Exclusive | Raghuram Rajan on his new book 'Breaking the Mould' | Interview | The Hindu
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- เผยแพร่เมื่อ 25 ธ.ค. 2023
- Former Reserve Bank of India Governor Raghuram Rajan who has returned to teaching after his stint in India, talks about his new book, Breaking the Mould: Reimagining India’s Economic Future, authored with fellow academic Rohit Lamba, that makes a case for a fresh approach to crafting India’s economic future. Edited excerpts from an interview.
Read more: www.thehindu.com/books/books-...
Interview: Vikas Dhoot
Videography and production: Richard Kujur
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#raghuramrajan #breakingthemould #economy #indianeconomy
Prof. Rajah is absolutely correct in saying that the License Raj and subsidies should be very minimal, and the quality of education should be improved. Right now there are academics without a single article in a referenced journal who hold full professorship and guiding doctoral students. The first level of offensive measure is to enforce an outcome based administrative structure and practices through out the public sector.
Classy, no-frills Hindu interview of a remarkable man, so grounded that BJP has sadly sidelined.Hope Dr Rajan becomes the next DR Manmohan Singh
Then the economy of India will be like that of Pakistan.
You must idiot to believe that. The very reason India's economy did great after 1990s is reforms Congress brought in liberalizing the economy and Manmohan Singh had a big role to play. I'll give credit to those policies of what economy is today from what it was in 60s. Because policies don't bring immediate changes. But what happens after now, it will BJP govt led by PM Modi. If the economy grows to 5-10 trillion, these policies they are making today will actually show results 5-10-20 years later. Suppose if govt changes in 2029, I will continue to give credit to Modi policies , be it good or bad, Because policies take time to show results. So most of what India achieved today is because of policies of Congress in LPG reforms. But yes, Modi govt has done their fare share of job, in building infrastructure, rebounding after COVID. But we really need Rajan is also saying. The best educational institutes. The companies like Apple which don't manufacture but hold maximum R&D, the Instagram from India, the Mercedes from India, The Korean skin care type best cosmetics from India. Of course, we should grow manufacturing, no denying there, but what he's saying is just that let's not forget and sideline what we already are good at, that is software. We can build great AI software. And he's actually right, when he says that west is not going to tolerate another China. Meaning that we can't copy what China did. And even if we does get all the manufacturing of the world, it will be more like automated manufacturing in future, meaning it won't create that many jobs it did in China. Let's have this discussion at greater level, so that our country's future is the best 😊@@DipakBose-bq1vv
This person is s fraud. He is a agent of American banks and IMF/ world bank. During COVID, he with Rahul Ghandi tried to pressurize Indian to distribute free money to businessmen and people like his masters in Western countries were doing. Indian government ignored him and Owl Ghandi and saved the Indian economy. All the western countries who distributed free money are suffering from high inflation and banks raised the interest rates now. Citizens of these countries suffering with double edeged sword of inflation and high interest rates and India is growing. Modi ji knew that Raghuram is a mole of IMF who wants to take control of Indian economy. Thanks God, he got rid of this western agent. He was installed by Manmohan Singh on suggestions of IMF. During second tenure of UPA government, when growth rate started dropping, he asked the banks to distribute money to businesses that raise the NPA of banks and Indian banking sector was on verge of collapse. It took long time for Modi government to manage the mess created by him and Manmohan Singh. All the bank scandals of Nirav Modi and Malviya were due to the policies him. He is always sent by IMF from Chicago to India during elections and other important times like COVID to support their agenda. He starts appearing in the media on behest if IMF because it has not been able to control Indian economy since the Modi government...
Tremendously fine interview by hindu make sense that how much our skill wealth remain unutilised. Further since no adequate professionally managed economy in india ,creating a non sense in our total economical system.
Raghuram ji no doubt excellent economist with broad vision is very clear as how Indian economy to be managed. His knowledge at broad level wd or may change the face-lift of present economical demerits.
Couldn’t the managers of The Hindu come up with a silent interview space? Even Raghu Sir seemed distracted by all the noise.
