He is the genius who came up with NYAY programme for Rahul Gandhi to include it in his manifesto. NYAY programme giving ₹6000/- per person, a non starter, a programme nobody believed would ever be implemented. For the BPL families, they get a free house under IAY, free electricity, now ₹600/- person every month. Will these people really have any incentive to work for their living? NO. If the govt. of the day starts giving every thing free who will work, and why should they? Who will pay for these schemes? Hard working people? Why should they work at all then?
Rs 6000 per family not per person. As Abhijit pointed out in many of his lectures before there are many schemes on which much money is wasted, so those schemes should be scrapped and those resources can be used in NYAY. This is the only way to increase demand right now. PM Modi can do anything to lure investors in India but unless there is demand nothing can happen.
if you have enough food in your stomach then you think about education and skill development i think 60% population of India are rural and out this 20 % don't have access to full fill there basic need like roti , kapda and makan by giving them 6000 Rs at least they have sufficient food for there family so that they can work or think for the future , you know what there are still rural area in India they don't have enough money to fill there stomach for two time in a day i have seen it , two days before a women die in Jharkhand because of hunger and by the way what ever government giving free it has some limit after that they will also charge even for electricity they have put certain limit if that limit is cross then they have to pay same for water also
NYAY was not particularly his idea n though he was on the panel he never actually a great supporter of the project the way it was, he reapeatedly told this in many interviews, numskull rahul gandhi used his name n fame to advertise themselves
What a fantastic analysis of Indian Economy! Indian bureaucrats, politicians and the stubborn rightists should sit through this lecture and learn something meaningful. He has the most robust understanding of Indian economy.
Was there any question and answer session as well after the Raghuram Rajan and Abhijit Banerjee? If yes, it would be helpful if that is uploaded . Thanks.
Some good points. 1) Govt should not over react to the slowdown. 2) Put more money in people’s hands - I would say reduce direct taxes on middle class 3) increase farm prices - this will support our farmers 4) raise MGNREGA wages - the poorest will benefit as Modi has cleaned out the corrupt from the list
People that are lamenting the BJP government haven’t heard his speech; he clearly says India was doomed before BJP came into power! So, let’s not blame BJP government for the mess we are in.
6 years were more than enough to take proper steps to over come the mess created before NDA or atleast address it and start working on it but what did they do ? Made it worse ,Played with common people's emotion , time , productivity ,freedom made life hell
BJP came to power to resolve those issues.. and six years is a fairly long period to stem the rot... don't blame BJP Govt is a indefensible position... unless it is the Gujrati blood you wanna defend...
Vishweshwer Mangalapalli I’m not sure why you feel the need to bring state/blood into this discourse? Second, do you know what the BJP could have done differently to resolve the economic crisis? Or, you really believe BJP has a magic wand to fix economic issues (mess created by the UPA)/trade disputes around the world?
@@pritesh0117 : Let me start with an apology for bringing in the state/blood etc. I have many valid reasons to criticize this Govt and let me list them: 1. Demonetization was a ill conceived economic intervention and studies are now coming out to show that it has had a negative impact on GDP growth to the tune of 2 - 3%. Do you know what the lost opportunity of growth means? It means livelihoods, well being, hope and security. Modi destroyed that (for a while) for millions of people in this country and what has the country gained? Zilch.... Subrmaniam Swamy himself is saying that counterfeit currency is back into the system with a bang. BTW growth also means savings - if you understand 101 of macroeconomics you will agree with me 2. GST - another ill conceived move. The Revenue Neutral Rate of GST should be anywhere between 25 - 28% ... what this means is that you have blown a structural hole into the Govt revenues.... Studies have shown that for GST to contribute to economy will take 14 years and any slowdown in the interim will only put strains on the fisc in a big way...and to introduce this poorly planned tax infrastructure the tacky midnight drama in parliament looking back deserves to be puked. 3. Suppressing agri prices to keep the urban consumer happy... That is not only bad politics but bad economics. In this country it is easy to anesthetize people with religion and that is what this Govt has done and is doing 4. This Govt knows who the defaulters are - nothing has been done to bring them to book - show me one businessman who has been brought to book... 5. The foreign policy is unraveling faster than Draupadi's saree. Wait till you see what China is going to do with us at RCEP... Today's Hindu carried a nice piece on the same... Read it if you can 6. Poor investments in agriculture, irrigation, agri markets, education and healthcare... Ayushmaan Bharat is yet to take off anywhere... 7. The biggest danger this Govt is posing to the nation is that it is killing institutions and fiscal federalism.... Take it from me in another 10 years millions will regret for voting these thugs....
