According to Raghuram Rajan, no one is better than him in managing the Indian economy than he. His views are politically biased. From fragile 5 to Top 5 is a great achievement for any economy.
Mr. Rajan has screwed the Indian economy so bad that it was one of the worst five economies in 2013 in the world, now he is talkig as if he turned around. It is Modijis team which includes Subramanyam part which turned around the Indian economy.
@@masalacontroller India was third largest economy in 2011, but that’s based on purchasing power parity…. But we were still only in 9th rank when it comes for GDP…. And now we are at 5th…. The problem is every index measures some aspect and we lose the details and just take the title alone.
@@Shrik2407 well we can't ignore gdp per capita though, no where being close to vishwaguru. India needs to grow and india will grow but our politicians need to stop fooling ppl with indices
being biased does affect judgement what are you on abt wdym the bjp has delivered they nearly lost this yr. Modi's hindu totalitarian gov isint dictorship but congress ran a dictorship...
Raghuram Rajan should understand that being an Economist is different from being a political consultant. If you try to be a political consultant to a party like Congress then you are no longer an objective Economist.
He is a shame as a RBI governor. For your knowledge middle class are buying cars more. In my society 1.5 year back, there was a lot of space for parking. In just 1.5 years it’s completely full.
this is stupidity u live in a city a developing one that too, ur already in the top 10% of india's population by owning a car what abt the next 60% what about their development you are embarassing yourself by calling him a shame you give such a irrelevant example to prove he is wrong when you dont know anything about the country yourself i'm 15 and i know more adults these days where do i even begin ☕
Raghuram Rajan assumes that that the present govt was handed over a country at level 5 , but that's not correct. It inherited a country at level 1. Modi can't skip step 3'4'. Despite all of it , this Govt is creating a foundation for the future by investing in chips, digital infrastructure along with physical infrastructure like roads etc.
So true bro, I also doubt his advise about education. I don't disagree that we need to improve our education. but this idea that that we should bulid more IIT's at the expense of promoting manufacturing is very wrong. He mentioned that we are getting into chip manufacturing of legacy nodes. Many automobiles, defense equipment etc requires legacy nodes and not 2nm or 4nm chips. How are we going to build such advance chips without even starting from legacy nodes which still have so many uses. I feel like Raghuram Rajan has sold his soul to USA. which means, we should focus on educating a few our clever kids in IIT's and they work for NVIDIA or Intel in India which are American companies and they register patents designed by our engineers or or look to move to USA and look for jobs there. we should absolutely be dependent on US and other countries for technologies like this and live at their mercy while the Chinese threaten us at our borders. we should not have have no manufacturing capacity with regards to chips. This is the mindset that has kept India backward so many decades. I am so glad that this guy has been removed from RBI.
Mr. Rajan has screwed the Indian economy so bad that it was one of the worst five economies in 2013, now he is talkig as if he turned around. It is Modijis team which includes Subramanyam part which turned around the Indian economy.
@siddu7549 We have to start from somewhere. China has also started building their own CPUs and GPUs and they are nowhere near Intel/AMD/Nvidia but they have started taking baby steps and on the right path. Creating a chip from scratch or acquiring latest nodes is a mammoth task and even USA is aware of it and has poured billions of dollars in Intel for them to do atleast compete with TSMC or be better as we all know there is high chance of china pulling their hands towards Taiwan. We also need to start from somewhere and create infra so that companies like Intel/TSMC can come and invest in India as well.
@@siddu7549Well said… It is a problem with that mindset that Raghuram Rajan and the likes have gotten imbibed in to. He is oblivious to the fact that he has so deeply sold his soul to the USA. That’s what makes him think like the way he does and yet extremely convinced that it is the way to go…. I mean, security guards in cities better than promoting agriculture… I was wishing that he would rather say that we increase usage of technology and frugal engineering in agriculture, but I blame myself for expecting such things from him ☹️… Does he really think the security guards in Bangalore send their kids to schools providing superior quality education?! I only wonder, how come Raghuram Rajan gets so much respect and attention. That’s the sad state of the lack of indigenous thinking within us.
@@Shrik2407 it's the same mindset of UPA 1. during peak globalization while china was surging ahead with manufacturing, congress was busy doing corruption and and not carrying out any reforms that promote manufacturing, instead they were busy rolling out out mnrega like schemes where labour used to dig pits all day and used to be paid some 80 rupees at the end of the day. that was the economic model we were following, while china used it's labour force and built up a massive industrial base and now we are stuck catching up. People like him should not be allowed to enter into this country. i donno how these people get into such positions and talk like this.
Raghu ram rajan said he is commenting as an academic here but if that is the case then why did he join rahul gandhi's pada jatra? And he also showed great concern over manipur and i being from north east know it very well what has been the approach of central government towards north east since independence. But in the last 10 years the centre is paying more importance to north east. But it was an interesting podcast to hear two different views. Thanks 🙏
Mr Subramanyam is Awesome, explained the details fluently.. seems someone really worked hard and got good result.. Mr Raghu is a great economist but he missed an opportunity to lead country in a very difficult time.. Team which led Indian finance was new but they did wonderful.. New leaders are real good..
Raghuram Rajan made India as Fragile 5 during his tenure as RBI governor. Does he have an answer on why it happened? btw, Mr Rajan talks about freedom of speech but count the number of times he interrupted Mr.Subramanian while he is speaking.
you cant solely blame india being in the fragile 5 due to raguram rajan he's the rbi governer not the finance advisor not the finance ministry its pitiful when ur makin claims like these
Excellent video. Excellent perspectives. Keeping biases and political affiliations out, it's important for us Indians to participate and navigate our country forward in the most balanced way as possible. It's not easy, but of we can't do it when all the tailwinds are in our favor, we will probably never get this Amritkal back again. Let's hope every Indian mind works to compliment the horoscopic advantageous era that we seem to be currently blessed with. JAI HIND!
one reveals himself -inner personality-only when he speaks about himself before an enlightened audience.Raghu has fallen in my scale of esteem which was high..
