People can see, unfortunately there is no credible opposition to the current government, so People have no choice. And government has no incentive to listen to government.
BJP always waiting and ever ready and crosses all standards of decency to amplify isolated events. BJP, will add masala to even silly matters and blow it out of proportion. Bjp always talks about IRRELEVANT SILLY MATTERS, neglecting CORE ISSUES LIKE UNEMPLOYMENT, INFLATION & TOPICS OF NATIONAL IMPORTANCE . They NEVER talk about thier achievements of past10 years and the plan for the future. Bjp always talks about VERY OLD (decades ago) ISSUES, topics ( POSTMORTEM) about Pandit Nehru ect.
@@Dadasahab1234 dear friend , India has made tremendous achievements during first six decades . The list is very long . I was born in the year of our independence . I very well remember the first elections . Princely purses abolished , Banks nationalisation , creation of several PSUs , From retreating before China to holding 95 thousand soldiers hostage and separating Bangladesh even when USA was supporting Pakistan and threatening us . All the world class educational institutions were created . Great hydro electrical projects , health sector , food sufficiency , white revolution .
@@kuntumreznolddas492 India's peers left India in the dust before Liberalisation. In fact India's share of global GDP decreased from 1950 -1991 ! How can you defend that ?
Politics is most lucrative business too make huge monies by using dirty la Guage against the opposition. Don't ever think that political leaders are interested in the welfare of the people of the country. People are useful source of tax monies fir politician to enrich the self.
We should not make a big issue of the statements about 90 hours work a week. The statement makers know that only the top hierarchy of an organisation has the motivation and associated allures to devote so much time.
When he said India should focus on creating better skilled plumbers, carpenters etc for low end jobs, my first thought was wouldn't those jobs be taken over by Robots? But then, I was struck with reality that this scenario is a utopian future. No one can be absolutely sure that it will happen. At least for the next 25 years, we can be fairly confident that though we will make efficiency gains here, these low end jobs will survive and keep their relevancy. Rajan has a point that India should make these jobs sexy and desirable. Currently, people have low perception towards these jobs and people working in them.
The civil society is crying hoarse over election commission stifling transparency in India's elections while the opposition pretends to sleep. The whole thing looks like a fixed match where both the sarkar and opposition are in the godi of few shady sethjis.
To me working 70 or 99 hours is rubbish statement. If you do a deep dive 8 hours per day on paper, but people waste 4 hours on Shop floor doing nothing. There are companies where the output is X numbers for two persons, they share the work between them and each works 4 hours and complete the production target.
With so much experience and knowledge, Prof. Raghuram Rajan, is so balanced in his views, and so respectful in expressing the same. Whenever is interviewed, the listeners get enlightened on current financial and economic issues. It is such pleasure to listen to him.
I just got a 6 % increment and a disappointing bonus.. so all my planned expenses and investments are on hold. So no real addition to the C in GDP from me..! Let’s continue to rely on the G in GDP for growth.. sigh..! 😮💨
Yes 20 years back -- Not any longer -- Manufacturing uses high end Robotics now a days makes all routines jobs automated -- I worked in a respuetd paint company in its older plant where we were around 600 people .. The company being progressive , they expanded their business and went for one more BIG plant in North India with 4 times bigger capacity than the factory I worked -- The number of people hired for that massive 3 times bigger plant was less than 100 due to massive automation -- Paint filling is major human intensive operation - Now we get high precision filling machine which does this job very accurately with speed .. Companeis will go for automation .. In Auto company they hired ladies in assembly line for avoiding trade union activities .. Hene creation ofjob through manufaturing > i seriously doubt
Yes but not unless the subsidy that the companies get are spent on more and more automation. Just what Rajan sir pointed out. Capital intensive manufacturing won’t help much. What we need is to leverage our cheap and abundant labor and therefore more labor intensive manufacturing. What an interview..! Nice 😊
@ For example Garment industry is labour intensive -- But there also automation is coming up -- Civil construction where large number of labour comes is also automated -- We can not stop improving efficieny just for the sake of jobs -- How many us do not buy Washing machine and ask labor to do washing job and pay labour charges ?. all mot nil .. Hence job creation comes later -- first we need to create activities which require people participation -- That is waht happened in 1994 when IT sector boom started -- More over in manufatureing 6 labour laws apply and all are same old socilaistic era laws which focusses on distribution of wealth -- Profit was bad word before 1991 . Long way to go -- VIKASIT BHART may not happen even 100 years from now
@@spg6651 fair argument..! 👌… I would add to that the increasing need to up skill our population too. As Rajan sir pointed out, Government’s intention (or advertising) about upskilling is good but transparency around data will help to know how much of that is achieved. I teach free Data Analytics over weekends and most of my students are from colleges that teach Python and Sql on paper. IMO, India still need to bring out massive numbers of people out of poverty first and that I suppose need to happen by labor intensive industries. Once the per capita GDP has improved, people will be spending more on education and upskilling (and spend less time on protecting dharmas) which will make population ready and perfect for roles that doesn’t require labor, like more people in Science like chip designing or GenAI. Love such constructive conversations. Thanks for chipping in. 😊
High inflation keeps rich, richest...The govt is supported and controlled by Rich individuals across the world today. DOLLAR dependency among global market is major problem, they are actually exporting americas inflation to all other countries, including india. They don't teach money in schools, Nirmala is a puppet in Rich pockets. Rupee value increases when dollar demand increases across the globe. China, japan, uk , many countries need to dump their dollar reserves immediately to resist the inflation
Great discussion! Lot of insightful points from Rajan and engaging discussion because the follow up questions were genuine and did not feel like prepared. These are testing times and it is important to build and maintain the trust in our institutions-electoral, financial and legal. 2024 nobel on fiance work was exactly on this topic. Also, we need to stop giving air and mind time to useless comments from 'leaders' who clearly may not be experts on everything.