I have few points 1. NDA Government brought in Make in India, In electronics we see some improvement, but as a whole that has not worked. 2. Higher inflation would have made things worse, Farmers also had to buy expensive things. But , 70000 crore was to be sent to Farmers as per last budget. MNREGA would not hav helped either. 3. Policy paralysis in UPA was due to ineffective PMO, this time PMO seems to be actively trying to move things faster. 4. Revision of GST is required.
Abhijit Banerjee's views on macroeconomics are just as relevant as Einstein's views would have been on cardiology ! Abhijit us a Development Economist and that makes him a non-economist to the mainstream economists like subramanian swamy
Well lets stick to d swami part ur comment..why Modiji didnt make him FM instead of Jately??!! Jately, though very sharp, was trained as a lawyear and has no idea of depth n nuances of modern economics, diz step of govt in 2014 totally defies common sense..we all voted for bjp n expect a minimum sense from our PM
@@rajchowdhury3006 Swamy is too independent a man. He is not used submitting to authority . If he is the finance minister, then its his call. NO INTERFERENCE FROM PMO... Now that does not suit Modi's style of working who has very strong views on every matter..they collide inevitably. THAT RULES SWAMY OUT...They just cannot work together. I am still a fan of Modi ( and a critic) but strongly that he should listen to scholars. THAT HELPS THE NATION.
& mnrega also does not works properly. I mean RTI acts land acquisition act and mnrega acts are blunders. After upa nda continues the same. Another blunder.
Rahul Gandhi just stated that the latest Nobel winner of Indian origin was one of the consultants for the INC's non-starting poll plank... NYAY!!!! Therefore lets transition the prize to Rahul Gandhi :-)... if only the Nobelist could have taught RaGa what to say to our janta by way of explaining the rocket science behind N.Y,A.Y... :-) may be he and they would have succeeded...instead of someone having coached him to keep shouting chowkidar chor hai... Looks like every idol of the olden times - including the Nobel is crumbling... every item of erstwhile prestige is losing its sheen...welcome to the new world... new india...
We can talk nice economic steps, but we r not adressing social causes, all these plans wipe out after talks... major problems in India.. Political stability, Administration stability, weak bureaucracy, social reforms, demographic balance, policy changes like law, education, rules setup ..like wise..basic things to be fixed..other wise we just up nd down..In my view bjp gov doing that..take some time to do bcz we do not have strong bureaucracy ..if these things fixed, whichever gov comes basic policy would not be changed and business continues...example in Andhra state gov changed, so they put hold all contract bills, they put cases on power project sanctions...these things should not happen for business continuity..
Properly added up is 9% of GDP. Bullshit, that's just an opinion of stated like that. Co descending k ow all attitude. Talk about what was not right. Do you know the US debt to GDP figures. All that he talks PMO involved in everything is exactly like Congressi talk... and he is OBJECTIVE.. .LOL....
Most f indian-americans are american citizen, n dey r the biggest nationalists n supporter of bjp govt, even more dan us, here we ve punjabi-gujrati-bengali-bihari-marathi-tamil type inter community conflicts, there they r very united for the interest of their motherland. U ve no idea what u r talking about😑
A Nobelist says it in so many words...I am shocked to say the least. So can any science classify itself as a "gamble"...and remain a serious applicable-discipline in public life? Experts seem to mock themselves at this rate.Therefore to hell with all these nuanced man made systems called economics. Housewives/homemakers are more adept... and manage their economies far better than these theorists. Let us stick to door delivery of services...lets start at the micro level and fulfill needs... macro stuff can be spelt out and stay on paper - the way the harvardians and oxford and cambridge types have played with the collective bourse of this country and have been allowed to get away with everything by the unquestioning...smiling...supportive media all these years is a shame... We better let the Modi2.0 function without everyday hurling abuse. and curses at them - that is becoming a clear option at this rate.
