The only valid suggestion from this gentleman is the urgent need to revamp the education system to suit the need of the 21st century and health. Get rid of income tax.
Seems you have not properly listened to what all he is saying based only on his 50 years of research, teaching, and practical experience . I personally feel that this dialogue is full of fresh ideas and wisdom. Anchor did a remarkable job by putting up the right questions and letting the gentleman speak more.
What economist Arun Kumar suggested is that the government needs to focus on the education, health and infrastructure of 50% of the vote bank of political parties that resides in villages and spend more on education , health specially on the unorganised economy that resides in villages. As a political party you just can't ignore the 80 cr population that is in unorganised. India will only become developed country if these 80 cr people are provided the best of best education, health, infrastructure . RIP to all those superstar investors who sell the India dream on news platforms. Frankly speaking you never cared enough for the country.
Even that is a hackneyed idea with zero details. We have invested more in education every year since independence but the result is always elite overproduction ie. Every generation has more unemployed Masters & PhD, unemployable engineers and 35yo never worked Exam enthusiasts.
@@kingshukdutta2064because they will have more money & global influence? This trope is 70 years old now. This hypothesis isn't giving us any real world solutions and there is evidence to the contrary that education is a good business for every political outfit in India.
my brother did engineering but couldn't find job so he started preparing for government jobs, but due to paper leak, less vacancy, he could not find job there. So now he is unemployed since many years, and the father is farmer , he sold land for his engineering and now have loans to pay. Thats the reality of Indian middle class
he seems to be an arm chair Professor....on one side, he wants technology in agriculture also.. which will only reduce employment...his talk on GST is totally ill informed... before GST also, there were so many taxes with deep corruption at all levels right up to octroi or panchayat taxes... far away from realities
Your comment indicates you are ill-informed, You are confusing with GST / corruption and things which are not in his speech. He addresses large 'Unorganised sector' . All the street vendors, small producing and selling people are in crores in India. Unless their livelihood is improved, India cannot prosper.
We have huge underemployment problem because all employed youth want to get married and start their family after getting the job. But starting a family is not possible due to low salary and very high cost of living as well as higher rate of inflation.
God save this guy's students. For the unorganised sector - no taxes, cash transactions and hidden wealth were their main outputs since 1947. Who stopped them from getting organised?they were happily living in a society without contributing income taxes and compliance burdens like the organized sector. Now with GST and digitization, they are crying foul.
Atleast they were able to keep their family employed......that's what is most important. That's the first thing u want and paying income tax is secondary. The first thing you need is that people are employed at least. God save your students😂
Bro 😂😂 please atleast comment logically every business is un organized at some point to get organised to other point not all business people in any country have power to become organized you can see china america or any country so dont impose gst on in organized sector instead do something to make them organised
In India,People in unorganized them doesn't want to be organized,not wanted to pay taxes,income tax & do business mostly in cash & they make huge amount of money
Today organised sectors doing fake insolvency bank loan hair cuts not giving enough employment not investing in productive one investing in speculation businesses i
Is this professor for real? He completely ignores the fact that India made starting a new business almost impossible between 1956 and 1991. The policies he is recommending were tried for many decades with disastrous results. If education and health was so important, India should have outpaced Pakistan for decades. For the longest time Pakistan’s per capita income was higher than that of India. In fact, Europe spends more on education (e.g. free college) yet they lag US technologically and economically. That’s because, Europe has the same socialist and anti-business policies he is advocating. China has surpassed India because it allowed foreign companies set up businesses and allowing them to exploit their labor. He is right on unemployment being a problem. However, his solutions are totally ineffective. This sounds like unending list of everything that’s wrong.
Basically education and health are not that important for you 😂. Human capital is the utmost determinant in development of any country. Free market kar do, bahar ke companies la do but who is gonna work for them? Education is not important but quality education is.
Dear sir - ( neon show owner), I started to listen to the content you generate for the fact that it will give me clarity to progress. So far I listened to 2 contents from your channel. After listening to this particular conversation till 55 min, this comment created more confusion rather than clarity. The primary responsibility of any media to encourage progress with solution oriented content . I felt this content is all about critisism for every question you asked for solution. I learnt from this conversation that 94% of India industry is unorganised and they run as black economy so our economy size is 26 tri on one hand. But on the other hand conversation points our that unorganised economy is shrinking and the organised industry is growing. Second contradiction is that the data collection in India govt has large error, but most of the stats referred on unorganised sector is based on govt data. Kindly provide content that are solution oriented and progressive rather than opinion and agenda driven just because more books are published. I feel we have large responsibility to solve are problem in India now and today to give better future to our children
The guest economist does not believe in govt data. But quotes the percentage of ingrained stats from the govt data. That is the contradiction. If one doesn’t believe in something, that person needs to give an alternative based on his/her own research to challenge. Not use the same selectively.
The guest is a good logical and analytically focused Ecomist. The current top to bottom and capital intensive approach to growth is directly coming from the West and the US. The suggested bottom-up approach is coming from PR of China and CCP where CCP and Chinese decision-makers have not increased the billionaires pollution of China but brought about 850 Million Chinese out of poverty. From this discussion, I concluded that having a large number of the billionaire population in a country is a curse for the majority of population and a direct indicator of the growth of poverty.
You should look up how many Chinese billionaires there are. You should see stats on personal consumption in China. I suspect you will develop a strong preference for the Western model at that point.
Lol😂😂😂 Chinese have followed Western model at more deeper level. In west too there r two type of models one which was followed by Germany japan and now China which industrialised them and other was by Brits and Americans which financialised their economy . There is nothing called bottom up model in china. In china targets plans all forced from top. At bottom one has to implement and bring results one way or other. But biggest Concept which both west and china followed was Printing huge amount of money . Providing massive credit . China has 300 to 400% us has 250%. India has 70% of GDP. Bith west and china has hidden their data and thiz Ponzi scheme for most of the time. These ecnomist like Arun Kumar were ruling the nation for last 70 years why they cudnt achieved anything and only r shouting today
Imagine if GoI passed an order banning every single language and made it that all education will be done in two languages, Hindi and lesser degree Hinglish. Students will get an education to become factory workers by default and only the top 5% will get academic education. In 12-18 years you will have a generation that can talk to anyone across India in a factory or trade setting but you killed your language and culture. Don't fret I described China of the 1980s, the languages are Putonguah and Pinyin. Indians think this is bottom up.😂
Bro here you are are little bit wrong as chinese is autocracy they at the time of 1980 in starting used the top to bottom approach like west but after 1995 they used the bottom to top approach china used both approches because they are authoritarian and they know when and how to change
Economist saying black money is destroying economy on one side and saying unorganised sector needs boost isnt unorganised sector contribute to major cirruption by not paying tax
At that level , no government involved is better as it creates less problems even if these people save something on tax they will spend it for consumption (boost to GDP), eg- an unorganised sector setup with ₹10-15Lpa revenue with 30% margin will earn ₹3-5 lakh/year or ₹30 to 40k per month so they are not liable for income tax but no paper work or govt involvement gives them freedom of work and flexibility. This makes them urban lower middle class. This is an over simplification but I hope this example shows unorganised sector doesn't mean corruption but is very much a part of our regular/ bigger economy or national GDP.