What Dr Rajan suggests is a great but I don't think a large section of the population is keen on staying in school and upskilling. The population which is interested in school is either staying in it out of fear of losing all the financial progress their parents have made or to just get a degree to gain the credibility of being literate or to only take a path to gain some wealth. There is a significant chunk of people who are looking for a way out so that they become an earning hand in the family instead of a burden. But the question also remains... will educating oneself fetch one a decent paying job. The incentive of job immediately after graduation is no longer there even for those graduating from 'good universities'. A real solid scientific and/ industry breakthrough is what will create jobs and we are in desperate need of it. But will it emerge out of the second of reforms that India needs that Dr Rajan is suggesting is a question that will only be answered if we make the attempt. Good questions posed but I think the Govt is keen to not lose out on some of the manufacturing and PLI opportunities that have thrown themselves at our doorstep. As the saying goes, opportunities knock on our door only once.
Raghu sir apne Congress ki "Nyay" scheme banai thi usme kitne paise jate?
Sir ji phir ye Gyan kanha chala Gaya tha😉😄😄😄
Congress jodo yatra chalu karo sir...
In his first book, he argued that india should shift from supporting msme/manufacturing sector based industry to more of a luxury services and goods supporting nation. Look what is he upto now.
The most powerful conversation, I have ever heard ❤👍🏼
Amazing 🙏🙏🙏🙏
Failed ideas
Why the interview is not being taken at a quiet place ?
if a good education and university were the keys to financial and social betterment and prosperity, then the UAE and Dubai would be among the top nations, importing institutions like Harvard and MIT from the USA. With all due respect to Mr. Rajan, it's a misconception. Education is not suitable for the Indian mind; history has shaped Indians into what he labels as 'Jugaad.' First, Hindu kings, followed by Islamic kings, and later, the British, ruled them for hundreds of years.
India is a country where religion will remain the most important factor for the next 100 years. To understand how China and Japan, and Germany have achieved development and prosperity, one should examine their religious demographic statistics. It becomes evident that the majority of the population in these nations is atheist, meaning they don't adhere to any religion. This is not the case with India.
In India, even a happy inter-caste love marriage can be challenging, indicating that individuals can't freely choose and marry the life partner of their preference. Going against societal norms can lead to ostracization from one's community. Until these issues are addressed, and the mindset of Indians evolves, it's unlikely that India will experience significant, sustainable growth for centuries to come.
What a pointless analysis, China may have an atheist population but the other countries you mentioned are deeply religious. And UAE Dubai, doesn't even have good universities, good universities must also be supported by industry which neither country has they only have enormous oil exports.
Religion was never a detriment to any country, if it was countries like France, Italy, Poland , US would never have made it big. In fact the most religious people in India are in the south of India and they are the most developed states.😂
@@gtgd_797 Dear, if it was a pointless analysis, then why are you making a comment. Probably you got my point. I wish you could just re-read the last paragraph of my comment and then reply again in the light of religion.
@@vib_di societal norms may extend to marriages but not the kind of education and jobs you get. Your opinion on religion is still a pointless one, some of the most accomplished people in this country are religious people, inter community and inter caste marriages may have been a taboo before but opinions of people are changing and will keep continuing to change. It's rich how you denigerate religion when you still haven't answered how some of the most religions countries like Japan, France, Germany, Italy,and Us made it big.
@@gtgd_797Agree with you 100%. My comment is pointless. You are correct. Hope you will get Noble Prize for your victory. Wish you all the best.
@@vib_di Is religion responsible for malnutrition?
Excellent Interview... Each time I listen to Dr. Rajan i learn so much...
19:48 Thank you Raghuram Rajan sir. I agree with this statement, equitable growth is the accurate path. I believe taxes and subsidies should compliment education relative to SMEs and MSMEs to bring economic development from Asia. The higher the frequency of trade with our Asian neighbors, the more opportunities for capital investment to develop infrastructure as a consequence for all stakeholders. Prioritizing Agriculture & Healthcare would result in a multiplier effect for all other industries involved in the process.
These are all wishful thinking but not practical policy prescription.
great insights ! reading the book
💯👍🏼
I believe in the business cycle subsidized case would be an engineered AI again and again making whole thing more Robotic.
Is speaking against the government is speaking against the nation?
Look at the comments here, That’s how BJP RSS and bhakts are building the narrative . Even asking for evidence has become a anti national activity . Even opposing Modi policies is categorised as such .
