This guy was also an advisor of Mr. Modi once. I do not understand how economists like him, Surjit Bhalla, Aravind Pangaria, Gurcharan Das have supported Modi's governance. Other day I heard Surjit Bhalla saying the world has admired Modi's leadership during Covid. Really? Where did he see the admiration for being an inactive spectator of lakhs of deaths during covid? Mr. Subramanian is speaking so eloquently on how things have gone wrong. But did he show courage to say that demonetisation was a terrible blunder? Did he say the way GST was being implemented is going to slow down things? When an ordinary person with some economic understanding could understand the consequences, these guys toed Modi's lines. He speaks goodies and facts now when he is no more a part of the Modi's circle. And, even here he does say that Modi government has cleaned the banks. Really? I fear experts like him more than the leaders like Mr. Modi and Mr. Yogi. Now India has started sliding on socio-economic scales. No one can stop it. People will keep digging mosques after mosques, and with that their future. Only way to stop this to acknowledge there is a problem. Then transparency, coupled with real democracy and very honest and free discussions can start making some impacts. Politics is one thing, but when it comes to economics, the central government will have to consider the state governments equal partners. When dealing with economic decisions, politics should not be there. Can Modi do it? Not in his genes. So, India cannot resurrect. Do not be fooled by stock market performances. Structural problems had started setting in since 2013. It has accelerated under Modi. The government has been busy in just blame game. For the last 11 years or so, the government has just kept on blaming Congress for all problems in the country. And, what it has done in these years, it never talks of that. I have lost hopes of real revival under this government. Since India is a 150 billion country, it will keep growing around 6% or a little more. What India needs though is a growth rate of at least around 9%. China grew by 10% for around two decades. India should grow at least around 9% for at least around a decade and half. Can Modi or this "Hindu Muslim" government do it? No chance. And, words from these "experts" sound hollow knowing he was there when Modi used dictatorial attitudes to bring draconian steps.
When you are under employment of a dictator, you cannot but toe the leader's line. It is not fair to expect it. However, once he has quit, he has been consistent in identifying structural flaws. Hope someone in Modi's inner circle hears him.
I remember Mr. Subramanian calling Raghuram Rajan politically inclined & pessimist in a debate in 2021 inside a US University. Today he's mentioning the same risks after 4 years
Why Tamil Nadu has done better is the question we must ask. The answer is they have the guts to stand upto Delhi and pursue their own policies to the extent possible under the circumstances. The most simple way to trigger growth is to give states some elbow room. Decentralisation and devolution of power. Every state has its own advantages, resources and needs. In fact, every jumla modi said is actually brilliant - cooperative federalism, small government - big governance, make in India, skill India, startup India, swatch Bharat abhiyan, etc. Had they succeeded, India would be growing at double digit rate. The reason they all flopped is because they were just jumlas. They were never really serious about it. Last eleven years were spent on encouraging crony capitalism. I agree totally with Mr. Subrahmaniam that the problems are structural - both economic and political. Politics of religion is only making things worse. The whole structure has to be redesigned bottom up, not top down. People have to be empowered to better themselves. A vishwaguru sitting at the top will not develop the country.
Today I burst into flames when Nagar Parika people came to my home asking to pay 100/month for the garbage they pick from my home. As if paying taxes was not enough now I have to pay their salary too.
One more thing is more important in business that is available in my state tamilnadu, harmony, muslims and we are living together without any communal agenda, slowly British janta party wants to create a rift inbetween us but till now we are with standing against them
More power to TN and its people ! Your inclusive society , literate and skilled workforce, high human development scores, a state gov't that works to make investors feel safe are few of the things working in your favour. I see TN as the first 1Trillion USD economy state in the country. Best wishes
Very in depth Analysis which certainly needs to be looked into by our present Government before even thinking of just giving pseudo slogans for myopic vision of pleasing innocent half educated people of India instead of listening to economists view like our own Subramaniam the former CEA
Economic experts like Rathin Roy and Pronab Sen have been expressing their reservations about India's economy but this government has never listened or taken them seriously. This government is obsessed about social issues centered around religion, caste and community. Unfortunately social issues do not bring food on the table.... solving the economic problem does.
Our PM, HM and FM are trained in intimidation not in felicitating and creating an atmosphere to live peacefully. So no one would like to come and invest in our country.
