Editorial With Sujit Nair: Indian Economy's Greatest Crisis| Prof. Arun Kumar
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- Опубліковано 6 вер 2024
- The first wave of Covid-19 broke Indian Economy's back. The second wave was much worse. With still majority of population to get vaccinated, India is bracing itself for the third wave. With falling GDP and rising unemployment where does Indian economy stand? In this episode of the Editorial our Managing Editor Mr Sujit Nair discusses the ossue with eminent economist Prof Arun Kumar.
#IndianEconomy #BlackEconomy #5TrillionEconomy #GDP #Inflation #Demonetisation #Unemployment
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Prof. Arun Kumar is one of the most knowledgeable politcal-economists whom very few seem to listen to. Sad!
We have loads of gems like dr manmohan Singh, amartya sen,abhijeet ganguly ,raghuram ranjan ,even pronoy roy of ndtv and p chidambaram are veterans last atalji time finance minister
Mr sinha . But chai boi loves to run his own tom n Jerry circus.
@@onlypatel8297
All these 'great' economists had big chance to play before 2014. Also any idea if US President takes Abhijeet Ganguly/Raghuram Rajan's advice for running USA Economic policies?
Even today, these great economists can help other Asian/African/European countries by becoming their economic advisors.
@@user-cq7db9ij1o look even after being commerce graduate I understand complex nature of economics policy.
So dont expect any logical policy from chai boi n his dumb advisors specially after demonstrating or hasty I'm saying hasty implementation of gst or neglecting healthcare in corona without realizing how adversely it will impact economy.
Now I clearly see the most disastrous time of indian economy so chai boi should consult these noble winners and gems keeping its gobar science arrogance aside.
This undoubtedly will be India’s decade of shame. I sincerely hope that it does not turn into India’s century of humiliation.
This however this is the mostly likely outcome as Indians will vote for slogans of temple construction and Rs 15 lake in every ones pocket for free
Because listening to the professor will mean waking up the poor who have been looted by the rich, who up until now been kept in a Indian fairy tale with Forbes rich list and stories of booming Indian economy.
What a stark difference between two bearded people! One is full of knowledge & the other is full of himself. Serves us right for handing over India's topmost job without doing a proper & thorough background check.
Knowledge needs to be implemented properly and his economics theory doesn't stand in front of reality.
Why another bearded fellow- didn't do anything to curb on black money from 2004 to 2014? how come CEO's salaries skyrocketed during that period? Why this bearded fellow, asked SBI to give loan to Vijay Mallya in 2005?
@@user-cq7db9ij1o as far as I know, India's gdp did not start shrinking from 2005 but 2016. India's economy did not crash during the 2008 stock market crash but it steadily kept increasing, pages to reality that was Manmohan Singh whereas in 2016 the world market was doing fine till about 2020 first quarter. The salaries of ceos increased because the economy was strong, isn't that the narrative of the right wing? No universal equal income but opportunity based economy so why complain about such things? Why self proclaimed right wing capitalistic government concerned about the salary of ceos? As for Vijay Mallya, more people have committed bank frauds and have run away from India in these 8 years. That was one of the reason why banks were sold or converged with other banks to absolve these cases or these massive loan frauds. Why not demand the gdp calculation of India to be on quarterly basis instead of the new formula for yearly basis?
What a perfect reply
Spot on
Common people should be given the financial support
He is also authority on Black Economy, which you haven't mentioned in introduction which is his most significant expertise. As far as his views on Economy are concerned, they are worth implementing, but this Government is averse to good suggestions. Economy will be in disastrous situation, till this Government exists at least.
This economist is lecturing on black money since early 80s. Why earlier govts. did not listen? why 'world class' economist Manmohan Singh didn't give a damn ? answer is simple- Economics in Books is vastly different than reality.
@@user-cq7db9ij1o Trump will have a different answer but bonsenero might agree with you. As for Manmohan Singh, maybe there is no way to bring back black money from countries part of akhand Europe i.e. EU or Australia but one can prevent further increase in black money race.
@@user-cq7db9ij1o reality is people like you don't read single book not even aware about the reality.
