Because the interviewer knows about economy,other interviewers know nothing about economy,all they have is talking points, pre written questions and know nothing about the subject
How Gentle & Tall- Prof Raghuram Rajan sir is-" says i have a policy not to comment on RBI policy (not to comment on my successor's /predecessor way of working) - RRR's every sentence is an useful lesson to me
That’s the only thing you can pick after the whole interview to talk about. You kind of fan boys are the reason why people like him sitting in a pedestal and spitting on everybody else.
6:59 You know why there aren’t many MSME bad loans ? Because banks don’t lend to MSME without proper collateral. And rate of interest for unsecured loan is high that MSMEs are better off without that. You don’t need a finance degree to realise this
Hi Saurabh, A heartfelt thank you for generously contributing towards our journalism. We want you to know that your support is truly invaluable. Do keep tuning in to our channel.
Salute to the real gem of india... What a wonderful heart man... He has the core understanding and solution of india's hurdle to prosperity❤. There are budle of celebrities, businessmen, heroes, athlets, cricketer india have and all nice. But a gem like Raghuram Rajan, worth a one in a billion... He should be in Indian advisory, he can make the difference in not one or two but millions of Indians... Salute..
@@mg.f.9023It's because of the freight equalization policy of Nehru. Extracting minerals from jharkhand and Bihar and shipping through ports of the south. We don't expect logic from Madarsachap bullas.
That's a very big question? Is he now afraid that his name might now come up about the corruption & bad practices that lead to huge loses to bank where crooks got loans..
@@prakashgosai1186 He was not responsible, it is the politicians who are responsible, and when he could not longer get on with the politicians, he quit...as simple as that.
@@Bharat_P Obviously he has to mellow down, most economists prefer not to be in the limelight when their suggestions are not accepted. He was the first RBI governor to enlighten the common man in simple terms. He had categorically opposed demonetization and also advised that we should not follow the Chinese model as it would lead to failure. His stand has been vindicated by see ing what is happening in China!
@@ram1011 There's no vindication on the China front. China is still doing quite well as the factory of the world (with active support from all the left leaning academics who make up fake theories so other countries stay away from manufacturing). China has an entirely different problem which is not only demographic and based on the the aspirations of the young, but also on security considerations based on how China is behaving geopolitically. India is the perfect alternative to China in terms of ability to scale up and take on a large percentage of the manufacturing (not Vietnam, South East Asia/East Asia). It's also the stablest democracy in the area which is likely to stay democratic for the foreseeable future. No, only manufacturing will not get us there, but that doesn't mean ignoring it. Ideally in today's world, 80-90% of all goods and services we consume should ideally also be produced by us or there should be some value add.
State governments still not ready to stop come out of socialism. Corruption is decentralised too reduce beurocracy and three level panchayat raj system. Have only one level panchayats.
Excellent discussion. Truth be told, it does leave one a little worried, because clearly we aren't doing enough to skill our youth to make them productive and employable, to uplift children from malnutrition curse, improve our infrastructure (and environment) to attract new private capex, all of which will lead to a much deserved growth rate much much higher than 6%
Who is this "we"? Is the society responsible for the individual? If an individual fails, do we blame the society? Last time I checked, people were supposed to skill up by themselves because it benefitted them. Now all of a sudden it is my fault that these degree holders do not find a job?
The problem is the Central and State governments invest a lot in education, every rupee they invest is taken from the market which would have been utilized towards a private sector job (had it not been used by the government to fund education). By funneling government (taxpayer) money in education, they increase the number of degree holders _while_ reducing job opportunities. Then to deflect blame from nonsense policies, they blame skills and lazy youth and so on. High government expenditure _causes_ high taxes, high taxes stifle economic growth, low growth is less jobs, less jobs is less skills. The out of control government expenditure needs to stop.
@@holdmybeer123He means the govt and the electorate that elects them into power. It is about how effectively are we spending our public resources. Training people and making them employable by creating institutions in conjunction with industry is something that can be done by govt to boost employment.
Wonderful discussion. I have my view on the last note. As I understand we need pride attached to work for something that is difficult to achieve. India calling itself 4th largest economy provides us with the sense of positivity that will allow more Indians to work for the betterment of the nation. without certain attachment any improvement is short live, and the path Infront of us is very long.
Excellent discussion covering a range of topics, and the credit certainly goes to intelligent and informed questions and follow-ups from the interviewer.
