Srivastava, 93, is survived by two daughters.
He was awarded the Padma Vibhushan in 2009 and Padma Bhushan in 1972.
Srivastava is the husband of Mataji Nirmala Devi, Founder of Sahaj Yoga.
Born at Unnao, he was chairman of Shipping Corporation of India and had also functioned as secretary general of International Maritime Organisation of the UN.
He has written several books including 'Lal Bahadur Shastri: A Life of Truth In Politics' and 'Corruption: India's Enemy Within'.