Madam, he is not just a Harvardian, but also an amazing product of Indian education system, apart from running his lab he went around rural India for his ground-level understanding of the economy. He has gained the direct empirical knowledge of poverty in India, that no arm-chair economist will ever dare.
" harvardians and oxford and cambridge" -- Proper nouns should start with capital s... Before you criticize Harvard, Cambridge, Oxford... you should learn this basic when you write... aayi badi... Bhakts are worse than human beings and female bhakts are worse than bhakts....
@@mangalapalliv I think you should be reported for extreme misogyny and extreme hate. This is a social media page - where people post using their mobile phone keyboard - please stop giving sentence and spelling related gyaan - I neither care for this language nor the so called nobel prize - I am free to type things the way I want to - you are nobody just nobody to give such insignificant irrelevant input... but do be careful making colored comments - you can be reported.
u can see the nobel economists of 2020 in comment box....
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He is the genius who came up with NYAY programme for Rahul Gandhi to include it in his manifesto. NYAY programme giving ₹6000/- per person, a non starter, a programme nobody believed would ever be implemented. For the BPL families, they get a free house under IAY, free electricity, now ₹600/- person every month. Will these people really have any incentive to work for their living? NO. If the govt. of the day starts giving every thing free who will work, and why should they? Who will pay for these schemes? Hard working people? Why should they work at all then?
Rs 6000 per family not per person. As Abhijit pointed out in many of his lectures before there are many schemes on which much money is wasted, so those schemes should be scrapped and those resources can be used in NYAY. This is the only way to increase demand right now. PM Modi can do anything to lure investors in India but unless there is demand nothing can happen.
if you have enough food in your stomach then you think about education and skill development i think 60% population of India are rural and out this 20 % don't have access to full fill there basic need like roti , kapda and makan by giving them 6000 Rs at least they have sufficient food for there family so that they can work or think for the future , you know what there are still rural area in India they don't have enough money to fill there stomach for two time in a day i have seen it , two days before a women die in Jharkhand because of hunger and by the way what ever government giving free it has some limit after that they will also charge even for electricity they have put certain limit if that limit is cross then they have to pay same for water also
He advised for 2500 per person
NYAY was not particularly his idea n though he was on the panel he never actually a great supporter of the project the way it was, he reapeatedly told this in many interviews, numskull rahul gandhi used his name n fame to advertise themselves
What a fantastic analysis of Indian Economy! Indian bureaucrats, politicians and the stubborn rightists should sit through this lecture and learn something meaningful. He has the most robust understanding of Indian economy.
No mainstream media is gonna show this
Bikao dalla bharve godia media or thevdiya
Was there any question and answer session as well after the Raghuram Rajan and Abhijit Banerjee? If yes, it would be helpful if that is uploaded . Thanks.
You focus on bank SSC
Some good points.
1) Govt should not over react to the slowdown.
2) Put more money in people’s hands - I would say reduce direct taxes on middle class
3) increase farm prices - this will support our farmers
4) raise MGNREGA wages - the poorest will benefit as Modi has cleaned out the corrupt from the list
"Modi has cleaned out corrupt from the list" u really think so or was it a satire?
People that are lamenting the BJP government haven’t heard his speech; he clearly says India was doomed before BJP came into power! So, let’s not blame BJP government for the mess we are in.
6 years were more than enough to take proper steps to over come the mess created before NDA or atleast address it and start working on it but what did they do ? Made it worse ,Played with common people's emotion , time , productivity ,freedom made life hell
BJP came to power to resolve those issues.. and six years is a fairly long period to stem the rot... don't blame BJP Govt is a indefensible position... unless it is the Gujrati blood you wanna defend...