What an insight from Mr RR, there are labour skills such as plumber, electrician, carpenter that needs to be up skilled. Manufacturing is not the only area to focus.
“Everyone finds their balance..” this is perfectly said..! I work a data analyst and trust me sometimes I work very long hours and sometimes I don’t give a damn. It just works for me. So no 1 working hour for everyone. It just doesn’t work to improve productivity.
Great conversation with Mr Raghuram Rajan. Loss to India and Indian Economy. Mr Rajan is having vast knowledge about the economy and having knowledge of how to manage / solve it .
WhatsApp University के कुलपति ने बताया है कि सेक्युलरिज्म ही रुपए की गिरती कीमत के लिए जिम्मेदार है। अगर ये शब्द संविधान से हट जाए तो अर्थव्यवस्था अभूतपूर्व ऊंचाइयां छू लेगी।🤡🤡
Indian economy has been strangled by extortionist eaids, high taxes and inflation. The windfall gains of trading in Russian crude are over so of course the economy now looks weaker which it has been for years. Demographic dividend has been turned into demographic liability dresulting in getting back to hindu rate of growth.
Rajan contradicts himself when he says manufacturing doesn't create jobs but we need more plumbers, carpenters, and electricians. High-end services jobs are also impacted by automation. IT has slowed down.
Only thing growing in india is gst rate. Charging 18 % on health insurance premium where governance fail to provide social secury after charging 30 % income tax on salary.day light Looting
"Better skilled workers and disciplined workers" - where are they? how to incentivise upskilling when so many freebies are given away by both sides. They are competing now.
The US will do what it needs to do to make their economy great. Our country unfortunately do not have 2nd layer leadership who think like patriots. So we are stuck , the only way out now is an economic negotiation with the US to survive.
Always curious to know his views. However, the wait’s been too long. Not because his views are not sensible. Of course, they are. Yet no clear pathways are indicated on a macroeconomic level. Simply put, sustained economic growth requires increases in monetary supply to follow, not precede, it. It’s a science, as Nobel Economist Milton Friedman puts it. So where is that money going to come from to sustain India’s growth? So far, GoI used monetary supply increases ahead of growth through infra spending to bring about growth. What we surely got from this is high inflation. So R Rajan is right in that GoI cannot go on spending at the cost of running high deficits for growth. R Rajan is also right that no longer can India depend on the West as an export market like Japan, Korea and China did in the 20th century. Western markets are saturated. Engaging with the Global South isn’t going to provide the high growth rate necessary for India either. So where is the money to tap into for sustaining India’s necessary growth? Perhaps, there is one last resort. Look inside India. Can GoI and state Governments reduce taxes substantially? Rather than keeping a large section of the population dependent on freebies/welfare, can they REDUCE the burden of welfare GRADUALLY from ~18% of GDP (where welfare is now) BY 3% EVERY TWO YEARS to 3% of GDP in 10 years? By allowing the people who earn the FREEDOM to keep a little more of what they earn, not only will consumer demand get a boost, but also investments in new small businesses. One might wonder why Govt’s spending the very tax money won’t boost consumer demand or investments in new businesses. Well it didn’t, right? Evidence too shows no one spends money better and more efficiently than the one who earns it. That person alone knows its value. Anyway, the increased consumer demand and new businesses from reducing taxes will create lots of new jobs. Will incentivize people to earn a living too. And this will have a multiplicative effect year after year, giving rise to growth. It’s time Govt stopped thinking of itself as the provider. More importantly, time people also stopped thinking of Govt in a paternalistic manner. Hasn’t worked for 78 years since 1947, has it? It’s only gotten worse and worse, hasn’t it? The only known age old proven way of a flourishing civilization is the one which lets its people the FREEDom to CHOOSE how they want to live their lives. If we still don’t, then where are we going to find the money for our growth?!
The Finance minister has new plans so India will look for better growth. It is a game India will play the cards close to the chest. Let us wait and watch.
Currency fundamentally is a mediam for exchange of goods. But itself has become a commodity. Did purchasing power of rupee decline relative to that of USD?
Bring down the dollar value to 5 ₹. Bureaucracy of India politics of India all of these things raising the value of dollar. i can easily reduce the dollar value to ₹ 5. Actual value of dollar is only 5 rupees but due to due to bad management and incompetent officials of India the value of dollar is increasing day by day. Just putting too much burden on the citizens of India on the people of India because of the bad management and bad governance that's why India will never progress.
Modi had and still has the chance to propel India..! But the damn old man will continue to do what is completely unnecessary..! Bas maje kar raha hai bhai..! What a life he is having. Wish I had the same life in my office. 0 accountability and bas jhoota jhoota unmeasurable objectives set karte raho.. 😂
The long term solution which needs immediate action is population growth rate. A low skill,unemployed and illiterate population dividend will become a liability soon that an asset and not keeping a check on that growth unless there is significant investment in primary education, vocational training focused on manufacturing and infrastructure development and huge private and govt investment coming into these sectors right now ( it’s already too late) will lead us to a dangerous situation of a huge demographic dividend with a unfathomable economic divide. If we don’t act now, a large part of India 2 will slide into India3 and a small part ( single digit %) of india2 will move to India 1 and that’s an India we will not want for our kids and grand kids. We want a large part of India 2 to move to India 1 and the whole of India3 to move to india2.