I cannot believe an Ex-RBI governor does not understand the importance of semiconductor mftring, which is the leading force powering tech revolution all over the world for some time now. Manufacturing will also promote the service sector growth around it.
Dr Subramanian shows he is a straightforward academician by drawing data from internationally accepted sources. Rajan’s assertion that he is an academic rings hollow. He is not objective in his observations; it looks like he has scores to settle. Rajan’s body language was unprofessional throughout and his condescending comments directed at Dr. Subramanian showed his immaturity. It is clear that the student has surpassed the teacher!
Dr. Rajan always puts his views in a bureaucratic form - seeing a problem from all angles so that there is collective benefit.Thats why one will not see other economists mentioning about education, primary schools and nutrition issues. I consider this a great way because this is the very core where India really is lagging and the fact India has such a huge population such issues gets subsided and everything takes a political turn.
Wages of both agri, hotels, construction have gone up by 2.5 times, over the last 6 years. The daily wage rates are minimum 1200 to 1500 rupees per day
He got hurt for not reappointed as RBI governor hence making bad propaganda and giving disreputable comments/interviews against his own country in international level. He forgets that Economy does not always goes as per book.
If Vikram Sarabhai had not kick started space programs how ever humble way back in the 50s , would we be having ISRO and DRDOs today with the top notch Space programs? Unfortunately his foresight has a lot of shortcomings , and I am glad he has more American followers than Indians.
India is an unique country unlike any other country and also the challenges 1. Need to feed 150+ billion people. This itself is a huge problem to solve. Has our govt and agri universities addressed the productivity issues ? No 2. We are definitely improving on infrastructure but long way to go 3. Energy and power generation - good improvement but price has to come down 4. Digital infrastructure, startups - world class. India can leapfrog from here 5.coruuption and parallel govt run politicians and bureaucracy- unimaginable scale 6. Law and judiciary - way below the expectation But above all human capital and people desire to grow can supercede all the obstacles. Minimum government and maximum governance using technology is the way forward.
👏👏👏 Lovely debate... well done, Subu! It wasn't easy to defend actions/views when criticism flows, especially from a senior academician who was a guide and a mentor in the past. Criticism is good but should be constructive criticism where one can agree to pick up some of the shortcomings and improve the future course of actions for larger benefit of the human beings... here for all of us The Indians! In parts Raghuram Rajan did appreciate but very reluctantly... I can probably guess why & understand the reasons! He should have acknowledged the fact that 'every one manufacturing job creates 3 service level jobs' ... the point Prof Subu was trying to bring forth instead of harping on only growth in service level jobs! Secondly, India & Indians did benefit from liberalisation in terms of opening up the economy and increasing service level jobs but what we didn’t do was to substitute the imports by subsidising and encouraging manufacturing in subsequent years which was a grave mistake... the present government has done that exactly by starting the 'atma nirbhar bharat' project. The self dependency... the import substitution was an absolute necessity for India by increasing start-ups and manufacturing for the intended growth! However, I am really proud of Prof Subu, who handled the pressure very well with facts and figures in front of him. It wasn't about scoring points, but it was very much to do with putting forth rational & practical perspectives in order to uplift a huge country of 1.4b people in this era of uncertainties!!! I am proud to be an Indian of this India Growth Story!!! Cheers 🎉
I would really appreciate Dr Rajan to understand the reality and at least encourage Modi ji to continue the good things of current Government for its goal of 2047 vision.
I’m not sure what Rajarajan is trying to say in his international interview. He mentioned that people are moving into the service sector, particularly security jobs, to support their children’s education. He also compared this to the manufacturing sector. In my opinion, small-scale manufacturing businesses producing standardized products could create more job opportunities if circumstances allow. However, it’s unclear if the same can be said for the growth of security jobs so called urban cities, even with referrals.
Great listening to Subdramanian who was part of the team who steered the country through the financial crisis through the covid and thereafter. Noted RRR was finding the talk a little painful because he did not have much to contribute technically. The difference between the two persons is RRR is a pessimist while Subramanian is positive and not the Modi basher.
RR ,how come you are an economist......because of you i started voting for BJP.Earlier i was voting for Cong...you guys are destroying cong and we are going to see cong.mukth bharath in on 4th Jun..kudos to you
See whatever Modi is doing to democracy as Raghu claims, it goes back to the argument of a strong state vs weak state , i.e centripetal and centrifugal forces of power. In 2013 when Congress was in power , and Raghu was RBI governor, they had lent a lot of crony lendings which all formed NPA's later on leading to banking crisis. So Mr Modi said he will offer a strong state , instead of a weak coalition state where the power isn't centralised leading to corruption and inefficiencies. The people bought that idea. Therefore it's the people who felt the need for a strong state and now you can't blame Modi. What people ask for, they get it
So true bro, I also doubt his advise about education. I don't disagree that we need to improve our education. but this idea that that we should bulid more IIT's at the expense of promoting manufacturing is very wrong. He mentioned that we are getting into chip manufacturing of legacy nodes. Many automobiles, defense equipment etc requires legacy nodes and not 2nm or 4nm chips. How are we going to build such advance chips without even starting from legacy nodes which still have so many uses. I feel like Raghuram Rajan has sold his soul to USA. which means, we should focus on educating a few our clever kids in IIT's and they work for NVIDIA or Intel in India which are American companies and they register patents designed by our engineers or or look to move to USA and look for jobs there. we should absolutely be dependent on US and other countries for technologies like this and live at their mercy while the Chinese threaten us at our borders. we should not have have no manufacturing capacity with regards to chips. This is the mindset that has kept India backward so many decades. I am so glad that this guy has been removed from RBI.