@@Nilanjan-biswas it makes sense as follws: 1. world is shifting towards knowledge based economy and tech driven services. They will have far more value than traditional manufactured goods. 2. Service sector can penetrate India's vast rural areas more effectively 3. It do not require as much capital(which India do not have) nor do they have large environmental impact (which India cannot afford) 4.There are already powerhouse manufacturing hubs like Vietnam who offer better supply chains and low labour costs. 5. India is already a Services hub and can leverage its already good position 6. India's educated youth is better equipped for service-oriented jobs than for traditional manufacturing roles that often require physical infrastructure and large-scale capital investments Overall, it makes good sense. But does it make sense for godi media watching pseudo patriots, i do not know.
Instead of creating human capital as Dr Rajan emphasised.. we have excelled at creating human gobar..thus ensuring an illeterate vote bank which will take us back 50 years instead of foward. Cheers to the voters who asked for this.
Sharad Raghavan, I am surprised Print is doing work of this quality. Even more surprising Shekar is letting go. Actually, that’s the way to grow The Print. Let all the glory be with Shekar, let him retire from active journalism and reminisce. He should just go.
I think someone did a software update to make him understand manufacturing is important, otherwise he was all about improving and focusing on service sector
@@micheal6803 He never said no manufacturing, he said we shouldn't focus only on low-skill manufacturing with massive subsidies because automation will kill that soon
It’s easier said than done. India Is probably the only country in the world where people lived for a few thousand years without much of social turmoil. This, in the process has created multiple layers of sediments one pushing the other down. Farmers are one such layer to whom earlier governments have given a lot of importance keeping in mind the food security. That was needed then, but it is going to be very difficult to weed them away. We saw what happened when Modi introduced the farm bills. Now it’s almost like government is waiting for market force to catch up when these subsidies becomes irrelevant if MODI is around till then, or this current BJB government is around till then they would re-introduce the same farm bill which would be cleared in no time.
Unproductive agriculture? Just because you can’t measure unorganised agri sector gdp correctly, it doesn’t mean that they are unproductive. It’s the heart of any economy. Look at US, they made it as organised sector and what happened. They made food as processed food and poisonous with sick society after age of 40
@@dfarmer4201 our food would be lot more affordable if the govt didn't have to impose high tariffs on agriculture commodities to protect our pathetically unproductive agriculture. You may like to find out the rate of customs duty on wheat , rice milk etc.
In companies sometimes people allow debt ( sales) to become bad and subsequently written off. Sales staff get incentive to collect written off amount. Everybody is happy for the following reason 1. Buyer get 3-5 years of interest free loan 2. Sales staff gets incentives to collect old dues. 3. Company is happy as they get tax benefit on written off amount. 4. Company is again happy written off amount when collected becomes profit, goes to the bottom line. 5. Government gets tax on this profit assuming that company is profit making.
Raghuram Rajan was on economic advisory board of TN government who are doling out freebies to women..why did he endorse them/ ? anchor failed to ask this..need better prep and questions
Main problem with India is the immense corruption....how can its citizen progress when they arrived at work or school they are already worn out from the morning travel and when they go home at night its already late. Infrastructure has to be fixed
RBI has to come under the government, not run by a bunch of bankers and economists who love to create inflation and recessions, put the common man in trouble by forcing the government to increase the income tax and start additional GSTs etc., while filling their own pockets.
The possibility of increasing population suggested very recently can possibly become a reality only when the income of lower middle/lower income groups increases reasonably with the help of better education and better health. Otherwise it looks impossible as people from these classes have become aware of problems of increasing family size without the commensurate income to support it.
In order to maintain a modicum of credibility ,he realised he had to sound objective enough and also eschew from making any political comment. Good briefing by Print.
TL:DW UPA sucked, NDA did better but could have been better. For the Next 2 decades, UPA is NO NO, but NDA while being in the right path it isn’t fast enough. I think Mr Rajan wants to have a lateral entry into the current Govt.
Only 6.68% of India's population filed income tax returns in 2023-24 financial year, says the government. Also a large number of these ITRs report zero taxable income. What are the reasons? Is anyone doing anything at all about this?
We did not give opportunity to msme due to licensing and red tape. You can't make policy in air-conditioned office without being in touch with ground level.
RRR could give some view on printing and distributing money during covid and increase interest rates which has made most of the american insolvent if they do market to market
Raghav, TN used to claim that their detection of AIDS was the reason for higher AIDS incidence in the state as compared to other states. However the moot point is as to how AIDS rampage started first. In a similar vein the NPA pile up happened under UPA and under the nose of Rajan when PC drove banks to lend as it was their “ Dharma” to lend. Memory is short for journalists but Bankers won’t forget that.