Democracy is a known monster from the days of Socrates Freedom or Liberty is entirely different from democracy. Freedom can only be defended by free gun laws (1931 Karachi Congress resolution promised it) End mad EVIL Indian democracy which demands human sacrifice of the best among people the merited , and of arbitrary by SC ST act. Proof that it is mad, is, 39% is greater than 93% Prime Minister Modi reiterated India's deep-rooted commitment to democracy, stating, "India has an ancient and unbroken culture of democracy. It has been the lifeblood of Indian civilization." He is being immoral here. Why? Hans Herman Hoppe "In a democracy anyone can covet anybody else’s property and act according to his desire -the only precondition being that he can gain access to the corridors of power”. It allows legalized robbery. Fact is wherever it was tried it was a failure, assuming Modi's claim as true. Else we would have elections and parliament before Europeans did. Kashmir was a wonderful place before democracy with hindu King and muslim population. Idea of Democracy is fatally flawed. Right to vote in company voting is EARNED in the form of number of shares held whereas in Political voting right to vote is distributed FREELY. Hans Herman Hoppe “Every new generation of politicians and parties appears to be worse, and piles even more atrocities and perversions on top of the already existing mountain, so that one feels almost nostalgic about the past” An improved version of East India Company, Consortium of competing Insurance companies can govern much better than any politician. Unlike politicians , Insurance companies can get rich ONLY if people become rich. If anyone wants to vote he has purchase shares of competing insurance companies. No chance of bribing voters. Joseph A. Schumpeter "Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can't bother about where they're going." - Democracy in huge multi-lingual nation is dangerous. Majority who don't love but worship HUGE India naturally wants to convert freely obtained into notes and goodies like reservation QUOTAS. Democracy name itself is a big lie. It's precise name is Majoriticracy. One-man-one-vote combined with “free entry” into government-democracy - implies that every person and his personal property comes within reach of-and is up for grabs by everyone else: a “tragedy of the commons” is created. Hans Hermann Hoppe. (Tragedy of commons briefly is neglect because something belongs to everyone leading to collective irresponsibility). Democracy is just a soft form of communism. Insurance companies can govern much better. Their business is earning trust. They have to face people on daily basis. Insurance companies prosperity increases ONLY with increasing prosperity of people. Insurance companies don't depend on media as Politicicans do. Insurance companies at least they will not set fire to country as Reservation policy Politicians do. Why? Insurance companies have to settle claims due to damages. They are much more stable than trading companies like East India Companies (EIC). Note used the word govern above..People will be rulers with them being heavily armed.Even War they were extraordinary. Look at what happened in Singapore in WW2. British tax eaters, government, lost it in days. With EIC in control, half the Japanese would be on side of EIC! Investors risk their entire Capital and find China run by communist party as good investment destination as leadership does not change every five years and they can invest in long gestation projects without fearing policy reversals as in democracy. Insurance companies last generation after generation. Democracy in infancy showed what a monster it was when it ended the life of Socrates who laid foundation of sciences by insisting on definitions. Later after enjoying Guillotining democratic France became Bankrupt and plunged Europe into European war. In democracy media secretly takes pride in spreading lies than truth as media function is make believe. Queen of France Marie Antoinette was Guillotined on 16th October 1793 , by democrats , had reportedly said "let them eat cake" when she was informed "that farmers did not have bread". This same charge was used against other monarchs as well. This quote "let them eat cake" is found in a book published EARLIER when she was a child, when she was not queen of France. It was a democratic lie (majority should agree with the lie!). That is the source of propaganda and total loss of sanity.. John Adams second president of USA "Democracy has never been and never can be so durable as aristocracy or monarchy; but while it lasts, it is bloody than either. … Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit sui..(end it's own life). It is in vain to say that democracy is less vain, less proud, less selfish, less ambitious, or less avaricious than aristocracy or monarchy. It is not true, in fact, and nowhere appears in history. Those passions are the same in all men, under all forms of simple government, and when unchecked, produce the same effects of fraud, violence, and cruelty. When clear prospects are opened before vanity, pride, avarice, or ambition, for their easy gratification, it is hard for the most considerate philosophers and the most conscientious moralists to resist the temptation. Individuals have conquered themselves. Nations and large bodies of men, never." Hitler was not Ghengis Khan or Taimur Lang or Attila the Hun. Hitler was hugely popular leader in German democracy with a well thought out Weimar constitution, with EFFECTIVE MAJORITY and with the support of other major political parties. Only democratic India had Kashmir files and there were no Saudi files, UAE files or Malaysia files where muslims are a majority. Even Kashmir before democracy was in a decent place before democracy. ================ Real tax eating empire started in 1947. It will not bring in promised free gun laws for self defence. Indians lost its freedom in 1947. Sensing support from people tax eaters in first budget imposed a tax slab of 97.5% including surcharges. 100% taxation is slavery Karachi Congress resolution of 1931 promised free gun laws: KR.2 vii. Right to keep and bear arms in accordance with regulations made in that behalf and such reservations as may be required- for public safety. Karachi Congress had all leaders, Gandhiji, Nehru, Subhas Chandra Bose and also Ambedkar. Free Gun Laws Promotes ahimsa as it makes violence expensive , due to threat of self defence. Threat is stronger than its execution. Gandhiji talked of truth and non-violence together. Violence is related to supression of truth. Therefore what's required is Unconditional freedom of speech. Gandhiji said Arms act was the blackest law passed by British. Why does it still exist? Bearing arms is not same as using them. Ahimsa is ahimsa of armed independent people. Many might object "What about School Shooting in USA"? Answer is why is there no school shooting in Switzerland, which too has free gun laws? USA is a huge empire that too a democratic one and empires are violent places because psychology of people becomes disturbed. Comparing comparable societies the number of homicides per capita in USA is ten times lower than in Latin American countries which has no free gun laws. Also, economically Gun industry is an excellent recession proof industry. Most violence occur during economic downturn. It is exactly at this moment , when PROFITABLE opportunities are rare it provides profit. Gun sales is known to increase during downturns. This keeps up till economic revival Sovereignty shifts to Individual the tax payer.. Free gun laws are a guarantee that right to unconditional freedom of speech and expression (excluding libel and contempt of court) which is a derivative of private property rights exists. Natural rights are INALIENABLE from human , making human life possible and can never be a gift of tax eaters. It's not only for self defence Actually bringing in free gun laws means complete scrapping of arms act and not permitting dilution of it by any government in future by enshrining it in fundamental rights. Free Gun Laws makes country invasion free. It does not require much training to pull a trigger. In 2nd world war Japanese dropped plans to invade USA because of free gun laws. Isoroku Yamamoto "You cannot invade mainland United States. There would be a rifile behind every blade of grass".