Investment needs effective General administration, police administration, fast judgment by neutral judiciary, good quality mass education and other infrastructures etc.
From beginning some economist were telling that this government is manipulating the numbers today they are exposed at the end the common people suffering. We are comparing ourselves with Pakistan not with China. The day when we start comparing ourselves that will be day of our country development. Our government stop spending on unwanted projects like UCC, CAA, Wakt board & doing Hindu Muslim.
And this is why we need highly educated experts and specialists driving government policy instead of boot licking ias officers and glorified chai waalas.
India needs to fix its consumption engine. Tax slabs haven’t changed in over a decade, and cess and surcharges, introduced years ago, are still the same. The middle class ends up paying nearly 50% of their income on taxes and the rest on overpriced homes and education. Big corporates and a few close cronies get massive tax breaks, while regular taxpayers are treated with distrust. The system feels unfair and discourages hard work because people don’t see any reward for their efforts. The economy works on a simple rule: “What’s in it for me?” If people felt their hard work was valued, they’d willingly work 70 hours a week. I wish the PM and FM would stop laughing off tough questions about taxes and instead understand the Laffer Curve-that lower taxes can lead to higher growth and a stronger economy.
Sirs, we lack a cohesive economic policy integrating monetary and fiscal measures. Meanwhile, our finance minister is discussing trivial matters like popcorn taxes-an absolute failure of governance.
In my view the government lost its priorities of economic development to temple and religious politics in order to stay in power and It worked till 2024. In 2024 elections the voters rejected Modi playing Godman. If they don't follow public sentiments BJP will be out in 2029.
What an excellent thought-provoking interview! I didn't come across the kind of analysis of the Indian Economy and Ideas that Dr Arvind Subramanian propounds here. In the last year, I came across the appreciation of Mr Shaktikanta Das in running the RBI and there was a hint that the IAS officers are better in heading the RBI than the well-placed Economists that preceded Mr Das! That also hinted that they become difficult persons for the Ministry of Finance to handle, even becoming not just a pain in the neck but a pain much down below the people at PMO and the Ministry of Finance! Now, I see a QUESTION MARK on Mr Shaktikanta Das's innings as the Governor of RBI who must have gone beyond addressing the volatility in the market for the Rupee and instead kept it at a higher level and that must have been as desired by the Govt.
Surely window of opportunities is very narrow to improve our economy as you discussed , but our present ruling government has wide window of opportunities to create communal hatred and polarized politics, truly we are in a troubled state as a society & as a nation.
This ought to have more than a sobering effect on the entirely misplaced exuberance of the cheerleaders of this government which has led us up the garden path to the promised land of Viksit Bharat.
करण थापर जी बीजेपी का थिंक टैंक यह कह रहा था कि हम सत्ता में रहो आर्थिक समस्याएं अपने आप हल हो जाएंगे अब पता चलेगा कि चुनाव जीतना तो आसान है क्योंकि उसमें मैनिपुलेशन की बहुत संभावनाएं है आर्थिक ढांचे को चलाने के लिए मैनिपुलेशन नहीं चल सकती देश का दुर्व्यज्ञ था कि यह लोग सत्ता में आए और इन्होंने सारे आर्थिक ढांचे का सत्यानाश कर दिया
Corrective measures can be taken and things can be put back on track, but for that to happen the govt needs to first accept that things have gone wrong. That acceptance along with the willingness to learn from its mistakes and the capacity of character to accept advice from others is not visible. When you operate in the belief that you are a godsend, the saviour of the world, unanswerable to lesser mortals, that you are supreme, then the situation is hopeless. And when most of your policies are designed either to benefit your vested interests or to cater to your vote bank, these policies cannot be sustainable. The results are out there for all to see.
Its amazing how can some even so much as talk of Viksit Bharat when 800 million, ie 60-70% of population rely on government for their food intakes. For comparison, thats worse than 80% of african countries. Its time time to talk of starvation.
Problem is consumption driven growth. Indian producers will only invest if there’s sufficient domestic demand, not to export because they are inefficient rent seekers.
Central government has been underperforming but another root cause is state government apart from few like TS,TN,MH,GJ .They lack funds,lack vision,corrupt and inefficient sarkari babus,complex policies and regulatory framework,poor infra spending,freebies,etc...
