first in every individual paper in the Advocate (O.S.) examination. On one of his answer papers in LL.B. the examiner wrote, "Frankly, this candidate knows much more than I do."

clue # 5 : "X" was offered a seat on the Supreme Court Bench, more than once -- probably the youngest to receive the offer, the first to be chosen straight from the Bar.He was offered the office of the Attorney General of India, again more than once and probably the youngest to get the offer.

clue # 6 : His annual Budget speech initially drew an audience of about four hundred which gradually swelled to about one hundred thousand. Nothing less than Bombay's largest cricket ground, the Brabourne Stadium, could hold the number.

clue # 7 : The public hailed him as "the Keeper of the Nation's Conscience" and Prime Minister Morarji Desai described him as "the country's finest intellectual". Rajaji called him "God's gift to India".

"X" received honorary doctorates from Princeton University, Rutgers University, Lawrence University, University of Wisconsin, Annamalai University, Ambedkar Law University and the University of Mumbai. He was also awarded the Padma Vibhushan.

Who is X?