Fantastic discussion with lead economists. While we have done well in view of difficult global conditions, as rightly pointed out by Dr Raghuram Rajan, we need to take care of fundamental needs of our country which are in the field of education and enabling infrastructure.
Excellent data points by Prof. Subramanian. With learned Nationalist like him guiding the governments, India will definitely transition to being a developed economy in coming times.
De Rajan. Please come out of congress ideology if you have any serious attachment to India. That will be the great contributions even God would bless you for that. Be as perspective as Dr Arvaind Subramanian.
@Mr. Raghu & @Mr. Subramaniam, both of you spoke about unemployment. As a person, in market I feel, the current younger generation is of unemployable by the way of their character and enthusiasm. They unemployable at all. If you need proof, please check withany major companies HR and department heads like, design, production, planning, quality control, metallurgy, etc. The need of the hour is change the education system. Otherwise, indian young minds will become useless soon...
He got hurt by subramanian Swamy.and he has to now compulsorily criticize modi...but may be he now has a friend in Swamy because Swamy is also doing that only these days😅
No he is not. Rajan did a great service to India when he forced banks to reveal the bad loans on their books when he was RBI governor. Until then banks were hiding those loans and resorting to evergreening of loans (giving out more loans to large defaulters to pay back old loans). After what Rajan did, the whole process of cleaning up the balance sheets of banks started. Also Rajan's views of unreliable economic growth numbers, India's unemployment problem, poor education quality are correct.
@@mswarncal1 if he really did the revealing of BAD LOANS....why did he and his party give more and more bad loans to the daylight dacoit....mallayyaa. really why???😳😳😳
@@gayathrinaidu9735 firstly he doesn't belong to any party. He is an academician not a politician. Secondly, the bad loans problem happened because of the reckless lending by banks during 2006-08. Rajan had no role in this.
@@mswarncal1 🤣🤣🤣 you just contradicted your own moot point....thanks. And by the way...that guy WAS an academician...not anymore. Now he is just a Raul Vinci kothadimai
@@gayathrinaidu9735 no I didn't contradict my point. I think you should do a basic course in economics to understand Rajan's arguments. Till then, stay away from any economic discussion or debate.
Funny that raguram rajan questions other panelists as appointee of present day Indian government…without mentioning he was kicked out by the same government for trying to halt progress by hiking interest rates to seriously high level which would not allow any growth
Raghuram Rajan during Congress govt made us known as fragile five economy. Inflation was super high while growth was slow in India. I can only imagine what he teaches his students 😂😂😂
One very interesting thing about Raghu is the length of his hands: like an ājānubāhu Couldn't understand why the camera was focusing on Raghu when Krish Subramanian was speaking; weird Really liked the funda of Krish of working from first principles, just like Elon Musk, born the same year (1971)
Both sides make valid arguments. We should learn from both sides and apply both. Rather than applying one or the other. India should rise. Not left or right. Whole India should rise.
The sheere arrogance with which Dr. Rajan approached this entire conversation and sort of disassociating himself is testimony to what he is made of. He can keep propagating his theories and we’d be more than happy to prove him wrong
As RBI Governor, he had recommended to introduce a note of Rs 10000/- due to high inflation. He was promised either a PM’s or a Cabinet rank minister by Congress. Mr Subramaniam is very positive and dynamic economist. He has torn apart RR. 🎉
Kudos to Subu for coming well prepared with his cherry picked data. Rajan pointed and questioned a few times regarding how he is portraying his data but i guess he stopped after a while as he did not want to turn this into a public squabble. Rajan better thought there is no point in sinking to his level. Subu is not even trying to hide how biased he is. Again excellent exam preparation by Subu with all his small handwritten notes in all his pockets
The two gentlemen are intellectuals in their own right but they are conservative south indians who will not cross the lakshman rekha as they respect the position of the person to whom they are or were reporting. They need to protect their family over their over ambition on professional career to antogonise any politician past or present. It is the bitter truth and factual
It is nice to hear an economist give an outlook on supply to demand, but the crux remains the ordinary citizen on the road would not understand terms like inflation or fiscal deficit or governance. Only the message across is price hike or fall with availability of infrastructure good or bad and availability of gas cylinders LNG either in the black market or white money.
I really liked the part where Ragu Corrected Subbu at the end closing his mike that "Miles to go before I sleep" was said by Robert Frost and not Swami Vivekananda.By the way Swami Vivekananda said "ARISE AWAKE & STOP NOT TILL YOUR GOAL IS REACHED" (Raghu still being a mentor to Subbu is good to see ❤️❤️💯💯) Loved the discussion Subbu actually gave it quite good point on the democracy part . Raghu was seemingly quite nervous and kept on interrupting when Subbu was making a point. Ragu didn't allowed subbu to finish atleast.
Raghu Ram Rajan is a example of how a spineless a person could be in a position of RBI governor who was blind to all that nonsense going around. This country doesn't need Phd/,IIT MBA in economics to run the country but common sense in a person
Has Raghuram lost his mind when he is talking about fastest growing service sector job is of security guards. It was good that Narendra Modi got rid of him at the first available opportunity.
Hi Raghuram, I appreciate your focus on strengthening India’s educational sector, particularly through initiatives for top institutions like IIAM instead of subsidizing Intel chips. It’s understandable that progress takes time, especially given the previous Congress government’s shortcomings. Despite this, medical universities in India are expanding with the implementation of NEET. It’s unfortunate that you faced backlash, particularly due to comments on the Chidna shoe industry’s investment in Tamil Nadu. It would have been better if you had moved past the trolling comments.
Never heard of MSME getting loans during Covid. Even today MSME have not recovered, and being the largest contributor to employment resulted in the unemployment figures today
Did Karan thapar or Ravish criticised the previous Govts like they do th current Govt? Are they neutral? Did Govt remove them? Mr.Rajdeep is the best critic of this govt. Is he not expressing views in the Channels? Is he unemployed? Ridiculous points by Shri Raguram Rajan! What will he say about the corruption in various state govts? I completely disagree the political comments he made and he picks the points of blame only of this govt.