He hasn't opposed any particular Modi policy in the video, in fact he never mentioned a single scheme. His analysis is extremely wishy washy. Several times in the interview and in the book he contradicts himself when he talks about malnutrition and India's grads not being employable and then says that govt. Should focus on high tech services and IT.
👍👍
🔥🔥🔥
RR was the most overrated undeserving governor of RBI. Just look at him now he is jobless?
I will never buy a book from someone, whose actions were questionable sitting in a responsible position. Also, he is not independent and unbiased guven his political affinity.
Dear friend, I think you are being too harsh on Dr Raghuram Rajan.Please dont forget his academic credentials are excellent- he is a graduate of IIT Delhi& IIM Ahmedabad two of the most prestigious institutions of the country. Please remember that he was the chief economist of IMF. Also he is credited with having predicted the global economic meltdown in 2008.One of the few economists to do so.Also he is a world renowned economist. Currently he is a professor of the university of Chicago. So don't pull him down by saying he is currently jobless, which is, of course, ridiculous.
His point is, for a hungry and impoverished person, if someone offers you a chicken leg with bones, you should refuse it. Instead, you should wait until you have chicken breast because every bite of chicken breast is pure meat. There's no need to waste time on the bones of chicken legs, and chicken breast has more protein and less fat compared to chicken legs.
😂 what a complex analogy!
That’s a good way to put it
He doesn't say anything remotely of that sort?
Please invest some money to record in a peaceful place without background noise.
Your Director Monseiur. Signora Virna.Pandey
VZAI
i want see a conversation between raghuram rajan and justice chandrachud
Is Hindu office so poor in profits. This interview room background is bad showing broken plywood joined to achieve some closure.
China is not sending much money to The Hindu; China is about to go bankrupt.
Graphic 4 on 1 for extracting 2 or 28 you never know where went 3
Why BJP Modi govt never have meeting with some visionary intellectual and discuss basic issue of society? It clear that BJP RSS don't want empower rest of Indian middle and lower class families. Our PM proudly says they distributed ration to 80 CR families.. and not realising why such big no of people still in poverty? Shame
such a insightful conversation but please dont ever use this weird music again , everrr
Lot of background noise
Arrow Shirt in White. Move 58
Folks, Dr. Rajan is right, but please everybody understand, under the current political system the nation will not develop! It has no incentives for politicians to do the right thing. So please the blog indian-liberal at medium. Do not waste hope in this rotten system, establish a new system, one that values democracy. I would be delighted to have this blog be brought to the attention of Dr. Rajan and anyone else!
Yes truely 2n gen reforms,how the actual imagination work,shall we the common will be evacuated?
why this man more concerned about India when he is working on American soil for decades, he is a lecturer and he wants to run a BIG country BANK, where he has no clue about grass root issues
Doing so much pr for his book ?
Well, the book is just a byproduct.
It's one of their last ditch efforts to create a believable narrative to establish Rahul Gandi on the throne so that their 'golden era' of UPA cames back.
👍
It is sad 50% of gradates are not employable our GOVT doesn't bother about it, instead they will build Temples if incumbent GOVT is elected again.
Breaking the mould ....a guiding star to us as talks about wastage of talent.
Raguram Rajan is one of these people who are given academic positions overseas for one very good reason, so they will be indebted to the host country and be useful idiots to his new masters. So that they can be used to give ill advice to India . He has sold himself to his new masters and appears often to preach that India should forget about manufacturing and focus on the service sector. We all know what happened to western economic advice to Yeltzin to sell off their assets that destroy russia , imposition of Plaza Accord(1985) to destroy Japan resulting in 85% drop in real estate value and Japan still hasn't recovered, the attempted distruction of South Korea by IMF in the 2008 financial crisis recommending the interest rate be raised to 25% and to sell off export oriented industries(sayonara to Samsung etc) just to mention a few. Listening to Sangeev Sanyal he said if indian government had listen to the advice of US economist India would have gone the way Sri Lanka has gone. People like Rajan are traitors to their motherland and I am not surprised this interview was with The Hindu which itself has turned against hindus, perhaps it should consider changing its name.