He want people to produce soaps and FMCG products at home and compete with FMCG giants with all technological efficiencies, knowledge and skills and safety certificates.
*He is a scam, I know him very well. People like him know how to use articulated English & they know that Indians will be impressed with the english regardless of the content*
Sir why do MBA. We in Delhi can't find carpenter, Plumber, Electrician who is competent enough to do a decent work. I paid 800 to plumber for 1.5 hour work . What is the level of B Com, M Com etc in our country, we all know .
This is the type of teachers we have....It is because of these people , the nation is going backwards....Not one word of recommendation that will develop the nation....
He want people to produce soaps and FMCG products at home and compete with FMCG giants with all technological efficiencies, knowledge and skills and safety certificates.
@@intellectualendeavors7194well he has to create the environment for the next rung of dung beetles. The feminist sociologist who blames lack of female friendly tools in these home factories leading to patriarchal injuries. The environmentalist who will unironically put up a photo shot in Central Park or Dubai Zoo to educate us on India's pollution.
one of the prime reasons for low level of tax payers base is because agriculture income is non taxable and crores are hiding their income as agriculture income..you can take Punjab for case study
Well, he is not addressing tax payers base. He is addressing the concerns of unorganised sector. On your point of taxing agri income - special reference to Punjab. Average income of Punjab farmer is Rs.26701= 3.2 Lakhs per annum is far below taxable income. It is possible very small percentage of farmers are rich above taxable slab, but they are very small. Inspite of Punjab being highest per family income in agriculture, lowest in Jharkhand/ Odisha with mere Rs.5000/- per month, 60,000/- per year - you want to tax them?? we were 60% agri dependent families in 1950s, stands are 40% agri income dependent families. In developed countries only 15% of population does farming which is sufficient to feed the entire country. Spend time reading Swaminathan Committee report to understand how agriculcure works in India and what transformation needed.
@@தமிழ்ராஜன்you are missing the fact that agri income tax exemption helps people who have agri connections but make ton of money from other sources evade taxes. Remember the controvery Amitabh Bacchan registering himself as farmer.
Is the agriculture income taxable in China? Is it not correct that agriculture sector is the most subsidised sector in USA and Europe? With agriculture income why you want to destroy the back bone of the economy in the aftermath of land reforms?
This is such an idiotic take on black money. India should lower the tax and regulatory burden on businesses to unlock growth like the US. You want to solve black money - lower taxes by 90% and be more like Dubai or Texas.
Exactly, he is the kind of economist who is actually enabling deep state corruption by muddling the conversation with such shallow armchair policy proposal
You answer is idiotic lowering taxes doesn't make you like america aur dubai but you have to balanced out everything give incentives on labour to industry use the tax collected by business to give them incentive as well there labour extra subsidy to work hard
We dont need more school and colleges we already enough,just ask the fees of normal school minimum 8000 fees they demanded ,we need factories in our area for jobs not college and school
Sure , it is necessary to strengthen the net of social protection for the poor . But any plan for an economic revival will be incomplete without accompanying efforts to revive the purchasing power of India's large middle class.
@s.k.p.9158 Modi doesn't rule W Bengal, Tamil Nadu or Karnataka, if Modi is responsible for your unemployment then this is the high time you should move to some non Modi state & unlock your talent.
UNORGANIZED SECTOR OR UNACCOUNTED SECTOR ????????? BECAUSE OF G.S.T UNACCOUNTED BUSINESS SECTOR IS AFFECTED. THERE IS NOTHING WRONG WITH UNORGANIZED SECTOR. JUST BY STRENGTHENING MICROFINANCE YOU CAN HELP UNORGANIZED SECTOR.
Not just that. These fraudiyas picked up papers which showed the impact of MSMEs in developed economies(single suppliers of proprietary chemicals/processes) to prop up Chintu/Mintu generic plastic factories for local satrapies. When globalisation hit us and the Chinese flooded us with items priced at a third of the cost price, we saw an extinction of Chintu Mintu factories. Now they are crying for the same Chintu/Mintu factories to open back.
He is right the sector is in organised because there finance is not good now the govt impose taxes over that how will you think a man with no finance can able to work under that burden instead the best way is extra gst in organised sector low gst on un organised sector find the way to make un organised sector organised simple
I think this gentleman’s data itself needs a peer review! And coming from JNU, I would treat his info with a huge pinch of salt. His protocols and data collection methods need to be reviewed before his analysis is wholly accepted!
1) China implemented an internal visa system. People are not allowed to work anywhere they like. Will prof support such a movement by Maharashtra? 2) China forcefully moved people out to create well-planned SEZs cities. No market-fair compensations are paid. Will prof support such a government action? 3) China mercilessly forced a one-child policy. Will prof support such a government action? 4) China has horrible labor laws and pollution laws which helps in keeping cost-of-product low. Will prof support such a government action? 5) China built a huge road/railway network. This reduced the cost of goods transport drastically. Forceful land acquisition in China is not an issue. Will prof support such a government action? These guys quote China's growth without quoting specific actions China (Deng Xiaoping) implemented.
I read some of the comments and couldn’t understand them. The guest made great sense to me. Yes some parts require bit of an understanding of micro and macro economics. It’s was a great podcast.
It is wrong perception that automation reduces employment. It only changes nature of the jobs. If maruti raised the number of robots in its factory to replace the humans, that indicates the emploment has shifted from car making to robotics making.