This Rajan is one man who sees nothing good with current indian government. His political inclination is too strong for anyone to take him seriously. No point wasting time listening to him.
@@bongfish1369 do he bashed govt over fall of rupee no because he understands the economics where common people are bashing govt but he didn't. He could go all out but he didn't which show he doesn't see only negative of govt but he sees the wrong things are going with nation and we need good criticism for betterment of country and world listen when he speaks.
In 2025, 0ne should buy Gold rather than Stocks. If you are an aggressive investor, you can contemplate buying Bitcoin. Both these assets gave better returns in 2024 than our NIFTY.
Wonder - how this guy who is eternal pessimistic and proponent of doomsday to Indian economy and a perennial hatred towards anything about Modi’s government was a one time RBI governor- good that he has no role in India - thank god
We need to start with taking out DEI style reservation in education so that the best and brightest have the opportunity, else it is a waste. Why isn't modi talking about this?
He can not speak about merit . In India Merit menas caste , social status -- There is a court statement on this saying merit does not mean being intelligent and should include social status .. That is why we have highly inefficient DCs who are IAS passed through reservation , we have IITcians who are reservation catagory etc,, CAste is the bigest merit in India
The numbers 2b out on Mahakumbh Tourism,Jobs better half n disillusioned IITians 4a dip-classik discussion n thanks 4Rokada Sawal on dollar-Rupee love lost*
He's part of the problem being part of the bureaucracy. Why doesn't he mind his own business. Ask him did he make India a developed country when he got the opportunity?
@@msdadsfsx He was also in finance. He could do his bit in finance which is all that matters. All things are secondary to finance. This is a country of 1.5 billion not just of one PM.
This guy always seems to have a “sour grapes” attitude. Maybe he changed lately given India’s leadership and trajectory, best to always be suspicious about his intentions. Just doesn’t sit right.
I believe indians have sufficient talent to manage their own affairs. We dont need advices from anglisized people like Raghuram Rajan, Amartya Sen etc. who have inherent disdain about India. Raghram Rajan is crying too long for not being extended his RBI governership....🙄
Once again Andhbhakt thing, when you lose argument , you ridicule others. Same old tactics. Be a classy troll 😁😁 not so cheap Andhbhakt. By the way , thanks for the compliment. I have been exceptional at great things unlike you 😁😁
@@pzende You could not conter my argument that's why you called me Andhabhakt. So you deserve answer which matches your talent... Yes, I am Andhabhakt... But you keep losing, that's a deal.
@ ha haa bro , I don’t interact with people who can’t take criticism. Basically you are an idiot who is blindly supporting Jumlendra. Winning argument is the only aim you have in your life, then Enjoy your life. 😁😁😁
Huge respect for Prof. Raghuram Rajan, his insights are most relevant for all of us and Industry/Government should take note.
@@jaisuryabanerjee US citizenship and Governor of RBI...family values !!!
@@Bhawna-y1l our External Affairs Minister has his entire family based in the US
He's such a beautiful person. Without criticizing anyone, how beautifully he delivered, it was amazing.
It is always a pleasure to listen Raghuram and learn.
Sadly we Indians can't see the Truth by Raghuram Rajan sir. The more blind people are the slower India will be growing.
People can see, unfortunately there is no credible opposition to the current government, so People have no choice.
And government has no incentive to listen to government.
Thanks
@@sureshbajaj6031 bhai mujhe bhi de do please 1000 rupees 🤣
BJP always waiting and ever ready and crosses all standards of decency to amplify isolated events. BJP, will add masala to even silly matters and blow it out of proportion. Bjp always talks about IRRELEVANT SILLY MATTERS, neglecting CORE ISSUES LIKE UNEMPLOYMENT, INFLATION & TOPICS OF NATIONAL IMPORTANCE . They NEVER talk about thier achievements of past10 years and the plan for the future. Bjp always talks about VERY OLD (decades ago) ISSUES, topics ( POSTMORTEM) about Pandit Nehru ect.
Andhbhakt should first tell about 60 years of Congress regime. 😮
@@Dadasahab1234 dear friend , India has made tremendous achievements during first six decades . The list is very long . I was born in the year of our independence . I very well remember the first elections . Princely purses abolished , Banks nationalisation , creation of several PSUs , From retreating before China to holding 95 thousand soldiers hostage and separating Bangladesh even when USA was supporting Pakistan and threatening us . All the world class educational institutions were created . Great hydro electrical projects , health sector , food sufficiency , white revolution .
@@kuntumreznolddas492😂😂😂😂😂😂😂😂
@@kuntumreznolddas492 India's peers left India in the dust before Liberalisation.
In fact India's share of global GDP decreased from 1950 -1991 !
How can you defend that ?
If the world is full of so many smart and talented people, super educated folks , Gods and prophets, why are we so messed up???
Because smarter people are more greedy?
Very insightful mam! Thank you
Very well analysed and articulated. Always a great favourite of genuine economics students..salute Raghuram Rajan sir.
Politics is most lucrative business too make huge monies by using dirty la Guage against the opposition. Don't ever think that political leaders are interested in the welfare of the people of the country. People are useful source of tax monies fir politician to enrich the self.
We should not make a big issue of the statements about 90 hours work a week. The statement makers know that only the top hierarchy of an organisation has the motivation and associated allures to devote so much time.
When he said India should focus on creating better skilled plumbers, carpenters etc for low end jobs, my first thought was wouldn't those jobs be taken over by Robots? But then, I was struck with reality that this scenario is a utopian future. No one can be absolutely sure that it will happen. At least for the next 25 years, we can be fairly confident that though we will make efficiency gains here, these low end jobs will survive and keep their relevancy. Rajan has a point that India should make these jobs sexy and desirable. Currently, people have low perception towards these jobs and people working in them.