I think the growth is being reflected due to unorganized sector coming into the organized sector because of GST implementation and digitalization of the economy. This is also the reason we see growth in GST collection. However, the growth is not as much as the GDP numbers show. Lack of investments by the private sector as well as lackluster jobs market indicate that GDP numbers are inflated.
Current Indian leadership was elected on reforms and change. But it failed to deliver any of it. It prides itself on political will but on the contrary it took the most U-turns on policies due to street protests and resistance from the status-quo. It has priotised electoral gains over governance. India needs a bold, visionary and young political alternative which is clearly missing from the current landscape.
The way to attract investors is by reducing their risk. There are many risks that an investor has to handle. The government should not add to their burden by adding political uncertainty risk, vindictive government risk and tax terrorism risk.
Thank you Dr Arvind Subramanian. I am a keen student of economics and find you to be the most erudite and wise scholar. Wish the person you once advised listens to you and not the RSS. That, their decadent policies are at the core of all the problems. Sadly, Modi is a product of this dogmatic ideology that is and will exacerbate not only our economic woes but more importantly, social to the point of affecting peace, harmony and safety of the entire society. Thank you once again Sir.
India consumer expenditure is increased because we buy things with are not essential, cheap Chinese items , money from our pocket are ending up few businesses man, finally out of country. Look of amount we pay on mobile phones , data recharges . People are changing mobile phone every year, even inmute repair people change phone. Cars , electronics item ,most them are foriegn companies they take there profits out India. Earlier people used to invest in real estate , tax savings scheme now most of tax savings scheme are plugged . Every year there changes in tax system . Every route where people used save money is plugged . Our money is neither end with government as tax, emi to bank, rest to paying bills.
Solution: organise group of traders market at different regions in india to sale manufacturing product where manufacturer can easily get order through these traders where consumer placed their order. Mean to say executing points of manufacturer and consumer.
Subramaniyam has answered beautyfully about the authoritarianism issue.(38-40 minutes of the video)Modi govt refusing to listen and address the financial devolution to the southern states amounts to authoritarianism.
The solution still is LPG; maybe the government could rename it. However, the question is whether the govt is ready to move away from crony capitalism, which finances the powerful.
TO MAKE THIS ECONOMY GROW @10% MODI AND THE ENTIRE JING BANG MUST GO. IT SHOULD INSTALL A VERY FORWARD LOOKING A VERY VERY SECULAR LEADER DOMEONE LIKE DR MANMOHAN SINGH SHOULD COME IN. 😊
When was the last time Modie talk / visited to a local from the village / slum ? and the last time his motorcade stop by a cow or dog while he's inside the car ! ?
26:42 The govt and RbI was working for the benefit of the oligarchs to enable their borrowing to buy foregn conpanies and tech.. There was also no other way for domestic companies to compete with foregn tech ..so they allowed a climate of borrowung for Tatas, mahindras , ambani.s etc.. But those companies can be encouraged to do that if there is also a general investment climate in resewrch and i.p inside the country ....the latter is woefully lacking and will not change..
one of the reason is this guy. Who was the cheif economic advisor during demonotization? Deflecting all the question which may indirectly poit towards him.
Frankly, don’t think one requires an intellectual discussion on why India’s story is not happening and has not happened last 75 years! We don’t have a functioning judiciary and a facilitating bureaucracy. Plain and simple. In the digital age, all Modi Ji has to do is direct all Ministries and departments and PSUs to get their websites and online presence benchmarked by an independent auditor. The exercise will throw up so many contradictions because our rules and procedures are looped and to attain parity with say Amazon or Apple or Facebook sites the bureaucracy can reform, if there’s a political directive. Recently, I got my international drivers permit issued via Parivahan website online without visiting the RTO, but the online uploading and navigation was a painful 6 hours versus the 5 minutes it should have taken.