What ever he told as threats are same as 200 years ago, people said about industrial revolution. So these disruption are part of development. There are more works in auto industry than before, so that industry can improve productivity they employ robots. Let's not blame industry also not the government we have to have a drive to improve our life, we need to work on it.
Prof must give data of what happens in first 60 years for employment , education and health. In last 10 years lift from bottom pyramid is happening by 300 mm mudra loan .
posted by C.P. CHANDRASEKHAR: ..C.P. ...this is a government which not merely manipulates its statistics, but more importantly, uses every number possible to try and create this impression with a lot of investment in propaganda. And therefore, this is something which has been bought by the media, as you say, not merely in India, but across the world...
posted by C.P. CHANDRASEKHAR: ..C.P. ...this is a government which not merely manipulates its statistics, but more importantly, uses every number possible to try and create this impression with a lot of investment in propaganda. And therefore, this is something which has been bought by the media, as you say, not merely in India, but across the world... okay, we’re not talking about a 7% rate of growth, let’s say that, okay, let’s sort of favor the state as it were, and say that, okay, let’s say, maybe it’s 5%, maybe it’s 4.5%. ' Employment is low, unemployment is rising. .economy growth..top 3, 4, 5%, maybe 3%. Yeah.. .. how China has a huge current account surplus, India has a borrowed surplus, and so on..... Is India's economy truly thriving? Or is it exaggerating its growth? Geopolitical Economy Report
Education reform needs to be done by high quality online certifying examinations for every degree - simply pouring money into buildings and professors will not bring results. Today high quality lectures on any subject can be found on TH-cam and you do not need classrooms and teachers except for schooling upto 10th standard. Today in India you can get any degree because the examination system which is the fundamental quality check of knowledge is corrupt as everything else in this country.
Corruption has increased 100 times in recent times. Why everyone talking of economic growth if at the cost of poor people. Our government has become very cruel
Prof has done a positive economic analysis of India's economic history.Institutional economics teaches that market economy can give the desired results only when institutions generate trust transparency and share required information which can help in decision making Census data should be conducted and analysis should be done at the earliest. The normative side requires more fairness on financial matters and simplify governance of the tax system like gst to upgrade the unorganised sector. Unorg sector is no doubt is a cause of corruption . Where do they borrow from from? local moneylenders. Why standards are not met in production for example, immitating brands selling spurious good and these goods are available for the unorganised sector to sell. So much of the goods and services produced and sold are in the unorganised sector. So how is the nation going to get its taxes.the nexus between unorganised sector and blackmoney sector funding their activities is huge. Several forms of illegal activities will continue to emerge . Govt must support employment generation otherwise this unorg sector will suffer and black money will continue to only grow . A condolidated talk .
Totally agree with Arun Kumar about transforming education infrastructure and decolonization. He is accurate about Indians and India (as a nation) lacking the political will to transform. Chalta hai attitude predominates..that is not karma yogi.
Crores of Rupees of black money are paid for purchasing of few acres of agricultural which hardly creates any worthwhile capital. If it were used to set up a agro based industry, it would sustain 50 families. Why it is not happening.
India perhaps needs micromanaging, state by state, sector by sector. Officials need to stop shouting at each other in Delhi, encourage lower birth rate and get clear about human value.
India made a great mistake by not resorting to any type of official birth control system in 1960-70s like China; now govt should publish proper labor market data every month and core inflation; RBI should be given Fed like dual mandate of maximum employment and minimum price stability; say 4.5% unemployment that and 3% core CPi tgt; govt should ensure free quality universal education, healthcare and drinking water for all
Sir your advice on making co-operatives of cluster like the brass cluster,etc is brilliant. However, there’s significant trust deficit amongst our population - for rightful reasons. I think the cooperative is a perfect place to apply blockchain system so as to eliminate deficit of trust.
If automation removes jobs. Imagine how many jobs were created by introducing computers. Automation and technology can only create jobs and improve productivity
Branded garnents products, luxury products, vehicles, available at lowest cost in USA which is exported from India. Branded Jeans available 12 dollars, the same brand available in india at double or triple cost. Manufacturer getting same cost. Despite low wages. higher multiple taxes and inspector rsj is the problem in india. Tax extortikn is the problem. We need minimum govt for maximum governance
It is a wonderful talk, the best economist of India. Does Government listen to somebody like him, is it able to make use a genius like him? I wish better days for India,
Not at all. This is the kind of idea that RG would listen to and in the process “socialize” poverty. No country has developed by reversing urbanisation.
Giving autonomy to professors results in professors teaching as little as possible and handing out marks as liberally as possible which results in bad education but high ratings for the professor from the students. Students should be the focus and they must be forced to study hard to pass high quality independent certifying exams which are not conducted by their professors. Professors have little to do with learning, it is the student who has everything to do with learning.
Every economic policies will have pros & cons it doesn’t mean the GST was wrong . Employment problem is the main problem that has to be addressed immediately
This was enlightening. Will definitely read the book . Please listen to this podcast if you truly care for the country🇮🇳. A true patriot constructively criticise his/her country so that the country truly develops. A must watch for all Indians
For people like him, as long as congress was at the helm there was absolutely no problem. It is these very people with communist ideology who are responsible for everything that happened till 1991. These theoretical economists have not helped any economy either in India nor in US.
Unorganised sector is more unproductive sector. Unfortunate that even professors are supporting unproductive actions. How can you generate jobs by encouraging unproductive sector? You can’t.
Principal needs are national investments in primary & secondary education with emphasis on critical thinking, and in health care nationwide from village levels. Salute to this economics professor from JNU. Government of India needs to sit up and take immediate note of his suggestions on education, health and emphasis of inculcating critical thinking in our youth.
he wants to take india back to the 70s, 80s and 90s. my mother worked in a nationalised bank, thus i am more than acquainted with the working of these banks. i am witness to the improvement in banking infrastructure and transparency with the advent of technology. same thing applies to working of the post office services. human interference makes the system inefficient as was observed in the banks, post offices, and in LIC. if one asked a secondary LIC agent for any official help, they would decline to help unless one do these agents a favour by opening a new policy with them. i think this man has never faced such hassles of mundane life. i find his words delusional, as the policies he suggests have all been tried for decades without an ounce of success.