Though do not stand by entirely with Dr Rajan, nutrition, education, basic law and order certainly should be pegged at the top of policy making. These are the building blocks of any nation. The growth rate of 10% should be a non-compromised goal to lift the country out of poverty. His comments on manufacturing though in different context, proliferation of manufacturing facilities should be seen from the sustainability standpoint and cost benefit including environment cost. His comments on self reliance measures of the government like PLI, chip manufacturing initiative does not find resonance. Dr. Subramaniam is the aspiring face of new India. Unless we are optimistic about India, we cannot grow on a diffident note.
RRR talks out of air. Subramanyam talks with facts. RRR carries in his head he is great. During RRR inflation was much higher and India was termed a fragile 5 in Feb 2014. Now in 10 years India has become top 5, which includes covid period in which India far better than RRR prediction that India was doomed. RRR was appointed person by PC on his post, not independent he claimed himself to be. Worst RBI Governor India ever had.
Raghuram Rajan may be total communist , may be working against India s interest, may working American state interest. May be CIA, when he was RBI governor his action a destroyed small median scale industry. My company of 60 cr rupee has closed down because very high interest regime pushed . That period almost 2 lakh companies closed all small. He helped many big business get away without timely action. He allowed some gold importers wind fall gain just before election. His actions and intentions are suspect. I ma not economist . Me 30 years business career says he has ulterior motives
So true bro, I also doubt his advise about education. I don't disagree that we need to improve our education. but this idea that that we should bulid more IIT's at the expense of promoting manufacturing is very wrong. He mentioned that we are getting into chip manufacturing of legacy nodes. Many automobiles, defense equipment etc requires legacy nodes and not 2nm or 4nm chips. How are we going to build such advance chips without even starting from legacy nodes which still have so many uses. I feel like Raghuram Rajan has sold his soul to USA. which means, we should focus on educating a few our clever kids in IIT's and they work for NVIDIA or Intel in India which are American companies and they register patents designed by our engineers or or look to move to USA and look for jobs there. we should absolutely be dependent on US and other countries for technologies like this and live at their mercy while the Chinese threaten us at our borders. we should not have have no manufacturing capacity with regards to chips. This is the mindset that has kept India backward so many decades. I am so glad that this guy has been removed from RBI.
It’s like this , the person in the center is saying there is problem there, we can’t do that, we should do this, we should do that etc. we don’t have good schools ( he forgets he did his schooling here only ) then he says we have iits which are very good, we can’t become developed country ohh man all negatives ,,,
Last 12min was great. Kudos Krishnamurthy
According to Raghuram Rajan, no one is better than him in managing the Indian economy than he.
His views are politically biased.
From fragile 5 to Top 5 is a great achievement for any economy.
❤❤❤👏🌹💞💐
Mr. Rajan has screwed the Indian economy so bad that it was one of the worst five economies in 2013 in the world, now he is talkig as if he turned around. It is Modijis team which includes Subramanyam part which turned around the Indian economy.
2011, india was 3rd largest economy, get ur facts right, don't be a bhakt, raghuram worked under modi govt too
@@masalacontroller India was third largest economy in 2011, but that’s based on purchasing power parity…. But we were still only in 9th rank when it comes for GDP…. And now we are at 5th…. The problem is every index measures some aspect and we lose the details and just take the title alone.
@@Shrik2407 well we can't ignore gdp per capita though, no where being close to vishwaguru. India needs to grow and india will grow but our politicians need to stop fooling ppl with indices
Raghuram Rajan is blown away by Subramanian.
Haha
KV Subramanium is Rahguram Rajan's student
@@aymanhaque6936 Einstein teacher is a stupid
RRR is a spokesman of the Congress
just like how subu is a spokesman of the congress
Raghuram gives convenient independent interviews but when it comes to debate like this he is totally floored
is he floored just because he's not biased towards the bjp like you are??
@@willypro344 Certainly, you must also consider Mr. Dimon, the CEO of JP Morgan as biased towards BJP :-)
@@rahulhello How is Rajan floored? He gave concise explanations.
@@willypro344being biased doesn’t affect judgement . I like bjp more because they have delivered. While under congress we had dictatorship.
being biased does affect judgement what are you on abt wdym the bjp has delivered they nearly lost this yr. Modi's hindu totalitarian gov isint dictorship but congress ran a dictorship...
Raghuram Rajan should understand that being an Economist is different from being a political consultant. If you try to be a political consultant to a party like Congress then you are no longer an objective Economist.
He is a shame as a RBI governor. For your knowledge middle class are buying cars more. In my society 1.5 year back, there was a lot of space for parking. In just 1.5 years it’s completely full.
this is stupidity u live in a city a developing one that too, ur already in the top 10% of india's population by owning a car what abt the next 60% what about their development you are embarassing yourself by calling him a shame you give such a irrelevant example to prove he is wrong when you dont know anything about the country yourself i'm 15 and i know more adults these days where do i even begin ☕
😂 stupid just consider his thought
And why is that a shame ?
@@aaseelanp3851 he meant only he should hv a car so that he would hv alot of space for parking & no one should buy 😂😂
Rajan says democracy is under threat where Manmohan Singh dismissed 11 governments while Zero under NDA. Leaving it to the audience
NDA usurped governments without dismissing them.
Raghuram Rajan is that old guy who is afraid of touching the laptop to see the actual data
Kudos to arvind subramaniam!! All substance and hard facts.
Thats how economists should be.
He is Prof. K Subramaniam, who replaced Arvind!
*K subramanian
Raghuram Rajan assumes that that the present govt was handed over a country at level 5 , but that's not correct. It inherited a country at level 1. Modi can't skip step 3'4'. Despite all of it , this Govt is creating a foundation for the future by investing in chips, digital infrastructure along with physical infrastructure like roads etc.