Thanks for the interview 💯
The civil society is crying hoarse over election commission stifling transparency in India's elections while the opposition pretends to sleep.
The whole thing looks like a fixed match where both the sarkar and opposition are in the godi of few shady sethjis.
Good interview 👍🏽
To me working 70 or 99 hours is rubbish statement. If you do a deep dive 8 hours per day on paper, but people waste 4 hours on Shop floor doing nothing. There are companies where the output is X numbers for two persons, they share the work between them and each works 4 hours and complete the production target.
the 70 - 90 hours job rhetoric was more of an ideological (especially Sunday) than anything to do with economy or productivity
TRUE democracy is democracy without the politicians.
Insightful
Preeti a coworker when I was in KARVY once said that she had a crush on Raghuram Rajan when he was RBI Governor.
Why must a politician appease the middle class, which votes based on its Astha rather than economic conditions?
With so much experience and knowledge, Prof. Raghuram Rajan, is so balanced in his views, and so respectful in expressing the same. Whenever is interviewed, the listeners get enlightened on current financial and economic issues. It is such pleasure to listen to him.
I just got a 6 % increment and a disappointing bonus.. so all my planned expenses and investments are on hold. So no real addition to the C in GDP from me..! Let’s continue to rely on the G in GDP for growth.. sigh..! 😮💨
You know what creates jobs - MANUFACTURING!
and who will provide market for those goods ? just thinking on supply end wont help.
Yes 20 years back -- Not any longer -- Manufacturing uses high end Robotics now a days makes all routines jobs automated -- I worked in a respuetd paint company in its older plant where we were around 600 people .. The company being progressive , they expanded their business and went for one more BIG plant in North India with 4 times bigger capacity than the factory I worked -- The number of people hired for that massive 3 times bigger plant was less than 100 due to massive automation -- Paint filling is major human intensive operation - Now we get high precision filling machine which does this job very accurately with speed .. Companeis will go for automation .. In Auto company they hired ladies in assembly line for avoiding trade union activities .. Hene creation ofjob through manufaturing > i seriously doubt
Yes but not unless the subsidy that the companies get are spent on more and more automation. Just what Rajan sir pointed out. Capital intensive manufacturing won’t help much. What we need is to leverage our cheap and abundant labor and therefore more labor intensive manufacturing. What an interview..! Nice 😊
@ For example Garment industry is labour intensive -- But there also automation is coming up -- Civil construction where large number of labour comes is also automated -- We can not stop improving efficieny just for the sake of jobs -- How many us do not buy Washing machine and ask labor to do washing job and pay labour charges ?. all mot nil .. Hence job creation comes later -- first we need to create activities which require people participation -- That is waht happened in 1994 when IT sector boom started -- More over in manufatureing 6 labour laws apply and all are same old socilaistic era laws which focusses on distribution of wealth -- Profit was bad word before 1991 . Long way to go -- VIKASIT BHART may not happen even 100 years from now
@@spg6651 fair argument..! 👌… I would add to that the increasing need to up skill our population too. As Rajan sir pointed out, Government’s intention (or advertising) about upskilling is good but transparency around data will help to know how much of that is achieved. I teach free Data Analytics over weekends and most of my students are from colleges that teach Python and Sql on paper. IMO, India still need to bring out massive numbers of people out of poverty first and that I suppose need to happen by labor intensive industries. Once the per capita GDP has improved, people will be spending more on education and upskilling (and spend less time on protecting dharmas) which will make population ready and perfect for roles that doesn’t require labor, like more people in Science like chip designing or GenAI. Love such constructive conversations. Thanks for chipping in. 😊
High inflation keeps rich, richest...The govt is supported and controlled by Rich individuals across the world today. DOLLAR dependency among global market is major problem, they are actually exporting americas inflation to all other countries, including india. They don't teach money in schools, Nirmala is a puppet in Rich pockets. Rupee value increases when dollar demand increases across the globe. China, japan, uk , many countries need to dump their dollar reserves immediately to resist the inflation
Insightful conversation ❤❤
Great discussion! Lot of insightful points from Rajan and engaging discussion because the follow up questions were genuine and did not feel like prepared.
These are testing times and it is important to build and maintain the trust in our institutions-electoral, financial and legal. 2024 nobel on fiance work was exactly on this topic. Also, we need to stop giving air and mind time to useless comments from 'leaders' who clearly may not be experts on everything.
What an insight from Mr RR, there are labour skills such as plumber, electrician, carpenter that needs to be up skilled. Manufacturing is not the only area to focus.
Eway Bills in GST, no country in the world goods transported with such complexity.
"Bureaucracy likes to complicate" spot on.
Dirty politics, religious politics & uneducated political devils can never take the nation towards progress, prosperity and happy India ....
Just came for Raghu Ram Rajan otherwise Bharkha Dutt has gone godi too
@@jaspreetmail very true
Ranjan bats for Congress party. like true bhakt, 😮
@@Dadasahab1234He doesn’t bat for Congress and he know what is happening to the economy. He calls spade a spade.
@@kiranmalhi1061 He's not a Bhakt, He's just a Pessimistic Person. Sir ke Projections kaafi baar Galat prove hue hai.
Will this deaf Modi really listen to Raghunath & other qualified economists ??? The stubborn/ arrogant FM is she understanding ??? 😢
Rajan had destroyed Indian economy, ,bhakts want re induction of Rajan, which is not possible.
Very analytical.
Best answer. About work life balance
“Everyone finds their balance..” this is perfectly said..! I work a data analyst and trust me sometimes I work very long hours and sometimes I don’t give a damn. It just works for me. So no 1 working hour for everyone. It just doesn’t work to improve productivity.
The introduction tries to completely distort the content of this brilliant, insightful interview :).
Enlightened
Very good analysis sir 👍
Most welcome..thanks for watching.