@@soumyasundarghosh2403 ❤️
@@ashutoshdevgire5591 😆😆😂😂💋😈😈
If the Modi government had spent the same amount of time, energy and thought that they did on blaming others, hiding numbers and publicity into governance and managing the economy, we would've been in a much better state now.
When PM is only concern about his image instead of Country's & Cabinet Ministers are busy in thanking him from morning to night without any reason then don't expect any turn around to our Economy.
Couldn't be put better than this.
Baba paisa ban raha hai public say koi lena Dena nahi hai
Very well said Mr Kumar.
The PM has kept himself surrounded with sycophants who makes him feel like as if he is the almighty god himself, & thts y he won't pay any heed to experts advice howsoever logical it might be.
India will be another Somalia after a few years.
Chaiwala has botched up everything today we are competing with Bangladesh
,even there it beats us in gdp per capita byv280 usd .
Few more years given to chaiboi he will push us down to Somalia level .
Andh bhakths says GDP is a big trash.
Sun will rise in night if fekoo claims. In nutshell it's a 2rs comment story .
s gdp,gdp growth,gdp growth % and gdp per capita all have different meanings and impacts and influences basically indian gdp recorded lowest negative -8
% in modi rule and gdp per capita also all declining since demonetization.
This undoubtedly will be India’s decade of shame. I sincerely hope that it does not turn into India’s century of humiliation.
This however this is the mostly likely outcome as Indians will vote for slogans of temple construction and Rs 15 lake in every ones pocket for free
it's very easy to compare with Dhaka... on youtube. Just have a visit by getting visa to Bangladesh
Mr. Nair, I remind myself the well known proverb in English. "pride goes before the fall". So it is with the present government...and its economy...!!!
unfortunately this govt. is celebrating even failures. and there are people who fall for these cheap gimmicks. see for. eg. the recent vaccine record which was not true in the first place, but has resulted in a dearth of doses now
Do you remember what Kalmadi did at common wealth games, under MMS ?
I just imagine what the Kalmadis of Congress would have done in the Covid -19 opportunity!
It's from the Bible, proverbs chapter, written by the greatest king ever lived king Solomon
Replace that beard guy with him 😜
Arun Sir , swaminathan Ankilesh aiyar and reghuram rajan are economists par excellence
An excellent editorial. Such a learned and qualified person should lead, but unfortunately we are concerned with whats in the tiffin box. We don't even think before beating thalis and flashing mobile torches, on the contrary we are proud.
History will be kind to me …Dr.Manmohan Singh 😊
History will curse me ..Modi🤦♂️
unfortunate that ppl dumped MMs
Your religious agenda makes you say this. History will never forgive Manmohan who told that Muslims were the priority for India. He divided the minds.
Well maybe we curse you
Excellent episode. Thank you for inviting a Legendary teacher and eminent Economist. Full power. Jai-Hind
Sir very clean insight about our economy and our suffering
Very enlightening! Like a true teacher, he explains every aspect very clearly and without any hesitation. Many Salutes!
Truth is that only proper educated people understand but we need the combination of knowledge and sincerity to the citizens. Only then success is guaranteed.
@@rahimunnisabegum5673 agreed
This guys portrayal is the most accurate from all the other nonsense nationalists keep propagating. For the past 6 years the media was saying the economy was booming so how comes we lost a 40% lead on our GDP per capita with Bangladesh? Its all BS our media and politicians are just fooling the people and looting the poor.
Bring Back Our Pride PM Dr Mannmohan Singh 🙏🏻🙏🏻👍
Bring back Sri Manmohan Singh and Chidambaram and allow them to loot the Banks and other resources how much they CAN. 👆
@@Mrsrinivasagam Modi Gang Loot ke Saamne Sab Record Dvaasth..😂
मनमोहन ने ही सभी धंदे चायना में मेरे.
@@znznw Ha isliye ek Rafael ko 600 Crore ka 1650 Crore khareeda.. Poora 59,000 crores mein.. Naam famous hai " Chowkidaar Chor he Hai"😂😀
Mr. Nair, thank you for this enlightening editorial !!
Greatest crisis is Bungler Supreme himself
His Ego has no limit
What saddens me is that we have so many good economists who have plans to get India growing still our econony is going down.
Sad n sadest scenario got personified by covid.
So they will blame virus .