It is so interesting to see our top businessmen, who use creative methods of influencing the system in India. Nobody in India at the top, cares about skills & business strategies except for maybe tata? And we wonder why we have ultra rich businessmen but no 3M, sony, amazon, google, AMD, microsoft, honeywell, TSMC, Nvidia, ASML, Texas instruments etc. Democracies are not easy, but Bill Gates & Jaishankar-ji can only come from liberal institutions. Why has this Govt not been able to match the urbanization created by the Govts in Asian tiger economies/democracies? Any economic progress in India, like in IT is often accidental, & not coz of policies. In India, we don't have great generator of knowledge or great innovative companies. Indian industrialists are not actual industrialists; they are traders. A trader merely deals with logistics & exchange of goods. They are money lenders to kings, but does not invent new things. Real industrialists, invents new things & brings it into the market; but we don't do critical thinking or original ideas in business. We are good at incorporating things of others, as we have chillies, tomatoes, potatoes etc into our food habits. If we want India to progress, we need leaders who can push, to change the culture of fear of failure & irrational criticism. Reducing petrol & diesel prices when global prices fall, would be an encouraging move, as it doesn't make sense for Indian oil companies to reap record profits while consumers continue to pay high prices. To further support economic growth, the union govt should min the harassment from agencies & help firms invest into paying better wages, which will contribute to per capita growth. First Tax Corporate A1 businessman who spend 5 thous crores in son' s wedding. Fm should reduce, tax rates for the rest & help in job growth, which will lead to better salaries & consumer spending. GST is paid the majority, by the bottom 50% of this country, so we are already taxing highly at the bottom. In India, when people have connections with politicians, corrupt people commit crimes, without fear of consequences. Does this country belong to the few ultra wealthy? Cost of living & vegetable prices have increased too much for ordinary people. The vegetable prices have increased by 63.04% & fruit prices by 13.55% in Oct 2024. Consumer Food Price Index was 11%. Consumer Price Index for Oct 2024 was 6.21% & for urban CPI is 6.68%. Household saving have been dropping. When people have more disposable income, they're more likely to spend money, which increases economic growth. There is a hypocrisy in the idea that farmers are labelled as greedy, but the same isn't applied to pro govt businessmen who get write offs of crores loans. When farmers manage to increase their wealth through their hard work to providing food for the country, we must actually celebrate them, but pro-ruling party followers tend to ignore the diversity of farmers in different states, from small-scale farmers to large-scale non-corporate farmers. It's time for the govt to prioritize the well-being of all citizens, not just A1 Where ever there is less manufacturing, some loud people think it is neither the govt policies or industrialists fault, nor the regulations & resources, business environment & ease, skills & training; they completely blame farmers by holding them responsible for stopping India's manufacturing sector since they are no job option but just farming today. The ruling party at the center talks about the Speaker, being from a humble background as a farmer's son. If farmers in India are so greedy, then why is the Speaker's background being called humble? I have seen that people in the North India, tend to focus on how my religion of Hinduism is always in danger & attribute various issues to leaders of the freedom movement in India. They say that our past achievements were rooted in our religion, but these ageing minds are all Indian coconuts influenced by reagan americans. rss who talks big about their disliking west & Italian ideas, their founding leaders were influenced by mazzini & garibaldi etc Italian & germans & europeans. They forget to acknowledged that India missed out on the major developments like scientific revolution, Renaissance & Reformation, taking place along with major wars between Europe powers, for 200 years starting in the 15th century, which is why we were easily ruled & had to miss the Industrial Revolution, which hindered our progress. In modern India, we are Indians even jains muslim sikhs christian 6 million parsi in India etc I don't agree one group is the root of problems in India, coz even without them, there would be still be all the deep challenges that exist in India.
Gr8 interview. Before the MPC framework came into existence, the RBI had a much broader mandate than just inflation targeting. Do we need to broden it again. If not like before the MPC then just including the unemployment atleast.
Constitution is a shared foundation that unites our diverse countrymen. Its the guiding light, for our military & judiciary etc, to work together to protect citizens of our country.
So accordingly Dr.Raghuram Rajan it is all the positive point in checking out all the pros and cons of the banking economy and the substantiation of the FMCG more from China at an actionable stance.So it will be observed that the money flow will be towards China but not the US as being so opportunist in case of Indian economy is fantastic. So RBI need not to worry about the unemployment in case of less GDP right?So we have to move out of the country and find out jobs in China.