Great conversation with Mr Raghuram Rajan. Loss to India and Indian Economy. Mr Rajan is having vast knowledge about the economy and having knowledge of how to manage / solve it .
Beautiful explanation of GDP growth, falling of Rupees to $, GST, employment, media, crony industrialists, neo ethno nationalism.
You have asked good questions.
Good analysis 🎉
WhatsApp University के कुलपति ने बताया है कि सेक्युलरिज्म ही रुपए की गिरती कीमत के लिए जिम्मेदार है। अगर ये शब्द संविधान से हट जाए तो अर्थव्यवस्था अभूतपूर्व ऊंचाइयां छू लेगी।🤡🤡
Excellent analysis
Indian economy has been strangled by extortionist eaids, high taxes and inflation. The windfall gains of trading in Russian crude are over so of course the economy now looks weaker which it has been for years. Demographic dividend has been turned into demographic liability dresulting in getting back to hindu rate of growth.
Rajan contradicts himself when he says manufacturing doesn't create jobs but we need more plumbers, carpenters, and electricians. High-end services jobs are also impacted by automation. IT has slowed down.
Only thing growing in india is gst rate. Charging 18 % on health insurance premium where governance fail to provide social secury after charging 30 % income tax on salary.day light Looting
she is askign him about a meme 😒
Brilliant Sir
True but really hard hitting comments by Mr Raghu...shopfloor, noise, sweat...and good books..nothing this L&T ceo has experiene😂😂😂
Respects to RRR; His views are always analytical and has meat in it 🙂
Raghuram Rajan he provides credible reliable information only.
Accha??
Always Rajan greatest Analizer Tnx both
I think the headline is misleading if not looked at properly 😅
"Better skilled workers and disciplined workers" - where are they? how to incentivise upskilling when so many freebies are given away by both sides. They are competing now.
It was shocking to hear Barkha to mention Dr. Rajan's passport and citizenship. It was distasteful.
The US will do what it needs to do to make their economy great. Our country unfortunately do not have 2nd layer leadership who think like patriots. So we are stuck , the only way out now is an economic negotiation with the US to survive.
all Indian rich people investing abroad..all smart Indians become CEO's for American Companies.revesrse this trend ...
We are the people working in environments of our choice and viewing this episode.
Always curious to know his views. However, the wait’s been too long. Not because his views are not sensible. Of course, they are. Yet no clear pathways are indicated on a macroeconomic level.
Simply put, sustained economic growth requires increases in monetary supply to follow, not precede, it. It’s a science, as Nobel Economist Milton Friedman puts it. So where is that money going to come from to sustain India’s growth?
So far, GoI used monetary supply increases ahead of growth through infra spending to bring about growth. What we surely got from this is high inflation. So R Rajan is right in that GoI cannot go on spending at the cost of running high deficits for growth.
R Rajan is also right that no longer can India depend on the West as an export market like Japan, Korea and China did in the 20th century. Western markets are saturated.
Engaging with the Global South isn’t going to provide the high growth rate necessary for India either.
So where is the money to tap into for sustaining India’s necessary growth?
Perhaps, there is one last resort. Look inside India. Can GoI and state Governments reduce taxes substantially? Rather than keeping a large section of the population dependent on freebies/welfare, can they REDUCE the burden of welfare GRADUALLY from ~18% of GDP (where welfare is now) BY 3% EVERY TWO YEARS to 3% of GDP in 10 years? By allowing the people who earn the FREEDOM to keep a little more of what they earn, not only will consumer demand get a boost, but also investments in new small businesses.
One might wonder why Govt’s spending the very tax money won’t boost consumer demand or investments in new businesses. Well it didn’t, right? Evidence too shows no one spends money better and more efficiently than the one who earns it. That person alone knows its value.
Anyway, the increased consumer demand and new businesses from reducing taxes will create lots of new jobs. Will incentivize people to earn a living too. And this will have a multiplicative effect year after year, giving rise to growth.
It’s time Govt stopped thinking of itself as the provider. More importantly, time people also stopped thinking of Govt in a paternalistic manner. Hasn’t worked for 78 years since 1947, has it? It’s only gotten worse and worse, hasn’t it?
The only known age old proven way of a flourishing civilization is the one which lets its people the FREEDom to CHOOSE how they want to live their lives. If we still don’t, then where are we going to find the money for our growth?!
The Finance minister has new plans so India will look for better growth. It is a game India will play the cards close to the chest. Let us wait and watch.
You should have advertised that this is a Burka dutt's channel.
Currency fundamentally is a mediam for exchange of goods. But itself has become a commodity. Did purchasing power of rupee decline relative to that of USD?
Bring down the dollar value to 5 ₹.
Bureaucracy of India politics of India all of these things raising the value of dollar.
i can easily reduce the dollar value to ₹ 5.
Actual value of dollar is only 5 rupees but due to due to bad management and incompetent officials of India the value of dollar is increasing day by day.
Just putting too much burden on the citizens of India on the people of India because of the bad management and bad governance that's why India will never progress.
"Not everybody in a high position has enlightened views bout the world"
At least vivek Ramaswamy is honest , when one of the best orators struggles to pput forward their thoughts , it smells like slavery .
Rupee will touch savarkar's age to be in par with dollar
Modi had and still has the chance to propel India..! But the damn old man will continue to do what is completely unnecessary..! Bas maje kar raha hai bhai..! What a life he is having. Wish I had the same life in my office. 0 accountability and bas jhoota jhoota unmeasurable objectives set karte raho.. 😂
The long term solution which needs immediate action is population growth rate. A low skill,unemployed and illiterate population dividend will become a liability soon that an asset and not keeping a check on that growth unless there is significant investment in primary education, vocational training focused on manufacturing and infrastructure development and huge private and govt investment coming into these sectors right now ( it’s already too late) will lead us to a dangerous situation of a huge demographic dividend with a unfathomable economic divide. If we don’t act now, a large part of India 2 will slide into India3 and a small part ( single digit %) of india2 will move to India 1 and that’s an India we will not want for our kids and grand kids. We want a large part of India 2 to move to India 1 and the whole of India3 to move to india2.