Chauthi Fail💩Corrupt🩴MoAdani ki sarkaar ghaate mei chal rhi hai aur dusri aur IITian UPSC Topper ❤️ Arvind Kejriwalji 🇮🇳 ki sarkaar 10 saalon se munafe ka budget de rhi hai. ❤🌸World Class sarkaari Schools and Hospitals. 🌞1000 Mahila Sammaan Rashi har mahina. 🌻300 units free electricity 💮20,000 liters free clean water supply. 🌺Clean and Corruption-free governance. 🍁1000/month to 18+ ladies. 🌼 Free Mohalla Clinics. 🏵️Gurrentees Jobs to job aspirants along with leak-proof conduction of exams. 🌸1 crore to the family of shaheed Indian army soldiers. Aam Aadmi Party🇮🇳❤️
No investment has come to Tamilnadu. This guy is Anti Modi from day 1. He wouldn't talk about the way PSU Banks were bankrupted during Sonia & MMS rule of 10 years. Raghuram Rajan talks more sense. Now that Raghuram Rajan has withdrawn from politics, this guy must be dreaming some important role if Congress comes to power in 2029. All his allegations of National champions is absolutely baseless. He is the one who suggested cash transfer of ₹72000/- a year in place of subsidies. Now that has every state is giving money for women, free bus travel, free gas ...he says it is not good for the economy. I fear these characters more than politicians. They are as good as those foreign forces working to break India
Accept Aravind in all arguments .. But to underestimate domestic demand for India to grow - I Wont accept his take. he always insists on export led growth . he is wrong on that score. China had looked inward in the aftermath of 2008 crises.
contrats this interview with the 55 trillion economy LIE by Modi chamchanomist Krishnamurthy subramaniam who was also an ex-CEA..shamefull..it is these chamchanomists who let down the country
India IS A POOR country with a very large population and the people in authority who are supposed to protect the country and its citizens interests have become spineless and only speak/ criticise the government when they are out of the mainstream benefits of the exalted positions. It’s shameful the most intelligent/ competent people when they work abroad do well and in their own country they are like Lambs 🙈🤡☮️
Thanks to Arvind for explaining the economic health of the country and the steps required to improve the private investment in simple language.
This guy was also an advisor of Mr. Modi once. I do not understand how economists like him, Surjit Bhalla, Aravind Pangaria, Gurcharan Das have supported Modi's governance. Other day I heard Surjit Bhalla saying the world has admired Modi's leadership during Covid. Really? Where did he see the admiration for being an inactive spectator of lakhs of deaths during covid?
Mr. Subramanian is speaking so eloquently on how things have gone wrong. But did he show courage to say that demonetisation was a terrible blunder? Did he say the way GST was being implemented is going to slow down things? When an ordinary person with some economic understanding could understand the consequences, these guys toed Modi's lines. He speaks goodies and facts now when he is no more a part of the Modi's circle. And, even here he does say that Modi government has cleaned the banks. Really?
I fear experts like him more than the leaders like Mr. Modi and Mr. Yogi. Now India has started sliding on socio-economic scales. No one can stop it. People will keep digging mosques after mosques, and with that their future. Only way to stop this to acknowledge there is a problem. Then transparency, coupled with real democracy and very honest and free discussions can start making some impacts. Politics is one thing, but when it comes to economics, the central government will have to consider the state governments equal partners. When dealing with economic decisions, politics should not be there. Can Modi do it? Not in his genes. So, India cannot resurrect.
Do not be fooled by stock market performances. Structural problems had started setting in since 2013. It has accelerated under Modi. The government has been busy in just blame game. For the last 11 years or so, the government has just kept on blaming Congress for all problems in the country. And, what it has done in these years, it never talks of that. I have lost hopes of real revival under this government. Since India is a 150 billion country, it will keep growing around 6% or a little more. What India needs though is a growth rate of at least around 9%. China grew by 10% for around two decades. India should grow at least around 9% for at least around a decade and half. Can Modi or this "Hindu Muslim" government do it? No chance.
And, words from these "experts" sound hollow knowing he was there when Modi used dictatorial attitudes to bring draconian steps.
When you are under employment of a dictator, you cannot but toe the leader's line. It is not fair to expect it. However, once he has quit, he has been consistent in identifying structural flaws. Hope someone in Modi's inner circle hears him.
Thanks to hum 5 humare 25 kaum,in few years we would be competing with Pak in terms of economy
Now even stock markets crashed😂
Well said Sir
@@mali3490agreed but that doesn't save him from his deeds.
I knew this since 2014. Everything is happening as i expected.