So true bro, I also doubt his advise about education. I don't disagree that we need to improve our education. but this idea that that we should bulid more IIT's at the expense of promoting manufacturing is very wrong. He mentioned that we are getting into chip manufacturing of legacy nodes. Many automobiles, defense equipment etc requires legacy nodes and not 2nm or 4nm chips. How are we going to build such advance chips without even starting from legacy nodes which still have so many uses. I feel like Raghuram Rajan has sold his soul to USA. which means, we should focus on educating a few our clever kids in IIT's and they work for NVIDIA or Intel in India which are American companies and they register patents designed by our engineers or or look to move to USA and look for jobs there. we should absolutely be dependent on US and other countries for technologies like this and live at their mercy while the Chinese threaten us at our borders. we should not have have no manufacturing capacity with regards to chips. This is the mindset that has kept India backward so many decades. I am so glad that this guy has been removed from RBI.
Mr. Rajan has screwed the Indian economy so bad that it was one of the worst five economies in 2013, now he is talkig as if he turned around. It is Modijis team which includes Subramanyam part which turned around the Indian economy.
@siddu7549 We have to start from somewhere. China has also started building their own CPUs and GPUs and they are nowhere near Intel/AMD/Nvidia but they have started taking baby steps and on the right path. Creating a chip from scratch or acquiring latest nodes is a mammoth task and even USA is aware of it and has poured billions of dollars in Intel for them to do atleast compete with TSMC or be better as we all know there is high chance of china pulling their hands towards Taiwan. We also need to start from somewhere and create infra so that companies like Intel/TSMC can come and invest in India as well.
@@siddu7549Well said… It is a problem with that mindset that Raghuram Rajan and the likes have gotten imbibed in to. He is oblivious to the fact that he has so deeply sold his soul to the USA. That’s what makes him think like the way he does and yet extremely convinced that it is the way to go…. I mean, security guards in cities better than promoting agriculture… I was wishing that he would rather say that we increase usage of technology and frugal engineering in agriculture, but I blame myself for expecting such things from him ☹️… Does he really think the security guards in Bangalore send their kids to schools providing superior quality education?! I only wonder, how come Raghuram Rajan gets so much respect and attention. That’s the sad state of the lack of indigenous thinking within us.
@@Shrik2407 it's the same mindset of UPA 1. during peak globalization while china was surging ahead with manufacturing, congress was busy doing corruption and and not carrying out any reforms that promote manufacturing, instead they were busy rolling out out mnrega like schemes where labour used to dig pits all day and used to be paid some 80 rupees at the end of the day. that was the economic model we were following, while china used it's labour force and built up a massive industrial base and now we are stuck catching up. People like him should not be allowed to enter into this country. i donno how these people get into such positions and talk like this.
Such a fantastic debate . It was nice to see 2 knowledgeable economists share insights .
Excellent Stuff prof Subramanian
Raghu ram rajan said he is commenting as an academic here but if that is the case then why did he join rahul gandhi's pada jatra? And he also showed great concern over manipur and i being from north east know it very well what has been the approach of central government towards north east since independence. But in the last 10 years the centre is paying more importance to north east. But it was an interesting podcast to hear two different views. Thanks 🙏
Mr Subramanyam is Awesome, explained the details fluently.. seems someone really worked hard and got good result.. Mr Raghu is a great economist but he missed an opportunity to lead country in a very difficult time.. Team which led Indian finance was new but they did wonderful.. New leaders are real good..
Raghuram rajan is not the opposition but he rubs his shoulders and root for the opposition and corrupt every other day
Raghuram Rajan made India as Fragile 5 during his tenure as RBI governor. Does he have an answer on why it happened?
btw, Mr Rajan talks about freedom of speech but count the number of times he interrupted Mr.Subramanian while he is speaking.
😂😂 freedom of speech = freedom to disrupt
you cant solely blame india being in the fragile 5 due to raguram rajan he's the rbi governer not the finance advisor not the finance ministry its pitiful when ur makin claims like these
@@willypro344u think financial adviser is higher than rbi governor??
@@willypro344get your education
Excellent video. Excellent perspectives. Keeping biases and political affiliations out, it's important for us Indians to participate and navigate our country forward in the most balanced way as possible. It's not easy, but of we can't do it when all the tailwinds are in our favor, we will probably never get this Amritkal back again. Let's hope every Indian mind works to compliment the horoscopic advantageous era that we seem to be currently blessed with. JAI HIND!
one reveals himself -inner personality-only when he speaks about himself before an enlightened audience.Raghu has fallen in my scale of esteem which was high..
I cannot believe an Ex-RBI governor does not understand the importance of semiconductor mftring, which is the leading force powering tech revolution all over the world for some time now. Manufacturing will also promote the service sector growth around it.
Dr Subramanian shows he is a straightforward academician by drawing data from internationally accepted sources. Rajan’s assertion that he is an academic rings hollow. He is not objective in his observations; it looks like he has scores to settle. Rajan’s body language was unprofessional throughout and his condescending comments directed at Dr. Subramanian showed his immaturity. It is clear that the student has surpassed the teacher!
Subramanian has been excellent. MMS dismissed 12 regional governments and not a single word on decline in DEMOCRACY!
Dr. Rajan always puts his views in a bureaucratic form - seeing a problem from all angles so that there is collective benefit.Thats why one will not see other economists mentioning about education, primary schools and nutrition issues. I consider this a great way because this is the very core where India really is lagging and the fact India has such a huge population such issues gets subsided and everything takes a political turn.
Rajan should be economical with his political advise rather than being political with his economic advise!
Wages of both agri, hotels, construction have gone up by 2.5 times, over the last 6 years. The daily wage rates are minimum 1200 to 1500 rupees per day
Rajan should come in front and join the Congress party. He will sound more credible than now
He got hurt for not reappointed as RBI governor hence making bad propaganda and giving disreputable comments/interviews against his own country in international level. He forgets that Economy does not always goes as per book.