The one leader wants only his image to be protected at any cost. The country has already paid a very high cost.
This undoubtedly will be India’s decade of shame. I sincerely hope that it does not turn into India’s century of humiliation.
This however this is the mostly likely outcome as Indians will vote for slogans of temple construction and Rs 15 lake in every ones pocket for free
Throw this govt out
Govt busy fighting twitter instead of the economy
Seriously 🙄
Economy is anti-national
@@manjulabolla7334 😂 Wa kya scene hai🤣
Big hollow announcement made by this stubborn FM yesterday as written/read from paper. Will all these challenging promises be in action or that same jumlabas since 2014 & until now still continuing. With this PM Modi, HM, FM & RSS/BJP team governing bodies is just doubts & questions. The nation and people are actually sailing in stormy situations/challenging task with people who not really know to swim but sailing the ship ..
As former DM in last cabinet bought FIGHTER JETS for India at very very expensive price, when asked how much is price paid by Indian Government. As FM she said no we will not announce even if raise RTO. Her answer is if the price is exposed it will tell the capability of Jets. OMG even our neighbours can ask the same supplier what's is cost for me who merera poddosie karidya jet appana tokhan saye 😆. Now this period became as FM under current regime in order to manipulate thier last dealings
wow ! just brilliant! this guy needs to be employed by the government.
Explanation of wealth, cash and black money was awesome...Salute to you sir.
Sujith nair sir thank you for patient listening
Indian economy was already in the toilet Now we enter the decomposition stage
But hey we still have the Forbes list to bloat our ego.
OMG what a knowledge person
Absolute nut.
Our PM is above all the economists. 😂
Arun Kumar is probably the most knowledgeable person in the field of Black Money
4 hours of wisdom and knowledge in 40 minutes.
Very educative!! Great insights!
Seems Supreme Leader decided to imitate the outer outlook of Prof Arun as its impossible to imitate of watz inside head of Prof Arun... Some one need to say to supreme leader tht growing beard will no way help in growing brain & attitude 😂🤗
This government won't put money in the poor people's hand because that is fundamentally against their ideology. Imagine they give 6k rupees to rural people in Cow belt? The poor and dalits will wear good clothes and shoes. They might not be slaves to their masters because they don't need to be slaves to survive. The upper and Backward caste people just can't take it. The reason is more social, political and fundamentally against the Sangh idealogy. They will never do that
I think caste feeling are more in north india.
Modiji will take comfort in the adjective "Greatest " in the title. Everything is Biggest, Longest, Tallest, Fattest, ... with him.
Will full of "streanh"
Narendra Modi should resign immediately if the country has to be saved....
he wont. he needs to be in power if he does not want to be in jail
do you think, he is such a nice person who takes responsibilities for failure? He can only be thrown out. meanwhile he will throw out who oppose him.
World has changed. He is there to represent vested interest and create illusion for majority that things are good. As long as people believe in it and also given that there is a weak opposition, he is likely to our PM till his death. Do you see Rahul Gandhi as our PM. i cannot imagine such a thing. So Brace for more trouble. So option for people is just two. Either you choose the Evil or face the devil. Either way, people will be beaten to pulp
Yes and bring back Rahul Bai to make the economy better.
Brilliant Interview
Replace Modi and his cronies with people who understand the economy of India.
Sadly thts not possible before 2024, & by the time our country's economy will be in complete shambles.
America will act
@@victorray9369 How and why ?
@@rajeev7898 Netanyahu gone. Next Modi. Biden already planned to remove Modi. Current CIA director is critical to Modi.
@@victorray9369 I can't think of a more anti-national statement than yours. You think and hope that Biden and the CIA gonna remove the democratically elected leader of India? Just because, Victor, YOU don't like him?
Biden removed Netenyahu? As Netenyahu was bombing the hell out of Hamas in Gaza, the Biden administration has obstructed a mere statement by the UN Security Council (UNSC) calling for a ceasefire. It was the only Member of the Security Council to do so; and under Biden, the USA did this not once, not twice, but thrice. After Israel was done with thrashing Hamas for good, then came the statement from Biden, calling for a ceasefire.
If Biden is indeed capable of removing and intended to remove a right wing leader as the head of Israel, then why is Naftali Bennett, a far more right wing person, at the helm in Israel now?