Thank you Neon for such a good discussion on this topic without propaganda and agenda. And the Speaker is very knowledgeable and experienced in this topic. I have been listening him since he used to come on lok Sabha and rajya Sabha TV but because of recent government development, it is no longer worth watching.
if Arun Kumar is correct in reporting data that 280 million youth are unemployed, doesn’t that present as a Business Opportunity for India (net positive)? This is why they economists are dismal.
There was a big gap about 50 years back between developed countries and other countries No country really understood the opportunity except china After seeing the Chinese model mostly every country has woken up and started following the Chinese model Except India every country has progressed reasonablly if not equal to China since they started 10 to 15 years later The 15 years lead and their size of the population created a big difference and made them the second world biggest economy
I'm personally interested in how to transition the unorganised sector to organized one. What shld be the policies for this ? How to irreadicate black money completely ? It is good that demand is transitioning to unorganized to organized sector. We have to just find a way to help unorganized sector to assist this transition. Everyone knows the problem. It would be helpful if people can provide the solutions.
Some things don't add - If this Prof. and JNU's criticism was the right way then why for all the years lets take the 40 years of this prof @JNU that India was not growing. Surely, the Oligarchy in India is not good, but if Education and Healthcare was recognized by these critics - can we know what was happening in these sectors prior to 2014?
Trade is most ignored sector of economy. A 100 sq ft shop gives employment to minimum 4 persons with no concessions from the government. Compare this with concessions to industry.
There is a massive and credible institutional infrastructure which does the statistics of the country. There are numerous credible experts who accept large macro numbers and indicators .But this one expert has had not even a single word of barest agreement on anything the present govt has done nothing of any value.
This was a very repetitive, disorganized word salad from the good professor. No concrete solutions that can be executed. Just repeatedly circling around the same words… this professor has no solutions, just a repeated rant on how bad India’s education is, kept describing circular arguments. I would never want him as my professor of anything. The interviewer timidly asked the right questions… eventually. The professor kept repeating himself. Both very poor at their attempts: weak, lacking confidence, repetitious and garbage of word salad spewing forth …interviewer is very timid… he should have rudely and bluntly asked the circuitous professor kept vomiting the same negative comments. Guys, do something that will improve the system… don’t keep repeating how bad the system is. You are licking your own tail… waste of time!
Let me ask what you have done to improve your family's financial conditions. You also repeat the same words that are not repeatative.Atleast have have some opposite opinions to show we can cannot become what we think we want to become in 47
Great talk by prof. Good stats, points for thought, but honestly I strongly felt he is so focused on the period since modi govt came, what happened before that period. Neon folks, just listening entire session, nodding doesn't add any value. How are you prepared for such interviews? No questions asked, not challenging it. Feels like an event where speaker is delivering session.
There is no need to get everything into organised sector. Doing so lays open our strength areas, immediately western developed countries will dive in to compete or take over. First we need to define why should we count GDP the way it is defined by other countries. We should manage to keep our unorganised units active and thriving
Going through the comments one can easily say that the general population is still living in denial…there are great points raised in this video…fine let’s continue to live in denial…and forget about becoming even a middle income economy
GDP is maybe 4 trilion but Per capita income of 90% people is at still 10 year low... Still population of country is increasing sometimes I see my people having more than 2 babies and say it in my mind WTF are your doing...
He means to say that the figure shown is actually what our true gdp would be,if we also add the shrinkage of our unorganised sector which results in higher government spending to support the poor class (freebies)which only does the work of digging and filling holes i.e they pay for the population of poor and shows huge amount is spend which will be shown as government expenditure which is getting calculated in the gdp Feel free to correct me, this is just my assumption
One one end he says we are behind other south Asia countries as we lack technology and then he says we have unemployment issue as there is technology.why is he totally ignoring the factor of population explosion and unorganised immigration?
Neon show should be challenging him rather than just nodding in agreement about everything he says.
Neon cannot question how does it support any business which it cannot bring out solid facts rather than generics.😮
Wasted 1 hr listening to this podcast. All problems and few utterly nonsense suggestions.
India is in a huge bubble ready to pop, he is right.
The only valid suggestion from this gentleman is the urgent need to revamp the education system to suit the need of the 21st century and health. Get rid of income tax.
but why would the government do that? keep people poor and uneducated and it becomes easier to control the vote bank.
Seems you have not properly listened to what all he is saying based only on his 50 years of research, teaching, and practical experience . I personally feel that this dialogue is full of fresh ideas and wisdom. Anchor did a remarkable job by putting up the right questions and letting the gentleman speak more.
What economist Arun Kumar suggested is that the government needs to focus on the education, health and infrastructure of 50% of the vote bank of political parties that resides in villages and spend more on education , health specially on the unorganised economy that resides in villages. As a political party you just can't ignore the 80 cr population that is in unorganised. India will only become developed country if these 80 cr people are provided the best of best education, health, infrastructure .
RIP to all those superstar investors who sell the India dream on news platforms. Frankly speaking you never cared enough for the country.
Even that is a hackneyed idea with zero details. We have invested more in education every year since independence but the result is always elite overproduction ie. Every generation has more unemployed Masters & PhD, unemployable engineers and 35yo never worked Exam enthusiasts.
@@kingshukdutta2064because they will have more money & global influence? This trope is 70 years old now. This hypothesis isn't giving us any real world solutions and there is evidence to the contrary that education is a good business for every political outfit in India.
my brother did engineering but couldn't find job so he started preparing for government jobs, but due to paper leak, less vacancy, he could not find job there. So now he is unemployed since many years, and the father is farmer , he sold land for his engineering and now have loans to pay. Thats the reality of Indian middle class
"Elite overproduction"
Lets be real here. He did not do engineering. He did engineering for jobs.
he seems to be an arm chair Professor....on one side, he wants technology in agriculture also.. which will only reduce employment...his talk on GST is totally ill informed... before GST also, there were so many taxes with deep corruption at all levels right up to octroi or panchayat taxes...
far away from realities
Your comment indicates you are ill-informed, You are confusing with GST / corruption and things which are not in his speech. He addresses large 'Unorganised sector' . All the street vendors, small producing and selling people are in crores in India. Unless their livelihood is improved, India cannot prosper.
Yes gomuthra nagpur half knickers you are right
He belongs to Pseudo intellectual
@@தமிழ்ராஜன்This is the same guy who used to give dooms day scenario of India for last 5 years
@@732anoop There is a doomsday scenario for the bottom quintile of the population.