What we can expect from incompetent PM, FM & HM.😮
Thanks to hum 5 humare 25 kaum for pulling economy down
The FM had only one solution to all problems, apply GST
I remember Mr. Subramanian calling Raghuram Rajan politically inclined & pessimist in a debate in 2021 inside a US University. Today he's mentioning the same risks after 4 years
😂True.
I like Mr Subramaniam as he’s very practical with his thoughts.
Intimidating other investors like Ambuja cements, GVK, and snatching their businesses to give to 2As!
Current FM and RBI failed to manage the economy.
So Modi is there only for taking credit.
Its all Modis fault..credit where credit is due.b
Why Tamil Nadu has done better is the question we must ask. The answer is they have the guts to stand upto Delhi and pursue their own policies to the extent possible under the circumstances.
The most simple way to trigger growth is to give states some elbow room. Decentralisation and devolution of power. Every state has its own advantages, resources and needs.
In fact, every jumla modi said is actually brilliant - cooperative federalism, small government - big governance, make in India, skill India, startup India, swatch Bharat abhiyan, etc. Had they succeeded, India would be growing at double digit rate.
The reason they all flopped is because they were just jumlas. They were never really serious about it. Last eleven years were spent on encouraging crony capitalism.
I agree totally with Mr. Subrahmaniam that the problems are structural - both economic and political. Politics of religion is only making things worse.
The whole structure has to be redesigned bottom up, not top down. People have to be empowered to better themselves. A vishwaguru sitting at the top will not develop the country.
12:09 National campions= Ambani & Adani aka oligarchs
Arvind's observation that slowdown is structural and it is not temporary indicates that recovery is not expected in near future.
Correct sir.
My understanding of economy has greatly improved because of this interview!
When uneducated leader wish his yes men everywhere, it's a complimentary that the state will fail.
Today I burst into flames when Nagar Parika people came to my home asking to pay 100/month for the garbage they pick from my home. As if paying taxes was not enough now I have to pay their salary too.
Do they provide a GST bill for their services?
@arbjful Me and some of the neighbours didn't pay the amount. But they were carrying the billing machine
In Bangalore we are paying unofficial else they won't pick up.
One more thing is more important in business that is available in my state tamilnadu, harmony, muslims and we are living together without any communal agenda, slowly British janta party wants to create a rift inbetween us but till now we are with standing against them
Same in Punjab.
More power to TN and its people ! Your inclusive society , literate and skilled workforce, high human development scores, a state gov't that works to make investors feel safe are few of the things working in your favour. I see TN as the first 1Trillion USD economy state in the country. Best wishes
🤣🤣🤣🤣wait n watch
Very in depth Analysis which certainly needs to be looked into by our present Government before even thinking of just giving pseudo slogans for myopic vision of pleasing innocent half educated people of India instead of listening to economists view like our own Subramaniam the former CEA
Economic experts like Rathin Roy and Pronab Sen have been expressing their reservations about India's economy but this government has never listened or taken them seriously. This government is obsessed about social issues centered around religion, caste and community. Unfortunately social issues do not bring food on the table.... solving the economic problem does.
This government and its minions are busy digging...its own grave one presumes!
Our PM, HM and FM are trained in intimidation not in felicitating and creating an atmosphere to live peacefully. So no one would like to come and invest in our country.
The average citizen is well aware of the state of India's economy over the past eleven years.
Seriously, are they? If they were they wouldn't be singing praises of this government.
Fantastic and brilliant diagnosis
No wonder a larger footfall at the Kumbh Mela! 🥴
And some of them are planning to stay there for 6 months or so
Investment needs effective General administration, police administration, fast judgment by neutral judiciary, good quality mass education and other infrastructures etc.
Thank you karan sir for this wonderful interview, I think Aravind subramanyam under stand how deep trouble we are in Indian economy now!
From beginning some economist were telling that this government is manipulating the numbers today they are exposed at the end the common people suffering.
We are comparing ourselves with Pakistan not with China. The day when we start comparing ourselves that will be day of our country development.
Our government stop spending on unwanted projects like UCC, CAA, Wakt board & doing Hindu Muslim.
And this is why we need highly educated experts and specialists driving government policy instead of boot licking ias officers and glorified chai waalas.
ONE OF THE GREATEST IMPARTIAL INDIAN JOURNALIST.