Dr. Rajan, Screw low skill manufacturing. Let's make all our farmers and village folks into MBAs and chip design engineers to generate jobs for the masses! 😂 This just tells you how out of touch this guy is on subjects he doesn't know much. When you bring chip foundries, you also get an ecosystem of assembly and test houses, PCB design, fabrication and test houses etc. all of these jobs would require low skill workers. Unlike what Mr. Rajan thinks, chip designers require a lot of training and it is not very easy to train these in ITI. You cannot use ITI trained engineers and risk building million dollar chips because of the huge costs involved in the tape out Having worked in semiconductor companies for 25 yrs, I know that. Even the likes of Nvidia that employee, IC design engineers in India recruits from the IITs and NITs today. This is not something you can hand off to ITI trained people.
He could not bring himself up to appreciate what the current government is doing. A lot of what you’re saying is already very well known he has not offered any concrete solutions for example in service sector. the value addition terms to do that, but it’s the education market that is taking the initiative. Granted in many cases started like a cottage in industry. Now they are getting more formalized, and the quality of those such trainings are improving. I think as smart as he is, he need to be more harnessed, to himself and put his personal prejudice aside. Sometimes sound like the unnecessarily strict south Indian father who can never come around to appreciate what the kid has done, but always about, where is the missing one mark.
Why were loans written off?????? How much in Corporate Loans was not recovered???? Did they pay tax on loans which have now become free income for corporates!!????? Paisa waapas lena padega...😡♨️❌🔥🛑🛑🛑❌. 23-12-2024
Chest thumping is needed for politicians to win elections. Economists can advise them only if elections are won. If Rahul had won Rajan would have been in Delhi. That is the reality check.
It’s so easy to say what should be done without telling how. When most of the money goes in all freebie nation will take forever to develop. No money to invest for the future. Farmers want MSP on things they grow which no one wants to buy. Carb consumption made our nation diabetic capital. If you are voting for free stuff I don’t blame politicians or political parties. As they say we get what we deserve. India will develop but it will be very very slow.
What is required is simply this - based on Aadhar PAN linkage, Govt should determine individuals having financial and real assets worth more than say, 10 crores and tax them for their wealth at the rate of say 0.5% onwards going up to may 2% per year, in addition to the income tax. This tax is required as rich do avoid Income Tax and also black money in real estate is not trapped otherwise. All this possible through system and no one need to file any return but just pay as per the recorded valuations. This will have effect of a good feel that rich are taxed and they contribute for the society in line with their wealth. The issue is not whether how many pay it or does it achieve any lofty objective but a message to all that rich need not be hated and rich contribute to society in one more way through wealth tax. So a few hundreds like Ambanis, Adanis, Murthy, Nilenkani, Mittals to Ashnil Grover etc will pay a few hundred crores and that is not a bad deal. Besides, as they are few in numbers, they are not even anyone's vote bank!!! In fact, being friends with them is a big political headache, as Modi is facing it !!
@@surendrabarsode8959 the richer they are, the better they are in evading taxes..solution is to formalize the economy and INCREASE tax base..why are still only 2-3% only paying taxes? Govt has miserably failed to create more jobs n formal sector..private investments are down and not picking up
Taxing income is always better. Problem is I know few folks who are really damn rich, multiple crores in annual income but they use very clever tactics to escape paying much lesser taxes than they owe. Our system need to be better at identifying business income first, with some degree of accuracy. That's the basic thing which we are failing at.
Some of it is BS! He says design Chip first, import chips from everywhere now. He said we don’t need to manufacture Chips right now. Full BS! PM cannot do that nor his govt. private companies have to do that. Designing chips is far fetched effort. Can’t wait till then. Only 2-4 companies can do that. Apple doesn’t do it either. Govt is correct with starting low end chip manufacturing
Finally Print is interviewing a proper economist, instead of sadak-chhap BJP agents like Shamika Ravi and Sanjeev Sanyal, who will all go to Jail after Rahul Gandhi becomes PM. Can't wait for Mr Rajan to return to India and become finance minister in 2029. Hope RSS doesn't ruin the economy completely by that time.
What a joke this man is...he became irrelevant when it became clear that he had used ncorrect data for his book..... why give him oxygen of publicity??
The best interview of Dr.Rajan happened due to the right questions raised by Mr. Sharad
Because the interviewer knows about economy,other interviewers know nothing about economy,all they have is talking points, pre written questions and know nothing about the subject
Indeed, the best interview yet. Lots to learn from this interview.