This guy is a congress puppet
Why is that Raul Vinci s kothadimai so frustrated and his fingers, palm never left his forehead most of the time 😂😂😂
It's what is called superiority complex body language😅
Evanoom 200....upi....daan....😂
@@DDENZY 👌👌🤣
😂😂😂😂😂
Clean bowled clean exposed clean shamed body language
If Vikram Sarabhai had not kick started space programs how ever humble way back in the 50s , would we be having ISRO and DRDOs today with the top notch Space programs? Unfortunately his foresight has a lot of shortcomings , and I am glad he has more American followers than Indians.
Great discussion with facts!! Hope this help people judge on facts and not on perceptions!!
Why do Rajan sitting like 'Injithinnakurangu'
Cos that's what he is😊
He is shame character. He is sitting uncomfortable when Subramanyam presented many facts.
India is an unique country unlike any other country and also the challenges
1. Need to feed 150+ billion people. This itself is a huge problem to solve. Has our govt and agri universities addressed the productivity issues ? No
2. We are definitely improving on infrastructure but long way to go
3. Energy and power generation - good improvement but price has to come down
4. Digital infrastructure, startups - world class. India can leapfrog from here
5.coruuption and parallel govt run politicians and bureaucracy- unimaginable scale
6. Law and judiciary - way below the expectation
But above all human capital and people desire to grow can supercede all the obstacles.
Minimum government and maximum governance using technology is the way forward.
Educated in British Raj's affiliated universities woke American mindset!
God knows why they made him RBI Governer, worked for USA in Background!
That was Congress to fulfill their selfish ends. They are known for it. Put a figure head and party manages the rest.
👏👏👏
Lovely debate... well done, Subu! It wasn't easy to defend actions/views when criticism flows, especially from a senior academician who was a guide and a mentor in the past. Criticism is good but should be constructive criticism where one can agree to pick up some of the shortcomings and improve the future course of actions for larger benefit of the human beings... here for all of us The Indians!
In parts Raghuram Rajan did appreciate but very reluctantly... I can probably guess why & understand the reasons!
He should have acknowledged the fact that 'every one manufacturing job creates 3 service level jobs' ... the point Prof Subu was trying to bring forth instead of harping on only growth in service level jobs! Secondly, India & Indians did benefit from liberalisation in terms of opening up the economy and increasing service level jobs but what we didn’t do was to substitute the imports by subsidising and encouraging manufacturing in subsequent years which was a grave mistake... the present government has done that exactly by starting the 'atma nirbhar bharat' project. The self dependency... the import substitution was an absolute necessity for India by increasing start-ups and manufacturing for the intended growth!
However, I am really proud of Prof Subu, who handled the pressure very well with facts and figures in front of him.
It wasn't about scoring points, but it was very much to do with putting forth rational & practical perspectives in order to uplift a huge country of 1.4b people in this era of uncertainties!!!
I am proud to be an Indian of this India Growth Story!!!
Cheers 🎉
I would really appreciate Dr Rajan to understand the reality and at least encourage Modi ji to continue the good things of current Government for its goal of 2047 vision.
I’m not sure what Rajarajan is trying to say in his international interview. He mentioned that people are moving into the service sector, particularly security jobs, to support their children’s education. He also compared this to the manufacturing sector. In my opinion, small-scale manufacturing businesses producing standardized products could create more job opportunities if circumstances allow. However, it’s unclear if the same can be said for the growth of security jobs so called urban cities, even with referrals.
Great listening to Subdramanian who was part of the team who steered the country through the financial crisis through the covid and thereafter.
Noted RRR was finding the talk a little painful because he did not have much to contribute technically.
The difference between the two persons is RRR is a pessimist while Subramanian is positive and not the Modi basher.
Krishnamurthy Subramanian nailed it , brilliant job sir.
RR ,how come you are an economist......because of you i started voting for BJP.Earlier i was voting for Cong...you guys are destroying cong and we are going to see cong.mukth bharath in on 4th Jun..kudos to you
Congress mukt bharat didn't happen tho
The Politician in Raghu has dominated rather than Economist inside him.. 😅😂
Raghuram Rajan... .. Feel ashamed that I had once admired this guy..
Looks like RRR had terrible head ache listening to his mentee. His hand is always on his forehead.
Exactly! He could not bear the other person being knowledgeable and hence had a headache 😂
See whatever Modi is doing to democracy as Raghu claims, it goes back to the argument of a strong state vs weak state , i.e centripetal and centrifugal forces of power.
In 2013 when Congress was in power , and Raghu was RBI governor, they had lent a lot of crony lendings which all formed NPA's later on leading to banking crisis.
So Mr Modi said he will offer a strong state , instead of a weak coalition state where the power isn't centralised leading to corruption and inefficiencies.
The people bought that idea. Therefore it's the people who felt the need for a strong state and now you can't blame Modi.
What people ask for, they get it
So true bro, I also doubt his advise about education. I don't disagree that we need to improve our education. but this idea that that we should bulid more IIT's at the expense of promoting manufacturing is very wrong. He mentioned that we are getting into chip manufacturing of legacy nodes. Many automobiles, defense equipment etc requires legacy nodes and not 2nm or 4nm chips. How are we going to build such advance chips without even starting from legacy nodes which still have so many uses. I feel like Raghuram Rajan has sold his soul to USA. which means, we should focus on educating a few our clever kids in IIT's and they work for NVIDIA or Intel in India which are American companies and they register patents designed by our engineers or or look to move to USA and look for jobs there. we should absolutely be dependent on US and other countries for technologies like this and live at their mercy while the Chinese threaten us at our borders. we should not have have no manufacturing capacity with regards to chips. This is the mindset that has kept India backward so many decades. I am so glad that this guy has been removed from RBI.