By that logic, Biden's gonna remove Modi and bring in Yogi 😁
You people.
Your fear and hatred for Modi is making you guys crazy 😂
ONE PERSON , WHO IS , I DON'T KNOW WHETHER HE IS PASSED CLASS X OR NOT , HOW HE COULD UNDERSTAND THIS ECONOMICS..
When you elect a joker ,expect a ( expletive) circus .
This was my comment about this useless with my friends.but still many People are blind folded and following him. How can we make them aware about this joker?
@@prabhua5943 his work is evident to be destructive enough we r just voice of dissent. Make wise friends dumbs will ruin you like my country .
Thanks for sharing such great knowledge Arun Sir
@sujit nair,@prof arunkumar. Wonderful discussion of the economy. The biggest failure of this govt is to neglect suggestions of economist , mix up micro and macro economics, focus on supply , crony capitalism , and invest in growth. We the people of India have every right to elect a Economic expert as PM and a council of experts like the TN govt has created.
I'm big fan of Dr Arun Kumar sir ... India is very fortunate being a citizen like him
India had highest ever exports of $95 Billion in the quarter ended June 2021. Look at the size of our foreign currency reserves, just don’t because me pessimistic, Indians are hardworking and will do well.
Exports are up because they were stagnated last year. FR aren't a good metric to measure the health of the economy, it's very hard to liquefy those assets. They're mostly in the stock markets.
Arun Kumar should be heard by even the public at large. He is very knowledgeable. His simple way if explaining a fairly complex subject is remarkable. Have had opportunity to listen to him at IIC and Habitat center and he headed economic department at JNU too. All the best sir.
I am wondering what happened to the LPG subsidy. Every one I talked to say that they are not getting it but I did not come across any news on it.
Sir
Unemployment is becoming very very serious problems in india ,even before pendimic it was alarming but after pendimic unemployment is becoming unbearable. People are on one side is broken due to never ending inflation,on the other side due to no jobs ,just killing the total future of middle class and poor class.
Is this government totally clueless CS how to control economy?
Is this government incompetent and unprofessional to understand the dilutions of this burning problems of unemployment?
What is solution for middle class ?
As we see middle class is badly converted to poor class .Further poor class without shelter and roti on the road.
We see all odds as far as economy revival plan is given by government and country of 140 crores have accepted in principle that Modi government not only incompetent and unprofessional but careless and without heart /emotions.
We only see they are elections jivi and not worried to solve the highly affected inflation and severe unemployment. Industries yet do not yield desired results and GDP is continuously in shameful negative figure . WHAT IS SOLUTION? Or we have to live up with broken economy like carona.
Modi govt only planning to take full control of states.
There should be 2 PMs.
1. Rich population. Modiji
2. Poor population vacant
1% people paying tax also needs a PM😂
POOR TO MAKE FURTHER POOR AND LOOT LIKE LAST 70 YRS
Nair Sir, please don't mind me saying but I wished you asked about or discussed about:
(1) Pro-business doesn't necessarily mean bad for the general people/country..I understand the issues of monopolization (almost) by certain corporate houses can be a point of concern..but wouldn't a symbiotic relationship between businesses and general people be a win-win for all. I wish this was explored by the economist. I am sure many MSMEs appreciated the GOI gaurantee bank loans, which they used to keep their businesses alive ( and maintain some employment)
(2) I wished the eminent economist explained more of the deficit and if GOI could afford to provide cash to their people like the developed world economies.?
Again, sir, this is not a criticism of your channel or yourself or your guest..but I wish there were more details provided on this thought provoking/concerning topic.
Regards
I know about 1, GST hit small businessmen hard, so who will benefit from pro-business stances?
Works gives dignity, what an incredible things to say, what profound statement.
Absolutely true!
Why don't we have this kind of people instead as our leaders?🙄
Such a great truth. India has such economists whose ideas definitely
boost the economy. These eligible
People are required in our government.
It's been so bad, now I feel like ship is sunk
Run away to Pakistan
Freakin MASTER CLASS - SALUTE ARUN JI
Sir we have economic crisis due to pandemic but today hot news US dragging India into war with Pakistan and China. Allah forbids If this happens where we will stand…! Modi is busy in saving his skin but at what cost. Is any individual is above nation….! Can sensible person able to answer my concerns….?