Vishweshwer Mangalapalli I’m not sure why you feel the need to bring state/blood into this discourse? Second, do you know what the BJP could have done differently to resolve the economic crisis? Or, you really believe BJP has a magic wand to fix economic issues (mess created by the UPA)/trade disputes around the world?
@@pritesh0117 : Let me start with an apology for bringing in the state/blood etc. I have many valid reasons to criticize this Govt and let me list them: 1. Demonetization was a ill conceived economic intervention and studies are now coming out to show that it has had a negative impact on GDP growth to the tune of 2 - 3%. Do you know what the lost opportunity of growth means? It means livelihoods, well being, hope and security. Modi destroyed that (for a while) for millions of people in this country and what has the country gained? Zilch.... Subrmaniam Swamy himself is saying that counterfeit currency is back into the system with a bang. BTW growth also means savings - if you understand 101 of macroeconomics you will agree with me 2. GST - another ill conceived move. The Revenue Neutral Rate of GST should be anywhere between 25 - 28% ... what this means is that you have blown a structural hole into the Govt revenues.... Studies have shown that for GST to contribute to economy will take 14 years and any slowdown in the interim will only put strains on the fisc in a big way...and to introduce this poorly planned tax infrastructure the tacky midnight drama in parliament looking back deserves to be puked. 3. Suppressing agri prices to keep the urban consumer happy... That is not only bad politics but bad economics. In this country it is easy to anesthetize people with religion and that is what this Govt has done and is doing 4. This Govt knows who the defaulters are - nothing has been done to bring them to book - show me one businessman who has been brought to book... 5. The foreign policy is unraveling faster than Draupadi's saree. Wait till you see what China is going to do with us at RCEP... Today's Hindu carried a nice piece on the same... Read it if you can 6. Poor investments in agriculture, irrigation, agri markets, education and healthcare... Ayushmaan Bharat is yet to take off anywhere... 7. The biggest danger this Govt is posing to the nation is that it is killing institutions and fiscal federalism.... Take it from me in another 10 years millions will regret for voting these thugs....
God damn I love his accent I didn't even listen the speech going to watch again.
What a beauty he is talking with utter clarity. Indeed a genius
This BJP government want have power in everything make things worse
Well since it's NDA government we can pray 😂👌👌
Google "Confessions of an Economic Hitman" it's available on TH-cam
I have few points
1. NDA Government brought in Make in India, In electronics we see some improvement, but as a whole that has not worked.
2. Higher inflation would have made things worse, Farmers also had to buy expensive things. But , 70000 crore was to be sent to Farmers as per last budget. MNREGA would not hav helped either.
3. Policy paralysis in UPA was due to ineffective PMO, this time PMO seems to be actively trying to move things faster.
4. Revision of GST is required.
Make in India totally failed, don't judge it by Samsung mobile....
I don't think many in the comment section even heard what he said, let alone understand .
I lost it when he said pray.
His end message was PRAY . So just go to the guffa like modi and pray.
valid and very intellectual sarcasm 20:14 ..
Abhijit Banerjee's views on macroeconomics are just as relevant as Einstein's views would have been on cardiology ! Abhijit us a Development Economist and that makes him a non-economist to the mainstream economists like subramanian swamy
Well lets stick to d swami part ur comment..why Modiji didnt make him FM instead of Jately??!! Jately, though very sharp, was trained as a lawyear and has no idea of depth n nuances of modern economics, diz step of govt in 2014 totally defies common sense..we all voted for bjp n expect a minimum sense from our PM
@@rajchowdhury3006 Swamy is too independent a man. He is not used submitting to authority . If he is the finance minister, then its his call. NO INTERFERENCE FROM PMO... Now that does not suit Modi's style of working who has very strong views on every matter..they collide inevitably. THAT RULES SWAMY OUT...They just cannot work together.
I am still a fan of Modi ( and a critic) but strongly that he should listen to scholars. THAT HELPS THE NATION.
Whats flickering
& mnrega also does not works properly. I mean RTI acts land acquisition act and mnrega acts are blunders. After upa nda continues the same. Another blunder.
How is the RTI act a blunder?