We have huge underemployment problem because all employed youth want to get married and start their family after getting the job. But starting a family is not possible due to low salary and very high cost of living as well as higher rate of inflation.
God save this guy's students. For the unorganised sector - no taxes, cash transactions and hidden wealth were their main outputs since 1947. Who stopped them from getting organised?they were happily living in a society without contributing income taxes and compliance burdens like the organized sector. Now with GST and digitization, they are crying foul.
Atleast they were able to keep their family employed......that's what is most important. That's the first thing u want and paying income tax is secondary. The first thing you need is that people are employed at least. God save your students😂
Who asked them to not get organised … this statement shows the level of knowledge you have …lol ..
Found two Chintu/Mintu factory enthusiasts in your comments. 😂
Bro 😂😂 please atleast comment logically every business is un organized at some point to get organised to other point not all business people in any country have power to become organized you can see china america or any country so dont impose gst on in organized sector instead do something to make them organised
In India,People in unorganized them doesn't want to be organized,not wanted to pay taxes,income tax & do business mostly in cash & they make huge amount of money
Unorganised sector also leads to growth of black economy
The moment you add socialist tadka to economic policies, they become unhealthy.
Yes gomuthra nagpur half knickers you are right
Today organised sectors doing fake insolvency bank loan hair cuts not giving enough employment not investing in productive one investing in speculation businesses i
Is this professor for real? He completely ignores the fact that India made starting a new business almost impossible between 1956 and 1991. The policies he is recommending were tried for many decades with disastrous results. If education and health was so important, India should have outpaced Pakistan for decades. For the longest time Pakistan’s per capita income was higher than that of India. In fact, Europe spends more on education (e.g. free college) yet they lag US technologically and economically. That’s because, Europe has the same socialist and anti-business policies he is advocating. China has surpassed India because it allowed foreign companies set up businesses and allowing them to exploit their labor. He is right on unemployment being a problem. However, his solutions are totally ineffective. This sounds like unending list of everything that’s wrong.
Basically education and health are not that important for you 😂. Human capital is the utmost determinant in development of any country. Free market kar do, bahar ke companies la do but who is gonna work for them? Education is not important but quality education is.
He is a communist. What do you expect?
Dear sir - ( neon show owner), I started to listen to the content you generate for the fact that it will give me clarity to progress. So far I listened to 2 contents from your channel. After listening to this particular conversation till 55 min, this comment created more confusion rather than clarity. The primary responsibility of any media to encourage progress with solution oriented content . I felt this content is all about critisism for every question you asked for solution. I learnt from this conversation that 94% of India industry is unorganised and they run as black economy so our economy size is 26 tri on one hand. But on the other hand conversation points our that unorganised economy is shrinking and the organised industry is growing. Second contradiction is that the data collection in India govt has large error, but most of the stats referred on unorganised sector is based on govt data. Kindly provide content that are solution oriented and progressive rather than opinion and agenda driven just because more books are published. I feel we have large responsibility to solve are problem in India now and today to give better future to our children
Unless u know the real status how will u improve? And where is the contradiction...
I agree
The guest economist does not believe in govt data. But quotes the percentage of ingrained stats from the govt data. That is the contradiction.
If one doesn’t believe in something, that person needs to give an alternative based on his/her own research to challenge. Not use the same selectively.
The guest is a good logical and analytically focused Ecomist. The current top to bottom and capital intensive approach to growth is directly coming from the West and the US. The suggested bottom-up approach is coming from PR of China and CCP where CCP and Chinese decision-makers have not increased the billionaires pollution of China but brought about 850 Million Chinese out of poverty. From this discussion, I concluded that having a large number of the billionaire population in a country is a curse for the majority of population and a direct indicator of the growth of poverty.
You should look up how many Chinese billionaires there are. You should see stats on personal consumption in China. I suspect you will develop a strong preference for the Western model at that point.
Lol😂😂😂 Chinese have followed Western model at more deeper level.
In west too there r two type of models one which was followed by Germany japan and now China which industrialised them and other was by Brits and Americans which financialised their economy .
There is nothing called bottom up model in china. In china targets plans all forced from top. At bottom one has to implement and bring results one way or other.
But biggest Concept which both west and china followed was Printing huge amount of money . Providing massive credit . China has 300 to 400% us has 250%. India has 70% of GDP.
Bith west and china has hidden their data and thiz Ponzi scheme for most of the time.
These ecnomist like Arun Kumar were ruling the nation for last 70 years why they cudnt achieved anything and only r shouting today
Imagine if GoI passed an order banning every single language and made it that all education will be done in two languages, Hindi and lesser degree Hinglish. Students will get an education to become factory workers by default and only the top 5% will get academic education.
In 12-18 years you will have a generation that can talk to anyone across India in a factory or trade setting but you killed your language and culture. Don't fret I described China of the 1980s, the languages are Putonguah and Pinyin. Indians think this is bottom up.😂
Bro here you are are little bit wrong as chinese is autocracy they at the time of 1980 in starting used the top to bottom approach like west but after 1995 they used the bottom to top approach china used both approches because they are authoritarian and they know when and how to change
How many India has brought out of poverty!?
Great man with clear concept, and hats off to the interviewer also ,he listened very calmly without interrupting so we got a great interview ❤
Didn't feel he was practical and Hypothetical Speech😂😂
Economist saying black money is destroying economy on one side and saying unorganised sector needs boost isnt unorganised sector contribute to major cirruption by not paying tax
They mean the businesses which are in unorganised sector now need to grow. They are not against organising them.
They don't pay tax is exactly why they need to be bought under regulation
At that level , no government involved is better as it creates less problems even if these people save something on tax they will spend it for consumption (boost to GDP), eg- an unorganised sector setup with ₹10-15Lpa revenue with 30% margin will earn ₹3-5 lakh/year or ₹30 to 40k per month so they are not liable for income tax but no paper work or govt involvement gives them freedom of work and flexibility. This makes them urban lower middle class. This is an over simplification but I hope this example shows unorganised sector doesn't mean corruption but is very much a part of our regular/ bigger economy or national GDP.
He want people to produce soaps and FMCG products at home and compete with FMCG giants with all technological efficiencies, knowledge and skills and safety certificates.
*He is a scam, I know him very well. People like him know how to use articulated English & they know that Indians will be impressed with the english regardless of the content*
Sir why do MBA. We in Delhi can't find carpenter, Plumber, Electrician who is competent enough to do a decent work. I paid 800 to plumber for 1.5 hour work . What is the level of B Com, M Com etc in our country, we all know .