Supporting the cause
Excellent reasoning and solutions for India’s slow growth.
crony capitalism by Modi and favouring oligarchs like Ambani is another death knell to economy..this is why nobody wants to invest
India needs to fix its consumption engine. Tax slabs haven’t changed in over a decade, and cess and surcharges, introduced years ago, are still the same. The middle class ends up paying nearly 50% of their income on taxes and the rest on overpriced homes and education.
Big corporates and a few close cronies get massive tax breaks, while regular taxpayers are treated with distrust. The system feels unfair and discourages hard work because people don’t see any reward for their efforts.
The economy works on a simple rule: “What’s in it for me?” If people felt their hard work was valued, they’d willingly work 70 hours a week.
I wish the PM and FM would stop laughing off tough questions about taxes and instead understand the Laffer Curve-that lower taxes can lead to higher growth and a stronger economy.
Very good, discussion. Understandable.
Pm needs to change ❌
We need to change the pm ✅
It any foreign company want to produce in india they have to pay lot of money to corrupt people for permissions.
✨Ease of doing business✨
Excellent elucidation of the issues staring us in the face
Thanks
Sirs, we lack a cohesive economic policy integrating monetary and fiscal measures. Meanwhile, our finance minister is discussing trivial matters like popcorn taxes-an absolute failure of governance.
Wonderful interview. Great to hear Mr AS.
One of the reasons is bureaucracy. Why you need license renewal and visits by inspectors for small Industries. Where is the electricity.
In my view the government lost its priorities of economic development to temple and religious politics in order to stay in power and It worked till 2024. In 2024 elections the voters rejected Modi playing Godman. If they don't follow public sentiments BJP will be out in 2029.
हमे अर्थववस्था ,बेरोजगारी , भुखमरी, हेल्थ पर जयदा सोचने की जरूरत नहीं है
जोय्तिषाचर्या ने बताया है की भारत की शुक्र की महादशा शुरू होने वाली है
Brilliant
India needs Shashi Tharoor and Rahul Gandhi
Sir, even now, they have big vision , break mosque and churches, and build temples , extremely very sorry it hurts, no unity and humanity
What an excellent thought-provoking interview! I didn't come across the kind of analysis of the Indian Economy and Ideas that Dr Arvind Subramanian propounds here.
In the last year, I came across the appreciation of Mr Shaktikanta Das in running the RBI and there was a hint that the IAS officers are better in heading the RBI than the well-placed Economists that preceded Mr Das! That also hinted that they become difficult persons for the Ministry of Finance to handle, even becoming not just a pain in the neck but a pain much down below the people at PMO and the Ministry of Finance!
Now, I see a QUESTION MARK on Mr Shaktikanta Das's innings as the Governor of RBI who must have gone beyond addressing the volatility in the market for the Rupee and instead kept it at a higher level and that must have been as desired by the Govt.
😂
Excellent interview
Long story short we're screwed 42:27
I feel blessed, your interviews are there.
Jab raja hoga vyapari, to praja hogi bikhari.
*🇪🇸GREETINGS FROM SPAIN🇪🇸*
Very practical thoughts.
You are the god of journilism ...
Surely window of opportunities is very narrow to improve our economy as you discussed , but our present ruling government has wide window of opportunities to create communal hatred and polarized politics, truly we are in a troubled state as a society & as a nation.
This is quite an informative interview and educative in nature.
This ought to have more than a sobering effect on the entirely misplaced exuberance of the cheerleaders of this government which has led us up the garden path to the promised land of Viksit Bharat.
करण थापर जी बीजेपी का थिंक टैंक यह कह रहा था कि हम सत्ता में रहो आर्थिक समस्याएं अपने आप हल हो जाएंगे अब पता चलेगा कि चुनाव जीतना तो आसान है क्योंकि उसमें मैनिपुलेशन की बहुत संभावनाएं है आर्थिक ढांचे को चलाने के लिए मैनिपुलेशन नहीं चल सकती देश का दुर्व्यज्ञ था कि यह लोग सत्ता में आए और इन्होंने सारे आर्थिक ढांचे का सत्यानाश कर दिया
Corrective measures can be taken and things can be put back on track, but for that to happen the govt needs to first accept that things have gone wrong. That acceptance along with the willingness to learn from its mistakes and the capacity of character to accept advice from others is not visible. When you operate in the belief that you are a godsend, the saviour of the world, unanswerable to lesser mortals, that you are supreme, then the situation is hopeless. And when most of your policies are designed either to benefit your vested interests or to cater to your vote bank, these policies cannot be sustainable. The results are out there for all to see.