Before RBI governor, he was the Chief Economic Advisor. Crony lending started at that time.
Fantastic discussion with lead economists. While we have done well in view of difficult global conditions, as rightly pointed out by Dr Raghuram Rajan, we need to take care of fundamental needs of our country which are in the field of education and enabling infrastructure.
Excellent data points by Prof. Subramanian. With learned Nationalist like him guiding the governments, India will definitely transition to being a developed economy in coming times.
Frustrated man Raghuram Rajan
Why camera is not on subramanian?
RRR is the worst governor in Indias history .. Thankfully Modiji got rid of him
We are the poorest country?? What is Raghuram Rajan saying?
Within g20. On per capita basis.
Yes Rajan is very poor. That's why he has been paid for demeaning India.
De Rajan. Please come out of congress ideology if you have any serious attachment to India. That will be the great contributions even God would bless you for that. Be as perspective as Dr Arvaind Subramanian.
*KV Subramanian
@@rajx7120 thanks for the correction
the object of these debates is how to make necessary changes for growth
@Mr. Raghu & @Mr. Subramaniam, both of you spoke about unemployment. As a person, in market I feel, the current younger generation is of unemployable by the way of their character and enthusiasm. They unemployable at all. If you need proof, please check withany major companies HR and department heads like, design, production, planning, quality control, metallurgy, etc. The need of the hour is change the education system. Otherwise, indian young minds will become useless soon...
What is the point of investing in universities if you don't have industries? Ship the engineers abroad ?
Very insightful points by Mr. Rajan!
Subramanian sir rocked. R rajan shocked.
debates like this is a welcome change...we need to pay attn to the education centre and definately the health of the youth ic crucial
He got hurt by subramanian Swamy.and he has to now compulsorily criticize modi...but may be he now has a friend in Swamy because Swamy is also doing that only these days😅
Raghuram Rajan is the worst RBI Governor tht we ever had! Kudos to Subramanian for exposing the propaganda!
No he is not. Rajan did a great service to India when he forced banks to reveal the bad loans on their books when he was RBI governor. Until then banks were hiding those loans and resorting to evergreening of loans (giving out more loans to large defaulters to pay back old loans). After what Rajan did, the whole process of cleaning up the balance sheets of banks started. Also Rajan's views of unreliable economic growth numbers, India's unemployment problem, poor education quality are correct.
@@mswarncal1 if he really did the revealing of BAD LOANS....why did he and his party give more and more bad loans to the daylight dacoit....mallayyaa. really why???😳😳😳
@@gayathrinaidu9735 firstly he doesn't belong to any party. He is an academician not a politician. Secondly, the bad loans problem happened because of the reckless lending by banks during 2006-08. Rajan had no role in this.
@@mswarncal1 🤣🤣🤣 you just contradicted your own moot point....thanks.
And by the way...that guy WAS an academician...not anymore. Now he is just a Raul Vinci kothadimai
@@gayathrinaidu9735 no I didn't contradict my point. I think you should do a basic course in economics to understand Rajan's arguments. Till then, stay away from any economic discussion or debate.
We all should be allowed to question each and everyone fullstop.
Funny that raguram rajan questions other panelists as appointee of present day Indian government…without mentioning he was kicked out by the same government for trying to halt progress by hiking interest rates to seriously high level which would not allow any growth
Raghuram Rajan during Congress govt made us known as fragile five economy. Inflation was super high while growth was slow in India. I can only imagine what he teaches his students 😂😂😂
One very interesting thing about Raghu is the length of his hands: like an ājānubāhu
Couldn't understand why the camera was focusing on Raghu when Krish Subramanian was speaking; weird
Really liked the funda of Krish of working from first principles, just like Elon Musk, born the same year (1971)
Great discussion..
Mr. Rajan speaking as political leaders leaning to some political parties in India..
The question is who can solve the problems of India? Rahul Gandhi or Modi. That answers the democracy question Rajan
Both sides make valid arguments. We should learn from both sides and apply both. Rather than applying one or the other. India should rise. Not left or right. Whole India should rise.
The sheere arrogance with which Dr. Rajan approached this entire conversation and sort of disassociating himself is testimony to what he is made of.
He can keep propagating his theories and we’d be more than happy to prove him wrong
Raghuram Rajan gave massive inflation of 12%. Like Manmohan Singh, he also was a Flop Economist
Wah... Bakwas bole toh aisa
Please check your facts - inflation came down from 9.5% at the start of his tenure to 5.3% by the end
He is the one who brought down the inflation.
@@siuoppl Andhbhakt can't take facts. They are only loyal to their masters.
Actually real inflation master was Manmohan singh
When he says, he got the scholarship, so no doubt, he has to bark for.
Scholarship is given for meritorious students.
As RBI Governor, he had recommended to introduce a note of Rs 10000/- due to high inflation. He was promised either a PM’s or a Cabinet rank minister by Congress.
Mr Subramaniam is very positive and dynamic economist. He has torn apart RR. 🎉
Kudos to Subu for coming well prepared with his cherry picked data. Rajan pointed and questioned a few times regarding how he is portraying his data but i guess he stopped after a while as he did not want to turn this into a public squabble. Rajan better thought there is no point in sinking to his level. Subu is not even trying to hide how biased he is.
Again excellent exam preparation by Subu with all his small handwritten notes in all his pockets
What was RRR contribution to the development and progress having been very close with INC first family then and even now.
57:53
The two gentlemen are intellectuals in their own right but they are conservative south indians who will not cross the lakshman rekha as they respect the position of the person to whom they are or were reporting. They need to protect their family over their over ambition on professional career to antogonise any politician past or present. It is the bitter truth and factual
Raghu was forced to look at the roof top😅
It is nice to hear an economist give an outlook on supply to demand, but the crux remains the ordinary citizen on the road would not understand terms like inflation or fiscal deficit or governance. Only the message across is price hike or fall with availability of infrastructure good or bad and availability of gas cylinders LNG either in the black market or white money.
the "robert frost" at the end. hilarious.