I agree to RR. He cares for this country
Yeah maybe that’s why he now lives in America and his children are there too!! He really loves to send his advices from there !! And I appreciate it to a point where, when I am done listening to him the feeling I get is similar to emptiying my bowels!!
Sir why are you a professor in "Chicago" University and not in some Indian University?
I think we need you more than Chicago does!
Bengal Another Country A None Sine Q ball game 🍓 together
जो जिम्मेदार पद छोड के भागा उससे क्या देश की भलाई के प्रश्न पुछ रहे हो...😂
His theory are failed at best
😂😂😂pappu ka pyada ab bolti band
Fragiled economy Bharat ko banaane keliye kitna yogdaan kii?
Demonetisatiin ke samay Bharat gira hotta to Congress satta men aatta?
Aur Financial minister banaane ka soch Demonetisation ko fail karke sankalp poorti karta?
Aisom ne rashtr seva kii ya parivar ka chamchagiri?
Why are you giving free content? Make everything paid 😂😂
Rajan is not an economist by training. He is an elecrical engineer turned mathematical finance theoretician, nothing to do with Economics. During his tenure as the Governor of the RBI he nearly destroyed the economy of India.
Wow... Salute your wisdom.
Says a 2 rupee troll educated by WhatsApp University
He does what he does lolol
What is his contribution, he is only a talker
Dear Raghu Ram Rajan, do you realize what damage you and your supporters would cause by not having a strong leadership for Bharat ? No doubt about your brilliance but, you need introspection if your intelligence is influenced by wrong forces ow you yourself wear wrong glasses not to appreciate the change in Bharat we saw through past decade and the world recognized … does your alternative leader Rahul has ability to serve even as a clerk in RBI ?
Do you realize what damage Dr Manmohan Singh’s rule caused - not because he was not brilliant but because he was in the influence of wicked corrupt forces … are you dreaming to be in power in the shadow of Rahul ?
Wake up !
Even if media persons or voters think they are smart enough to find faults in Modi or his governance, they can’t afford to be foolish enough not to vote to re-elect or support Rahul and his folks …
Not having Modi government back to power will terribly ruin Bharat … this is not the time for complacency nor for allowing poisonous media smarties spread poison … all wise citizens must realize this very seriously and do something about it in their capacities…
Feel free to openly oppose and criticize complacency wherever you may spot … even among near and dear ones … the forces behind Rahul and his gang are very damaging for safety and survival of all law abiding common citizens in coming years …
This man is the greatest deceivers of all time. He only preaches his failed theories and has only 1 recepie for our country, which is to eternally keep her in the 3rd World. No doubt the failed newsgroup is interviewing him. Birds of a feather flock together.
His exit from RBI was the best thing which happened to our country. His book is a perfect toolkit for those who believe and profit from our country being eternally poor.
Bang on. Absolutely 💯 percent right.
Tells an uncle who is phd in economics and works in Asian Development Bank. 😂
@ArunPandiyan6 Mr.Pandian, keep voting DMK and then blame Modi for country's poverty. Good luck with poor jokes, your life is a misery as you know it.
@@pimlico_qld DMK rules only in Tamil Nadu. It's one of the most developed states in India, unlike North India. Why shouldn't people vote for it?
@sr-gc6vh Its one of the, not the only.
What are the hazards of going to 30 hazari and carrying on child abuse of ones own sons for G20 years. And its reimbursement to Mr UN Pandey family Captain Lloyds Register Shipping Corporation UK
"Lets make India one family first and show that to the world. Lets not say this person is and that person is that. Everybody is a first class citizen in this country, everybody belongs".. Please tell this to BJP (altho it is a basically a mouthpiece for businessmen like Adani)
He was the worst Rbi governor India had
Nobody in bjp knows any economics Mr Swamy, a bjp member itself says . So called bjp andhbhakts may soon realize the truth.
Only the Congresswalas know any Economics !!!! They employed this Rajan.
There will not be anything worth in his book. We know him
This journalist don't ask questions about there Tamil minister abusing north Indian and hindu people so biased media
That's all your vast intellect can see.
My Future PM
Rajan was timely kicked out by thd BJP government. India needs a practical economist and not a theoretical one. Both The Hindu is a bogus, biased newspaper that spreads propaganda.