Its amazing how can some even so much as talk of Viksit Bharat when 800 million, ie 60-70% of population rely on government for their food intakes. For comparison, thats worse than 80% of african countries. Its time time to talk of starvation.
Problem is consumption driven growth. Indian producers will only invest if there’s sufficient domestic demand, not to export because they are inefficient rent seekers.
Central government has been underperforming but another root cause is state government apart from few like TS,TN,MH,GJ .They lack funds,lack vision,corrupt and inefficient sarkari babus,complex policies and regulatory framework,poor infra spending,freebies,etc...
I think the growth is being reflected due to unorganized sector coming into the organized sector because of GST implementation and digitalization of the economy. This is also the reason we see growth in GST collection. However, the growth is not as much as the GDP numbers show. Lack of investments by the private sector as well as lackluster jobs market indicate that GDP numbers are inflated.
Good economics is bad politics.
Get Pro Arun Kumar on board, he is warning since demonetization
Installing incompetent people at key position of economy on the one hand and sending wrong signals to FPI had done irredeemable situation in India
👌👌🙏
Current Indian leadership was elected on reforms and change. But it failed to deliver any of it. It prides itself on political will but on the contrary it took the most U-turns on policies due to street protests and resistance from the status-quo. It has priotised electoral gains over governance. India needs a bold, visionary and young political alternative which is clearly missing from the current landscape.
Rule of law ,no Ed, cbi, and decent courts
Government under present FM is clueless regd the economy
This is shocking
Who was doing foreign borrowing? Adani, Ambani, Tatas, Infosys etc. So Government subsidised them.
If he was genuinely desh bhakt he should have said all the drawbacks in the open when he was quitting EA to PM
There is no bjp in tamilnadu
The way to attract investors is by reducing their risk. There are many risks that an investor has to handle. The government should not add to their burden by adding political uncertainty risk, vindictive government risk and tax terrorism risk.
Thank you Dr Arvind Subramanian. I am a keen student of economics and find you to be the most erudite and wise scholar. Wish the person you once advised listens to you and not the RSS. That, their decadent policies are at the core of all the problems. Sadly, Modi is a product of this dogmatic ideology that is and will exacerbate not only our economic woes but more importantly, social to the point of affecting peace, harmony and safety of the entire society. Thank you once again Sir.
The CEA should be interviewed as well to know the opposite view
India consumer expenditure is increased because we buy things with are not essential, cheap Chinese items , money from our pocket are ending up few businesses man, finally out of country.
Look of amount we pay on mobile phones , data recharges .
People are changing mobile phone every year, even inmute repair people change phone.
Cars , electronics item ,most them are foriegn companies they take there profits out India.
Earlier people used to invest in real estate , tax savings scheme now most of tax savings scheme are plugged . Every year there changes in tax system . Every route where people used save money is plugged .
Our money is neither end with government as tax, emi to bank, rest to paying bills.
USSI
How much ever liquidity is induced in to system eventually it will endup with 1% of rich people .
Solution: organise group of traders market at different regions in india to sale manufacturing product where manufacturer can easily get order through these traders where consumer placed their order. Mean to say executing points of manufacturer and consumer.
TN is much ahead of all states and the issue is people like Annamalai from BJP
Subramaniyam has answered beautyfully about the authoritarianism issue.(38-40 minutes of the video)Modi govt refusing to listen and address the financial devolution to the southern states amounts to authoritarianism.
The solution still is LPG; maybe the government could rename it. However, the question is whether the govt is ready to move away from crony capitalism, which finances the powerful.
TO MAKE THIS ECONOMY GROW @10% MODI AND THE ENTIRE JING BANG MUST GO. IT SHOULD INSTALL A VERY FORWARD LOOKING A VERY VERY SECULAR LEADER DOMEONE LIKE DR MANMOHAN SINGH SHOULD COME IN. 😊
Basics: Peace is pre-requite for prosperity, which monkey minded people are incapable of.