Thanks a lot Nair sir for this fruitful event 💐
Epitome of Knowledge on Economy 🙏
Always a delight to listen to Prof Arun's stance on any issue of the economy. He always explains with so much clarity!
Truly, I have been following him for more than 8 years now. A very delightful man.
Sir Arun Kumar ,you have been spot on in your assessment of policy and the economy.
India is soviet union in making. Looking forward for a free North East in my life time .
Free TN too...
@@My_te Exactly 100 percent. We need a country which is more of EU structure rather than a centralized country with a political system hijacked by hindiwalas.
@S A I’m a nationalistic Tamizhan and I don’t want a separate Tamil Nadu. But I do want some reforms in the system and states be given more autonomy like in the American federal system.
@@raghuls5914 I agree with you. That is my wish too. I afraid if the economy goes down this fast and at one point central govt may not be able to support every state financially then the system cannot be the same. What happened to USSR will happen in India. I dont want TN as separate country if situation becomes bad that is inevitable. :(
@Comrade Joseph Stalin Just Bangladesh will do it as the name is very inclusive for all the Bengali people!
Excellent editorial, very educative, thanks Mr Sujit
Nothing lasts forever. Even this incompetent government will fall one day. That's our only hope I guess.....
woah, i never learnt this much in my economics lectures
Emperor is naked - Malayali will tell the truth, whatever may come...✌️
wonder why Mallus wander around the world esp the Gulf and Bangalore to find jobs. Mostly menial, minimal skill requiring ones. Biharis of the South.
Kerala gets 14% more NRI deposits at Rs 2.27 lakh crore in 2020.
They are busy making money - not begging Chaddioorappa sanghi.
Oh you can't imagine such a big amount. Sorry.
@@dowrypandaram179 lol imagine flexing when your key exports are literal slaves.
@@dowrypandaram179 imagine talking about money and economy while coming from a Communist state. I can't even!
I have been trying explain the economic crisis to my friends and family since 2019. But they still think I am blabbering nonsense!
Drop those friends.
Make this guy finance minister
Brilliant talk by Prof Arun Kumar. You can see that he thinks about these issues on perpetual basis. What Modi needed was him and Prof Rajan, along with Subramaniam Swamy and you would have an incredible team. However, Modi, intoxicated on his wins, lost track on how to staff his team. What a waste of 5 years. India lost 10 years of economic advantage over China and will never recover from this utter display of incompetence. How could have a ChaiWala shown better judgement?
The only advantage for the present government is there is no opposition and no leaders knows how to question the government or suggestions ,the opposition only does knee jerk reactions and no firm decision to tackle the government .
MSME for retail opened because banks cannot any more lend to manufacture and services sector
Trickle down Economics... Waiting for the trickle 🙄
.... Waiting
.... Waiting
.... Waiting
... Wait a minute....🤔
.... It was a "Trick"🥴
Nooooooooooo 🤯
is there a way to support other than recurring payments?
Bottomline, the govt does. Not acknowledge the ground realities nor suggestions from learned economists and members of the opposition. Therefore the result is reactive governance not proactive and creative governance with a result that crisis situations like covid19 pandemic have spun out of control which is catastrophic for the Indian population.
why is this Dude not in NITI AAYOG ?????????????????????????????????????????????????????????????????????
Arun Sir... im buying your book
Central Government must quit from everywhere except military , foreign affairs and courts.. State Governments from everywhere except free and good education thru public schools till plus 2 and infrastructure..
All else will fall in place nicely simply by the very absence of Govts.. period..
That fire station example..... what a way to relate....epic
Perfect example.
Simply ecclectic. Wish we had listeners than chest beaters
Tku sir for this interview with such a brilliant Economist. His views & analysis of the state of our economy is truly splendid. His approach to solutions are just common sense approach that is emphasising on Demand side economics which is absolutely the right way to tackle the present problems faced by our country. It's strange that still our powers that be in the centre are unable to recognise the root cause & continue to focus on Supply side economics by trying to pump in more funds to create more production capacities which is disastrous in present times. There is need for radical shift in the thinking of our govt.at centre & it's a good idea suggested by the professor of some urban unemployment guarantee scheme & also increase the MNREGA to 200 working dayss a t
Top economist Dr Arun Kumar. Nobel Laureates Dr Amartaya Sen & Dr Abhijeet Banerji have said the govt. should hand money to the poor, it should be a humanitarian issue.