In the UK a plumber or an electrician charges 120 £ an hour.
This is the type of teachers we have....It is because of these people , the nation is going backwards....Not one word of recommendation that will develop the nation....
He just want attention
He want people to produce soaps and FMCG products at home and compete with FMCG giants with all technological efficiencies, knowledge and skills and safety certificates.
@@intellectualendeavors7194well he has to create the environment for the next rung of dung beetles. The feminist sociologist who blames lack of female friendly tools in these home factories leading to patriarchal injuries. The environmentalist who will unironically put up a photo shot in Central Park or Dubai Zoo to educate us on India's pollution.
one of the prime reasons for low level of tax payers base is because agriculture income is non taxable and crores are hiding their income as agriculture income..you can take Punjab for case study
Well, he is not addressing tax payers base. He is addressing the concerns of unorganised sector. On your point of taxing agri income - special reference to Punjab. Average income of Punjab farmer is Rs.26701= 3.2 Lakhs per annum is far below taxable income. It is possible very small percentage of farmers are rich above taxable slab, but they are very small. Inspite of Punjab being highest per family income in agriculture, lowest in Jharkhand/ Odisha with mere Rs.5000/- per month, 60,000/- per year - you want to tax them?? we were 60% agri dependent families in 1950s, stands are 40% agri income dependent families. In developed countries only 15% of population does farming which is sufficient to feed the entire country. Spend time reading Swaminathan Committee report to understand how agriculcure works in India and what transformation needed.
@@தமிழ்ராஜன்you are missing the fact that agri income tax exemption helps people who have agri connections but make ton of money from other sources evade taxes. Remember the controvery Amitabh Bacchan registering himself as farmer.
Every state should be taken into account.
Daughter of Shahrukh kan is also a agriculture person.
Is the agriculture income taxable in China? Is it not correct that agriculture sector is the most subsidised sector in USA and Europe? With agriculture income why you want to destroy the back bone of the economy in the aftermath of land reforms?
This is such an idiotic take on black money. India should lower the tax and regulatory burden on businesses to unlock growth like the US. You want to solve black money - lower taxes by 90% and be more like Dubai or Texas.
Exactly, he is the kind of economist who is actually enabling deep state corruption by muddling the conversation with such shallow armchair policy proposal
You answer is idiotic lowering taxes doesn't make you like america aur dubai but you have to balanced out everything give incentives on labour to industry use the tax collected by business to give them incentive as well there labour extra subsidy to work hard
We dont need more school and colleges we already enough,just ask the fees of normal school minimum 8000 fees they demanded ,we need factories in our area for jobs not college and school
Thank you so much for this interview 🙂👍👍👍
Sure , it is necessary to strengthen the net of social protection for the poor . But any plan for an economic revival will be incomplete without accompanying efforts to revive the purchasing power of India's large middle class.
Large middle class?
Engineers are working as ola uber drivers and Swiggy Zomato delivery jobs
They are working as loan collection agents etc...
Most of them have degree but not skill
@s.k.p.9158 Modi doesn't rule W Bengal, Tamil Nadu or Karnataka, if Modi is responsible for your unemployment then this is the high time you should move to some non Modi state & unlock your talent.
@@santhoshkumar1000 True
@s.k.p.9158 Then you can start a company and recruit all of them. It's a simple solution.
@@noize2sound0:05 modi ruled whole India. He is prime minister not chief minister. He is one responsible for demonetisation, gst, income tax etc.
UNORGANIZED SECTOR OR UNACCOUNTED SECTOR ?????????
BECAUSE OF G.S.T UNACCOUNTED BUSINESS SECTOR IS AFFECTED.
THERE IS NOTHING WRONG WITH UNORGANIZED SECTOR.
JUST BY STRENGTHENING MICROFINANCE YOU CAN HELP UNORGANIZED SECTOR.
Not just that. These fraudiyas picked up papers which showed the impact of MSMEs in developed economies(single suppliers of proprietary chemicals/processes) to prop up Chintu/Mintu generic plastic factories for local satrapies.
When globalisation hit us and the Chinese flooded us with items priced at a third of the cost price, we saw an extinction of Chintu Mintu factories. Now they are crying for the same Chintu/Mintu factories to open back.
He is right the sector is in organised because there finance is not good now the govt impose taxes over that how will you think a man with no finance can able to work under that burden instead the best way is extra gst in organised sector low gst on un organised sector find the way to make un organised sector organised simple
I think this gentleman’s data itself needs a peer review! And coming from JNU, I would treat his info with a huge pinch of salt. His protocols and data collection methods need to be reviewed before his analysis is wholly accepted!
This gentleman was telling on news channel that india can not become 5 trillion dollars economy....
I think you're lying. When did he say this? And in what context?
He just said India cannot become 5trillion economy ever? I don't believe you.
Not He just saying India cannot become 5 Trillion in a given time frame.which the government is telling all of us.
Just kidding
1) China implemented an internal visa system. People are not allowed to work anywhere they like. Will prof support such a movement by Maharashtra? 2) China forcefully moved people out to create well-planned SEZs cities. No market-fair compensations are paid. Will prof support such a government action? 3) China mercilessly forced a one-child policy. Will prof support such a government action? 4) China has horrible labor laws and pollution laws which helps in keeping cost-of-product low. Will prof support such a government action? 5) China built a huge road/railway network. This reduced the cost of goods transport drastically. Forceful land acquisition in China is not an issue. Will prof support such a government action?
These guys quote China's growth without quoting specific actions China (Deng Xiaoping) implemented.
I read some of the comments and couldn’t understand them. The guest made great sense to me. Yes some parts require bit of an understanding of micro and macro economics. It’s was a great podcast.
It is wrong perception that automation reduces employment. It only changes nature of the jobs. If maruti raised the number of robots in its factory to replace the humans, that indicates the emploment has shifted from car making to robotics making.
Great podcast Siddharth, keep grow & invite other economist like him also
What ever he told as threats are same as 200 years ago, people said about industrial revolution. So these disruption are part of development. There are more works in auto industry than before, so that industry can improve productivity they employ robots. Let's not blame industry also not the government we have to have a drive to improve our life, we need to work on it.