Till Baboon Janta is at helm, expect economy to b hell ! 😔
When was the last time Modie talk / visited to a local from the village / slum ? and the last time his motorcade stop by a cow or dog while he's inside the car ! ?
26:42 The govt and RbI was working for the benefit of the oligarchs to enable their borrowing to buy foregn conpanies and tech..
There was also no other way for domestic companies to compete with foregn tech ..so they allowed a climate of borrowung for Tatas, mahindras , ambani.s etc..
But those companies can be encouraged to do that if there is also a general investment climate in resewrch and i.p inside the country ....the latter is woefully lacking and will not change..
one of the reason is this guy. Who was the cheif economic advisor during demonotization? Deflecting all the question which may indirectly poit towards him.
Was he ? And kept quiet ?
Do you who made the recommendation to the goverment? I dont know.
💯chor admi as a Chief finance advisor.
Raise questions: why nps deduction for the govt employees is 14 Percent while private employees are 10 percent
Frankly, don’t think one requires an intellectual discussion on why India’s story is not happening and has not happened last 75 years! We don’t have a functioning judiciary and a facilitating bureaucracy. Plain and simple. In the digital age, all Modi Ji has to do is direct all Ministries and departments and PSUs to get their websites and online presence benchmarked by an independent auditor. The exercise will throw up so many contradictions because our rules and procedures are looped and to attain parity with say Amazon or Apple or Facebook sites the bureaucracy can reform, if there’s a political directive. Recently, I got my international drivers permit issued via Parivahan website online without visiting the RTO, but the online uploading and navigation was a painful 6 hours versus the 5 minutes it should have taken.
So just Kumbhakaran..this Giant has finally woken from his slumber 😂. I'll never forget how he acted like a government lacky for years.
you must pitch these experts against some allrounder .
Chauthi Fail💩Corrupt🩴MoAdani ki sarkaar ghaate mei chal rhi hai aur dusri aur IITian UPSC Topper ❤️ Arvind Kejriwalji 🇮🇳 ki sarkaar 10 saalon se munafe ka budget de rhi hai.
❤🌸World Class sarkaari Schools and Hospitals.
🌞1000 Mahila Sammaan Rashi har mahina.
🌻300 units free electricity
💮20,000 liters free clean water supply.
🌺Clean and Corruption-free governance.
🍁1000/month to 18+ ladies.
🌼 Free Mohalla Clinics.
🏵️Gurrentees Jobs to job aspirants along with leak-proof conduction of exams.
🌸1 crore to the family of shaheed Indian army soldiers.
Aam Aadmi Party🇮🇳❤️
It looks he is close Chidambaram.
Tamil Nadu govt is most corrupt state with close competition with Karnataka.
No investment has come to Tamilnadu. This guy is Anti Modi from day 1. He wouldn't talk about the way PSU Banks were bankrupted during Sonia & MMS rule of 10 years. Raghuram Rajan talks more sense. Now that Raghuram Rajan has withdrawn from politics, this guy must be dreaming some important role if Congress comes to power in 2029. All his allegations of National champions is absolutely baseless. He is the one who suggested cash transfer of ₹72000/- a year in place of subsidies. Now that has every state is giving money for women, free bus travel, free gas ...he says it is not good for the economy. I fear these characters more than politicians. They are as good as those foreign forces working to break India
Ask Modi maharaj to resign from his post. Atleast ask him to listen to similar podcast to understand the current situation.
Accept Aravind in all arguments .. But to underestimate domestic demand for India to grow - I Wont accept his take. he always insists on export led growth . he is wrong on that score. China had looked inward in the aftermath of 2008 crises.
contrats this interview with the 55 trillion economy LIE by Modi chamchanomist Krishnamurthy subramaniam who was also an ex-CEA..shamefull..it is these chamchanomists who let down the country
India IS A POOR country with a very large population and the people in authority who are supposed to protect the country and its citizens interests have become spineless and only speak/ criticise the government when they are out of the mainstream benefits of the exalted positions. It’s shameful the most intelligent/ competent people when they work abroad do well and in their own country they are like Lambs 🙈🤡☮️
Wire channel is best channel 👌
Modi never change his dna.😅😂 We "poor" indians need to accept it. 😂😂
The guest speaker telling truth .n giving realities .