@@ashutoshsingh3204 RTI is now mnrega for so called patrakar themselves.
Oh he is Great
He is only describing the current situation, which we all know. The question is what to do now?
Since it is NDA gov we have pray... pray more...😂😂.... excellent sir... u r right...
Rahul Gandhi just stated that the latest Nobel winner of Indian origin was one of the consultants for the INC's non-starting poll plank... NYAY!!!! Therefore lets transition the prize to Rahul Gandhi :-)... if only the Nobelist could have taught RaGa what to say to our janta by way of explaining the rocket science behind N.Y,A.Y... :-) may be he and they would have succeeded...instead of someone having coached him to keep shouting chowkidar chor hai...
Looks like every idol of the olden times - including the Nobel is crumbling... every item of erstwhile prestige is losing its sheen...welcome to the new world... new india...
Even he also said Rahul gandhi that i am giving you the idea of Nayay...after that we both will pray for election result.
He is out of his mind ! Gamble ??
Decide kar lijiye bhaiyaji
Empty Nobel prize...
People.are calling him naxal
Since
We can talk nice economic steps, but we r not adressing social causes, all these plans wipe out after talks... major problems in India.. Political stability, Administration stability, weak bureaucracy, social reforms, demographic balance, policy changes like law, education, rules setup ..like wise..basic things to be fixed..other wise we just up nd down..In my view bjp gov doing that..take some time to do bcz we do not have strong bureaucracy ..if these things fixed, whichever gov comes basic policy would not be changed and business continues...example in Andhra state gov changed, so they put hold all contract bills, they put cases on power project sanctions...these things should not happen for business continuity..
Bring him to India
Properly added up is 9% of GDP. Bullshit, that's just an opinion of stated like that. Co descending k ow all attitude. Talk about what was not right. Do you know the US debt to GDP figures. All that he talks PMO involved in everything is exactly like Congressi talk... and he is OBJECTIVE.. .LOL....
Propaganda
@Getafix తెలుగులోనో ఇంగ్లిష్ లోనో ఏడువు...
ఏంటి నాయనా నీ బాధ ??
ఇక్కడ నీకొచ్చిన ఇబ్బంది ఏమిటి ??
Why he leave indian citeznship...dont belive this sold artists...
Most f indian-americans are american citizen, n dey r the biggest nationalists n supporter of bjp govt, even more dan us, here we ve punjabi-gujrati-bengali-bihari-marathi-tamil type inter community conflicts, there they r very united for the interest of their motherland. U ve no idea what u r talking about😑
A Nobelist says it in so many words...I am shocked to say the least. So can any science classify itself as a "gamble"...and remain a serious applicable-discipline in public life? Experts seem to mock themselves at this rate.Therefore to hell with all these nuanced man made systems called economics. Housewives/homemakers are more adept... and manage their economies far better than these theorists. Let us stick to door delivery of services...lets start at the micro level and fulfill needs... macro stuff can be spelt out and stay on paper - the way the harvardians and oxford and cambridge types have played with the collective bourse of this country and have been allowed to get away with everything by the unquestioning...smiling...supportive media all these years is a shame... We better let the Modi2.0 function without everyday hurling abuse. and curses at them - that is becoming a clear option at this rate.
Madam, he is not just a Harvardian, but also an amazing product of Indian education system, apart from running his lab he went around rural India for his ground-level understanding of the economy. He has gained the direct empirical knowledge of poverty in India, that no arm-chair economist will ever dare.
" harvardians and oxford and cambridge" -- Proper nouns should start with capital s... Before you criticize Harvard, Cambridge, Oxford... you should learn this basic when you write... aayi badi... Bhakts are worse than human beings and female bhakts are worse than bhakts....
@@mangalapalliv I think you should be reported for extreme misogyny and extreme hate. This is a social media page - where people post using their mobile phone keyboard - please stop giving sentence and spelling related gyaan - I neither care for this language nor the so called nobel prize - I am free to type things the way I want to - you are nobody just nobody to give such insignificant irrelevant input... but do be careful making colored comments - you can be reported.