Prof must give data of what happens in first 60 years for employment , education and health. In last 10 years lift from bottom pyramid is happening by 300 mm mudra loan .
how can he? Data are collected by govt , but they are fake especially for past 15 years
use your head
posted by
C.P. CHANDRASEKHAR: ..C.P.
...this is a government which not merely manipulates its statistics, but more importantly, uses every number possible to try and create this impression with a lot of investment in propaganda. And therefore, this is something which has been bought by the media, as you say, not merely in India, but across the world...
True
He is a pseudo economist
bhaktidiot spotted
posted by
C.P. CHANDRASEKHAR: ..C.P.
...this is a government which not merely manipulates its statistics, but more importantly, uses every number possible to try and create this impression with a lot of investment in propaganda. And therefore, this is something which has been bought by the media, as you say, not merely in India, but across the world...
okay, we’re not talking about a 7% rate of growth, let’s say that, okay, let’s sort of favor the state as it were, and say that, okay, let’s say, maybe it’s 5%, maybe it’s 4.5%. '
Employment is low, unemployment is rising.
.economy growth..top 3, 4, 5%, maybe 3%. Yeah..
.. how China has a huge current account surplus, India has a borrowed surplus, and so on.....
Is India's economy truly thriving? Or is it exaggerating its growth?
Geopolitical Economy Report
Education reform needs to be done by high quality online certifying examinations for every degree - simply pouring money into buildings and professors will not bring results. Today high quality lectures on any subject can be found on TH-cam and you do not need classrooms and teachers except for schooling upto 10th standard. Today in India you can get any degree because the examination system which is the fundamental quality check of knowledge is corrupt as everything else in this country.
Correct. That is what Sanjeev Sanyal also said.
Mr. Arun Kumar showed us the mirror. But if one doesn't want to look? This exactly what's going on around!
Thank you so much Neon for this source of knowledge and wisdom!
Corruption has increased 100 times in recent times. Why everyone talking of economic growth if at the cost of poor people. Our government has become very cruel
Prof has done a positive economic analysis of India's economic history.Institutional economics teaches that market economy can give the desired results only when institutions generate trust transparency and share required information which can help in decision making Census data should be conducted and analysis should be done at the earliest. The normative side requires more fairness on financial matters and simplify governance of the tax system like gst to upgrade the unorganised sector. Unorg sector is no doubt is a cause of corruption . Where do they borrow from from? local moneylenders. Why standards are not met in production for example, immitating brands selling spurious good and these goods are available for the unorganised sector to sell. So much of the goods and services produced and sold are in the unorganised sector. So how is the nation going to get its taxes.the nexus between unorganised sector and blackmoney sector funding their activities is huge. Several forms of illegal activities will continue to emerge . Govt must support employment generation otherwise this unorg sector will suffer and black money will continue to only grow . A condolidated talk .
Totally agree with Arun Kumar about transforming education infrastructure and decolonization. He is accurate about Indians and India (as a nation) lacking the political will to transform. Chalta hai attitude predominates..that is not karma yogi.
Too much talk of "we need to spend x percent of GDP". He should talk more about the efficiency of the spend .
If you want effective efficiency in any work you have to spend on R&D.
This is really a great podcast.. Professor brought out critical and contrarian thoughts in best way possible ... We want more ...
GST comments are really confusing,host should explain if he's supporting unaccounted businesses
He is basically saying that cribbing sophisticatedly like me will make us a developed nation!
This is an excellent interview which exposes the real problems facing the Indian economy.
Thanks for inviting Arun sir 🙏
Crores of Rupees of black money are paid for purchasing of few acres of agricultural which hardly creates any worthwhile capital. If it were used to set up a agro based industry, it would sustain 50 families. Why it is not happening.
I found the video interesting all the way until he uttered MSP, which is another form of freebie. I stopped the video there.
Underrated podcast ❤
India perhaps needs micromanaging, state by state, sector by sector. Officials need to stop shouting at each other in Delhi, encourage lower birth rate and get clear about human value.
This is not socialism.
This is true capitalism
India made a great mistake by not resorting to any type of official birth control system in 1960-70s like China; now govt should publish proper labor market data every month and core inflation; RBI should be given Fed like dual mandate of maximum employment and minimum price stability; say 4.5% unemployment that and 3% core CPi tgt; govt should ensure free quality universal education, healthcare and drinking water for all
Irony is janata changed government because of Bofros, but today Bofros has become mini as corruption today increased higher!
Sir your advice on making co-operatives of cluster like the brass cluster,etc is brilliant. However, there’s significant trust deficit amongst our population - for rightful reasons.
I think the cooperative is a perfect place to apply blockchain system so as to eliminate deficit of trust.
If automation removes jobs. Imagine how many jobs were created by introducing computers. Automation and technology can only create jobs and improve productivity
My friend said he paid for a MBA symbiosis degree recently i was like shocked at how easily he got it
Fiat currency is the root cause of all issues
Due to huge political/system corruption, India's combined PDL is now almost 375T, almost equal to nominal GDP
Branded garnents products, luxury products, vehicles, available at lowest cost in USA which is exported from India. Branded Jeans available 12 dollars, the same brand available in india at double or triple cost. Manufacturer getting same cost. Despite low wages. higher multiple taxes and inspector rsj is the problem in india. Tax extortikn is the problem. We need minimum govt for maximum governance
It is a wonderful talk, the best economist of India. Does Government listen to somebody like him, is it able to make use a genius like him?
I wish better days for India,
Very good interview. Modi should listen to this??
Not at all. This is the kind of idea that RG would listen to and in the process “socialize” poverty.
No country has developed by reversing urbanisation.
Giving autonomy to professors results in professors teaching as little as possible and handing out marks as liberally as possible which results in bad education but high ratings for the professor from the students. Students should be the focus and they must be forced to study hard to pass high quality independent certifying exams which are not conducted by their professors. Professors have little to do with learning, it is the student who has everything to do with learning.
The good professor is wrong. There is no viable unorganised sector in India anymore.
Education doesn't make you rich, starting a business does
He is right about too much consolidation with Adani and Tata. That needs to be broken after 15 years.
Every economic policies will have pros & cons it doesn’t mean the GST was wrong .
Employment problem is the main problem that has to be addressed immediately
Please give this very smart gentleman to Pakistan for 5 years. He is really a Genius who can see behind the wall.
what happened is we are completely depended on politicians rather than scientists and education shit of everything is coming from politics
This was enlightening. Will definitely read the book . Please listen to this podcast if you truly care for the country🇮🇳.