Jan 22,000 FII out flow as on 24 Jan is 60,000 crore plus
Jobless growth, why we not escalating.
😂😂 to whom?
Better have truck drivers by educated , skilled and trained youths , when we have huge mass of unemployed.
Democracy is a known monster from the days of Socrates
Freedom or Liberty is entirely different from democracy. Freedom can only be defended by free gun laws (1931 Karachi Congress resolution promised it)
End mad EVIL Indian democracy which demands human sacrifice of the best among people the merited , and of arbitrary by SC ST act. Proof that it is mad, is, 39% is greater than 93%
Prime Minister Modi reiterated India's deep-rooted commitment to democracy, stating, "India has an ancient and unbroken culture of democracy. It has been the lifeblood of Indian civilization."
He is being immoral here. Why? Hans Herman Hoppe "In a democracy anyone can covet anybody else’s property and act according to his desire -the only precondition being that he can gain access to the corridors of power”. It allows legalized robbery.
Fact is wherever it was tried it was a failure, assuming Modi's claim as true. Else we would have elections and parliament before Europeans did.
Kashmir was a wonderful place before democracy with hindu King and muslim population. Idea of Democracy is fatally flawed. Right to vote in company voting is EARNED in the form of number of shares held whereas in Political voting right to vote is distributed FREELY.
Hans Herman Hoppe “Every new generation of politicians and parties appears to be worse, and piles even more atrocities and perversions on top of the already existing mountain, so that one feels almost nostalgic about the past”
An improved version of East India Company, Consortium of competing Insurance companies can govern much better than any politician. Unlike politicians , Insurance companies can get rich ONLY if people become rich. If anyone wants to vote he has purchase shares of competing insurance companies. No chance of bribing voters.
Joseph A. Schumpeter "Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can't bother about where they're going." -
Democracy in huge multi-lingual nation is dangerous. Majority who don't love but worship HUGE India naturally wants to convert freely obtained into notes and goodies like reservation QUOTAS. Democracy name itself is a big lie. It's precise name is Majoriticracy.
One-man-one-vote combined with “free entry” into government-democracy - implies that every person and his personal property comes within reach of-and is up for grabs by everyone else: a “tragedy of the commons” is created. Hans Hermann Hoppe. (Tragedy of commons briefly is neglect because something belongs to everyone leading to collective irresponsibility). Democracy is just a soft form of communism.
Insurance companies can govern much better. Their business is earning trust. They have to face people on daily basis. Insurance companies prosperity increases ONLY with increasing prosperity of people. Insurance companies don't depend on media as Politicicans do. Insurance companies at least they will not set fire to country as Reservation policy Politicians do. Why? Insurance companies have to settle claims due to damages. They are much more stable than trading companies like East India Companies (EIC). Note used the word govern above..People will be rulers with them being heavily armed.Even War they were extraordinary. Look at what happened in Singapore in WW2. British tax eaters, government, lost it in days. With EIC in control, half the Japanese would be on side of EIC!
Investors risk their entire Capital and find China run by communist party as good investment destination as leadership does not change every five years and they can invest in long gestation projects without fearing policy reversals as in democracy. Insurance companies last generation after generation.
Democracy in infancy showed what a monster it was when it ended the life of Socrates who laid foundation of sciences by insisting on definitions. Later after enjoying Guillotining democratic France became Bankrupt and plunged Europe into European war. In democracy media secretly takes pride in spreading lies than truth as media function is make believe. Queen of France Marie Antoinette was Guillotined on 16th October 1793 , by democrats , had reportedly said "let them eat cake" when she was informed "that farmers did not have bread". This same charge was used against other monarchs as well. This quote "let them eat cake" is found in a book published EARLIER when she was a child, when she was not queen of France. It was a democratic lie (majority should agree with the lie!). That is the source of propaganda and total loss of sanity..
John Adams second president of USA "Democracy has never been and never can be so durable as aristocracy or monarchy; but while it lasts, it is bloody than either. … Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There never was a democracy yet that did not commit sui..(end it's own life). It is in vain to say that democracy is less vain, less proud, less selfish, less ambitious, or less avaricious than aristocracy or monarchy. It is not true, in fact, and nowhere appears in history. Those passions are the same in all men, under all forms of simple government, and when unchecked, produce the same effects of fraud, violence, and cruelty. When clear prospects are opened before vanity, pride, avarice, or ambition, for their easy gratification, it is hard for the most considerate philosophers and the most conscientious moralists to resist the temptation. Individuals have conquered themselves. Nations and large bodies of men, never."
Hitler was not Ghengis Khan or Taimur Lang or Attila the Hun. Hitler was hugely popular leader in German democracy with a well thought out Weimar constitution, with EFFECTIVE MAJORITY and with the support of other major political parties.
Only democratic India had Kashmir files and there were no Saudi files, UAE files or Malaysia files where muslims are a majority. Even Kashmir before democracy was in a decent place before democracy.
================
Real tax eating empire started in 1947. It will not bring in promised free gun laws for self defence. Indians lost its freedom in 1947. Sensing support from people tax eaters in first budget imposed a tax slab of 97.5% including surcharges. 100% taxation is slavery
Karachi Congress resolution of 1931 promised free gun laws:
KR.2
vii. Right to keep and bear arms in accordance with regulations made in that behalf and such reservations as may be required- for public safety.
Karachi Congress had all leaders, Gandhiji, Nehru, Subhas Chandra Bose and also Ambedkar.
Free Gun Laws Promotes ahimsa as it makes violence expensive , due to threat of self defence. Threat is stronger than its execution. Gandhiji talked of truth and non-violence together. Violence is related to supression of truth. Therefore what's required is Unconditional freedom of speech.