I really liked the part where Ragu Corrected Subbu at the end closing his mike that "Miles to go before I sleep" was said by Robert Frost and not Swami Vivekananda.By the way Swami Vivekananda said "ARISE AWAKE & STOP NOT TILL YOUR GOAL IS REACHED" (Raghu still being a mentor to Subbu is good to see ❤️❤️💯💯)
Loved the discussion
Subbu actually gave it quite good point on the democracy part .
Raghu was seemingly quite nervous and kept on interrupting when Subbu was making a point. Ragu didn't allowed subbu to finish atleast.
Raghu Ram Rajan is a example of how a spineless a person could be in a position of RBI governor who was blind to all that nonsense going around. This country doesn't need Phd/,IIT MBA in economics to run the country but common sense in a person
Sir,u r all questions comes from after 2011 to 2024 not before why?. Is it from strong academic mind?
Subramaniyam is on fire with facts❤❤❤❤❤
It's okay to have contrarian view points. The debate was lively and useful.
Has Raghuram lost his mind when he is talking about fastest growing service sector job is of security guards. It was good that Narendra Modi got rid of him at the first available opportunity.
Hi Raghuram,
I appreciate your focus on strengthening India’s educational sector, particularly through initiatives for top institutions like IIAM instead of subsidizing Intel chips. It’s understandable that progress takes time, especially given the previous Congress government’s shortcomings. Despite this, medical universities in India are expanding with the implementation of NEET. It’s unfortunate that you faced backlash, particularly due to comments on the Chidna shoe industry’s investment in Tamil Nadu. It would have been better if you had moved past the trolling comments.
What is the division ➗️ year between entry at the IIT betwixt the 2 and the spin angle on the outfield in the given sum
Never heard of MSME getting loans during Covid. Even today MSME have not recovered, and being the largest contributor to employment resulted in the unemployment figures today
52:24 Yes you stop right there for that the mindset of Congress in India should remove dynasty politics and allow experts to lead the country
Insightful talk by Raghuram Rajan,so inspiring 🙏
🤣🤣🤣
😳😳😳😳😳
Did Karan thapar or Ravish criticised the previous Govts like they do th current Govt? Are they neutral? Did Govt remove them? Mr.Rajdeep is the best critic of this govt. Is he not expressing views in the Channels? Is he unemployed? Ridiculous points by Shri Raguram Rajan! What will he say about the corruption in various state govts? I completely disagree the political comments he made and he picks the points of blame only of this govt.
It's fun to hear both and add arvind subramanian it would be more fun😅😅
Hey Media!, when Subramaniyan starts speaking, why don’t you point your camera at his face? What kind of diplomacy is this?
Raguram Rajan has shown his affiliation to a political party. His arrogance was there to see. He got it back from Subramanyam. Well done Subramanyam
When k.s was introducing the camera man was sleeping.....he never bothered to show the person talking
Glad at least you commented about this🙏
True. The camera man thought this only RRR show.
Though do not stand by entirely with Dr Rajan, nutrition, education, basic law and order certainly should be pegged at the top of policy making. These are the building blocks of any nation. The growth rate of 10% should be a non-compromised goal to lift the country out of poverty. His comments on manufacturing though in different context, proliferation of manufacturing facilities should be seen from the sustainability standpoint and cost benefit including environment cost. His comments on self reliance measures of the government like PLI, chip manufacturing initiative does not find resonance. Dr. Subramaniam is the aspiring face of new India. Unless we are optimistic about India, we cannot grow on a diffident note.
1:11:24 Whats this Robert frost remark? A jibe at Krishna for taking an untravelled road?
RRR talks out of air. Subramanyam talks with facts. RRR carries in his head he is great. During RRR inflation was much higher and India was termed a fragile 5 in Feb 2014. Now in 10 years India has become top 5, which includes covid period in which India far better than RRR prediction that India was doomed. RRR was appointed person by PC on his post, not independent he claimed himself to be. Worst RBI Governor India ever had.
K.V. Subramanium.. great counters .. Made his points without getting aggressive unlike the other side 🔥🔥🔥
Anyone considering body language of Dr Rajan?
We already have them do you work for china
Raghuram Rajan may be total communist , may be working against India s interest, may working American state interest. May be CIA, when he was RBI governor his action a destroyed small median scale industry. My company of 60 cr rupee has closed down because very high interest regime pushed . That period almost 2 lakh companies closed all small. He helped many big business get away without timely action. He allowed some gold importers wind fall gain just before election. His actions and intentions are suspect. I ma not economist . Me 30 years business career says he has ulterior motives
So true bro, I also doubt his advise about education. I don't disagree that we need to improve our education. but this idea that that we should bulid more IIT's at the expense of promoting manufacturing is very wrong. He mentioned that we are getting into chip manufacturing of legacy nodes. Many automobiles, defense equipment etc requires legacy nodes and not 2nm or 4nm chips. How are we going to build such advance chips without even starting from legacy nodes which still have so many uses. I feel like Raghuram Rajan has sold his soul to USA. which means, we should focus on educating a few our clever kids in IIT's and they work for NVIDIA or Intel in India which are American companies and they register patents designed by our engineers or or look to move to USA and look for jobs there. we should absolutely be dependent on US and other countries for technologies like this and live at their mercy while the Chinese threaten us at our borders. we should not have have no manufacturing capacity with regards to chips. This is the mindset that has kept India backward so many decades. I am so glad that this guy has been removed from RBI.
It’s like this , the person in the center is saying there is problem there, we can’t do that, we should do this, we should do that etc. we don’t have good schools ( he forgets he did his schooling here only ) then he says we have iits which are very good, we can’t become developed country ohh man all negatives ,,,