A true patriot constructively criticise his/her country so that the country truly develops. A must watch for all Indians
Unorganized business is huge compared to organised in India
For people like him, as long as congress was at the helm there was absolutely no problem.
It is these very people with communist ideology who are responsible for everything that happened till 1991.
These theoretical economists have not helped any economy either in India nor in US.
Unorganised sector is more unproductive sector. Unfortunate that even professors are supporting unproductive actions. How can you generate jobs by encouraging unproductive sector? You can’t.
Principal needs are national investments in primary & secondary education with emphasis on critical thinking, and in health care nationwide from village levels.
Salute to this economics professor from JNU.
Government of India needs to sit up and take immediate note of his suggestions on education, health and emphasis of inculcating critical thinking in our youth.
Skipped this podcast after watching comment section .
He is speaking true
he wants to take india back to the 70s, 80s and 90s. my mother worked in a nationalised bank, thus i am more than acquainted with the working of these banks. i am witness to the improvement in banking infrastructure and transparency with the advent of technology. same thing applies to working of the post office services. human interference makes the system inefficient as was observed in the banks, post offices, and in LIC. if one asked a secondary LIC agent for any official help, they would decline to help unless one do these agents a favour by opening a new policy with them. i think this man has never faced such hassles of mundane life. i find his words delusional, as the policies he suggests have all been tried for decades without an ounce of success.
Thank you Neon for such a good discussion on this topic without propaganda and agenda. And the Speaker is very knowledgeable and experienced in this topic. I have been listening him since he used to come on lok Sabha and rajya Sabha TV but because of recent government development, it is no longer worth watching.
This man is genius..He told the bitter truth of India.
U r right.
He is not genius.
Just a good analyst
Only hearing the negatives .. talk about the small positives ... talk about plans for improvement
if Arun Kumar is correct in reporting data that 280 million youth are unemployed, doesn’t that present as a Business Opportunity for India (net positive)? This is why they economists are dismal.
There was a big gap about 50 years back between developed countries and other countries
No country really understood the opportunity except china
After seeing the Chinese model mostly every country has woken up and started following the Chinese model
Except India every country has progressed reasonablly if not equal to China since they started 10 to 15 years later
The 15 years lead and their size of the population created a big difference and made them the second world biggest economy
Such a large population cannot be developed unless we age visionary leaders. today we have crooked politicians.
Govt launched e-shram portal to help unorganised sector. Learn about it.
I'm personally interested in how to transition the unorganised sector to organized one. What shld be the policies for this ? How to irreadicate black money completely ? It is good that demand is transitioning to unorganized to organized sector. We have to just find a way to help unorganized sector to assist this transition.
Everyone knows the problem. It would be helpful if people can provide the solutions.
More voices should be raised for unorganised sector.
Or neither cities nor villages will be liveable..
Some things don't add - If this Prof. and JNU's criticism was the right way then why for all the years lets take the 40 years of this prof @JNU that India was not growing. Surely, the Oligarchy in India is not good, but if Education and Healthcare was recognized by these critics - can we know what was happening in these sectors prior to 2014?
Trade is most ignored sector of economy. A 100 sq ft shop gives employment to minimum 4 persons with no concessions from the government. Compare this with concessions to industry.
There is a massive and credible institutional infrastructure which does the statistics of the country. There are numerous credible experts who accept large macro numbers and indicators .But this one expert has had not even a single word of barest agreement on anything the present govt has done nothing of any value.
This was a very repetitive, disorganized word salad from the good professor. No concrete solutions that can be executed. Just repeatedly circling around the same words… this professor has no solutions, just a
repeated rant on how bad India’s education is, kept describing circular arguments. I would never want him as my professor of anything.
The interviewer timidly asked the right questions… eventually. The professor kept repeating himself.
Both very poor at their attempts: weak, lacking confidence, repetitious and garbage of word salad spewing forth …interviewer is very timid… he should have rudely and bluntly asked the circuitous professor kept vomiting the same negative comments.
Guys, do something that will improve the system… don’t keep repeating how bad the system is. You are licking your own tail… waste of time!
Let me ask what you have done to improve your family's financial conditions. You also repeat the same words that are not repeatative.Atleast have have some opposite opinions to show we can cannot become what we think we want to become in 47
Great talk by prof. Good stats, points for thought, but honestly I strongly felt he is so focused on the period since modi govt came, what happened before that period.
Neon folks, just listening entire session, nodding doesn't add any value. How are you prepared for such interviews? No questions asked, not challenging it. Feels like an event where speaker is delivering session.
There is no need to get everything into organised sector. Doing so lays open our strength areas, immediately western developed countries will dive in to compete or take over. First we need to define why should we count GDP the way it is defined by other countries. We should manage to keep our unorganised units active and thriving
Going through the comments one can easily say that the general population is still living in denial…there are great points raised in this video…fine let’s continue to live in denial…and forget about becoming even a middle income economy
NO POINT RUNNING US MNCS AS CEOS....
Talent is going to us because of economic opportunities
That is why I came to b us in 1966
In modi govt We become vishwaguru without education and without Employment.
To close the gap is a good goal. But it's more important to make the economy pie bigger
half correct half wrong.
That means you only understood half. The wrong one.
Why don't you point out which is half correct and half wrong in detail
This was a great conversation. There are no short-term and easy answers but at least there the right questions to ask.
not impressed. felt he has less practical vision.
Indian economy is still 2.5 trillion. I don't believe so. Whole conversation turned illogical
GDP is maybe 4 trilion but Per capita income of 90% people is at still 10 year low... Still population of country is increasing sometimes I see my people having more than 2 babies and say it in my mind WTF are your doing...
He means to say that the figure shown is actually what our true gdp would be,if we also add the shrinkage of our unorganised sector which results in higher government spending to support the poor class (freebies)which only does the work of digging and filling holes i.e they pay for the population of poor and shows huge amount is spend which will be shown as government expenditure which is getting calculated in the gdp
Feel free to correct me, this is just my assumption
Gandhi never said anything about bottom up approach
One one end he says we are behind other south Asia countries as we lack technology and then he says we have unemployment issue as there is technology.why is he totally ignoring the factor of population explosion and unorganised immigration?