Gandhiji said Arms act was the blackest law passed by British. Why does it still exist?
Bearing arms is not same as using them. Ahimsa is ahimsa of armed independent people.
Many might object "What about School Shooting in USA"?
Answer is why is there no school shooting in Switzerland, which too has free gun laws?
USA is a huge empire that too a democratic one and empires are violent places because psychology of people becomes disturbed.
Comparing comparable societies the number of homicides per capita in USA is ten times lower than in Latin American countries which has no free gun laws.
Also, economically Gun industry is an excellent recession proof industry. Most violence occur during
economic downturn. It is exactly at this moment , when PROFITABLE opportunities are rare it provides profit. Gun sales is known to increase during downturns. This keeps up till economic revival
Sovereignty shifts to Individual the tax payer..
Free gun laws are a guarantee that right to unconditional freedom of speech and expression (excluding libel and contempt of court) which is a derivative of private property rights exists. Natural rights are INALIENABLE from human , making human life possible and can never be a gift of tax eaters.
It's not only for self defence Actually bringing in free gun laws means complete scrapping of arms act and not permitting dilution of it by any government in future by enshrining it in fundamental rights.
Free Gun Laws makes country invasion free. It does not require much training to pull a trigger.
In 2nd world war Japanese dropped plans to invade USA because of free gun laws.
Isoroku Yamamoto "You cannot invade mainland United States. There would be a rifile behind every blade of grass".
Only economists should be made PMs and higher education a must for all top leaders. The country would benefit so much!
Motivate people for economic growth and not religious BS. Eg; Singapore.
This Rajan is one man who sees nothing good with current indian government. His political inclination is too strong for anyone to take him seriously. No point wasting time listening to him.
@@bongfish1369 do he bashed govt over fall of rupee no because he understands the economics where common people are bashing govt but he didn't. He could go all out but he didn't which show he doesn't see only negative of govt but he sees the wrong things are going with nation and we need good criticism for betterment of country and world listen when he speaks.
Your statement shows a strong judgement on Mr Rajan. That's why you are not able to see his point.
Two clowns Trump and Musk will soon start a new Circus...and some people will surely have a free entertainment
Change name from MOJO to TTG
In 2025, 0ne should buy Gold rather than Stocks. If you are an aggressive investor, you can contemplate buying Bitcoin. Both these assets gave better returns in 2024 than our NIFTY.
Insignificant man
Yes, an intelligent man becomes insignificant when ignorant people doesn't understand what he is saying.
Very dissapointing speach. Nothing very interesting
Wonder - how this guy who is eternal pessimistic and proponent of doomsday to Indian economy and a perennial hatred towards anything about Modi’s government was a one time RBI governor- good that he has no role in India - thank god
@@rsrikrsna hey rupee 2 troll bastard! फेकू का ऐसेही चाटते रहो
May be instead of blaming EVM Congress should declare its funding sources and foreign strategists 😂
Two.unemployed
@@harivenkateshv6151 first give one podcast like this and see if your own family listen to you or not.
We don't waste time , it's for people like you , do some reading on these people first and what they achieved
Raghuram the sulking economist. He wants to be in the news. Barkha Dutt also does anti India journalism.
We need to start with taking out DEI style reservation in education so that the best and brightest have the opportunity, else it is a waste. Why isn't modi talking about this?
He can not speak about merit . In India Merit menas caste , social status -- There is a court statement on this saying merit does not mean being intelligent and should include social status .. That is why we have highly inefficient DCs who are IAS passed through reservation , we have IITcians who are reservation catagory etc,, CAste is the bigest merit in India
who is the pretty girl in thumbnail?
The numbers 2b out on Mahakumbh Tourism,Jobs better half n disillusioned IITians 4a dip-classik discussion n thanks 4Rokada Sawal on dollar-Rupee love lost*
Barkha needs to learn, what to ask Rajan
Strange that AI had to generate bharkas picture....
He's part of the problem being part of the bureaucracy. Why doesn't he mind his own business. Ask him did he make India a developed country when he got the opportunity?
thats not pm responsibility?
@@msdadsfsx He was also in finance. He could do his bit in finance which is all that matters. All things are secondary to finance. This is a country of 1.5 billion not just of one PM.
he did more than you know
@@tusharchugh4782 Yes. In making Gandhi Parivar happy. He did more than his duty required.
@@tusharchugh4782 Btw it can be said too that Modi did a lot. It can be said just about anybody.
Raghuram tajam as usual, a famed leftist
get a life
This man has below average intelligence.
And what is that you do, that qualifies you to make that comment.Never mind, don't bother
@cyk2668 Who are you??? Never mind, don't bother
This guy always seems to have a “sour grapes” attitude. Maybe he changed lately given India’s leadership and trajectory, best to always be suspicious about his intentions.
Just doesn’t sit right.
I believe indians have sufficient talent to manage their own affairs. We dont need advices from anglisized people like Raghuram Rajan, Amartya Sen etc. who have inherent disdain about India.
Raghram Rajan is crying too long for not being extended his RBI governership....🙄
Andhbhakt spotted
@@pzende When I say that indians have talent, you are exception to that. So don't get thrilled...,😂
Once again Andhbhakt thing, when you lose argument , you ridicule others. Same old tactics. Be a classy troll 😁😁 not so cheap Andhbhakt.
By the way , thanks for the compliment. I have been exceptional at great things unlike you 😁😁
@@pzende You could not conter my argument that's why you called me Andhabhakt. So you deserve answer which matches your talent...
Yes, I am Andhabhakt... But you keep losing, that's a deal.
@ ha haa bro , I don’t interact with people who can’t take criticism. Basically you are an idiot who is blindly supporting Jumlendra. Winning argument is the only aim you have in your life, then Enjoy your life. 😁😁😁
At least vivek Ramaswamy is honest , when one of the best orators struggles to pput forward their thoughts , it smells like slavery .