Extreme corruption and wasteful expenditure by bureacracy , both at the central and state levels , is the reason for all the ills of this country..
we need a courageous finance minster to put an end to this continuing loot for any semblance of recovery at least in the distant future for our children and grand children..
Learned Prof Arun Kumar is only talking about the drubbing Indian economy took due to covid pestilence. But it was in sharp decline long before that. Covid was only a double whammy on an already bad situation.
very good analysis Prof. Arun Kumar sir, I like it, true is always true no way to hide. why not govt. discussed openly with all the knowledgeable people.
Learnt more economics than what I learnt in school
Indian economy is as great as a COW… after covid crisis everyone but few will be on one nation one ration… my heart bleeds to see this situation… a humble request to people from cow belt for once keep religion away when your are voting if not you are going to take western and southern India with you… that means no free dole for you…
Bimaru is a curse
You are right 👍
Well do you think only north India votes for BJP?
What about BJP in karnataka and aap in delhi
@@systemworks2053 Absolutely ..yes.. only North votes for a religious party.. BJP grabbed Karnataka only after dismantling Congress alliance..
Why is there no editorial for the past one week Mr. Nair pl???
India can send as many rockets into space ,it is still a 3rd world country
Thank you very much for sharing the facts about the present situation to the common people.
How can Data be available when all Efficient Personnel have Intentionally been replaced !!!
Amid all the realities, stock markets went up heavily, during the lockdown, how? Had to address this matter also
Fabulous information sir.
It's very unfortunate that the economic condition of our country is deteriorating day by day.
Hope our economist will not mitigate any more
The elucidation on current state of Indian economy is excellent. Unfortunately, the powers that be, has become deaf to these cogent advices and thereby brought us to where we are today!!
Dumbledore needs to be replaced with this Gandalf... On the double 😜😂👌👌
What people do not realize is that Modiji is 101% absolutely non-corrupt and 102% hardworking and his net worth is less than 3 CR. This is hugely opposite of notorious Congress leaders therefore Majority of Indians still Trust Modiji as the best leader in the country and as PM. However people who voted for Modiji don’t realize is that Modiji real grade for 🇮🇳 Economic growth is F- and all others govt policies n sectors average grades between B, B+ or A. What is sad is that Modiji squandered 6 years of time in moving the poorest 200 million out of 700 millions poorest to the middle class economic status. Infact, sadly the opposite happened. Professor Arun is so right how devastating the pandemic hit the Poor. It’s also sad that the opposition specially Rahul G with weak performance n has allowed Modiji to look so Good (Teflon/Platinum/Titanium) despite bad economic policies and low GDP growth
Very informative, learned a lot from listening to Prof. Arun Kumar, pity our government is in no mood to learn or reflect. Painful to think about the suffering of the poor in India at the hands of the ruling incompetent tyrants.
Excellent interview. Thanks for sharing. 🙏
This man is a bangali and they have something in there blood any field art science economy or music they are way ahead.
Such situations are common in all countries, but how do we need solution,
Very nice interview.
What’s the impact of digital payments and wallets on black economy and the unorganized sector ...
Modi is completely failed in all sectors
Highly knowledgeable person. Unfortunately not effectively used by India.
You should send Prof Arun Kumars book to Modi??
Sujit Nair, fair enough
You rope in extremely intellectual properties in your shows
I never deny the facts that this gentleman economist has to convey.
Could you call in people like me into your discussions where more facts of the ultra poor could be highlighted and maybe get a redresal of some sort.
when most of the European and US ahs issued a travel advisory against India, what is the logic of giving free visas? When the economists are crying hoarse about the stupid supply-side economic policies, why doesnt common sense prevail on the people in government.
When RBI governor Raghuram Rajan was against demonetization did he listen.
When farmers are against farm laws does he listen?
Bjp protested about the petrol price before coming into power but has he brought it down?
yes, I also agree to create an economic think tank.
I believe people in the government also listen to this editorial