How Gentle & Tall- Prof Raghuram Rajan sir is-" says i have a policy not to comment on RBI policy (not to comment on my successor's /predecessor way of working) - RRR's every sentence is an useful lesson to me
That’s the only thing you can pick after the whole interview to talk about. You kind of fan boys are the reason why people like him sitting in a pedestal and spitting on everybody else.
@@MeTalkStr8 Chill.
Tujhe hsndsome lagta hai kya?
The worst governor for RBI. Remember his 80:20 Gold scheme?
The permanence in govt jobs
should be removed,this is the
main hurdle for govt in tackling
corruption and inefficiencies.
6:59 You know why there aren’t many MSME bad loans ? Because banks don’t lend to MSME without proper collateral. And rate of interest for unsecured loan is high that MSMEs are better off without that. You don’t need a finance degree to realise this
Banks only lend to Adani without any checks.
What's sovereign guaranteed loans then? Unsecured? Without collateral?
@@mg.f.9023Also to ulemas and their pedophila factory of inbreds.
Have you heard of the Mudra loan scheme of the present government?
@@aakashdeepsarkar9503 I have heard about the Mudra loan scheme, it is a bad scheme, very hazardous.
Thanks
Hi Saurabh,
A heartfelt thank you for generously contributing towards our journalism. We want you to know that your support is truly invaluable. Do keep tuning in to our channel.
Salute to the real gem of india... What a wonderful heart man... He has the core understanding and solution of india's hurdle to prosperity❤. There are budle of celebrities, businessmen, heroes, athlets, cricketer india have and all nice. But a gem like Raghuram Rajan, worth a one in a billion... He should be in Indian advisory, he can make the difference in not one or two but millions of Indians... Salute..
A good teacher is always able to explain complex topics in simple terms.
Looks like he learnt to avoid his earlier stance of focusing on service and not manufacturing....
This is a new toolkit. 😂
😂
Manufacturing is heading mostly to the south as in south are more disciplined, educated and not interested in doing Hindu Muslim.
Looks like somebody has proved him wrong.
@@mg.f.9023It's because of the freight equalization policy of Nehru. Extracting minerals from jharkhand and Bihar and shipping through ports of the south. We don't expect logic from Madarsachap bullas.
What has happened to Raghuram Rajan? .. How did this transformation happen?
That's a very big question? Is he now afraid that his name might now come up about the corruption & bad practices that lead to huge loses to bank where crooks got loans..
@@prakashgosai1186 He was not responsible, it is the politicians who are responsible, and when he could not longer get on with the politicians, he quit...as simple as that.
He does sound a lot more mellow than previously and is careful about what he says or bets he makes...
@@Bharat_P Obviously he has to mellow down, most economists prefer not to be in the limelight when their suggestions are not accepted. He was the first RBI governor to enlighten the common man in simple terms. He had categorically opposed demonetization and also advised that we should not follow the Chinese model as it would lead to failure. His stand has been vindicated by see ing what is happening in China!
@@ram1011 There's no vindication on the China front. China is still doing quite well as the factory of the world (with active support from all the left leaning academics who make up fake theories so other countries stay away from manufacturing). China has an entirely different problem which is not only demographic and based on the the aspirations of the young, but also on security considerations based on how China is behaving geopolitically. India is the perfect alternative to China in terms of ability to scale up and take on a large percentage of the manufacturing (not Vietnam, South East Asia/East Asia). It's also the stablest democracy in the area which is likely to stay democratic for the foreseeable future. No, only manufacturing will not get us there, but that doesn't mean ignoring it. Ideally in today's world, 80-90% of all goods and services we consume should ideally also be produced by us or there should be some value add.
State governments still not ready to stop come out of socialism.
Corruption is decentralised too reduce beurocracy and three level panchayat raj system.
Have only one level panchayats.
Chutiye Socialism is the only way india can create a functional nation
Excellent discussion. Truth be told, it does leave one a little worried, because clearly we aren't doing enough to skill our youth to make them productive and employable, to uplift children from malnutrition curse, improve our infrastructure (and environment) to attract new private capex, all of which will lead to a much deserved growth rate much much higher than 6%
Who is this "we"? Is the society responsible for the individual? If an individual fails, do we blame the society? Last time I checked, people were supposed to skill up by themselves because it benefitted them. Now all of a sudden it is my fault that these degree holders do not find a job?
The problem is the Central and State governments invest a lot in education, every rupee they invest is taken from the market which would have been utilized towards a private sector job (had it not been used by the government to fund education). By funneling government (taxpayer) money in education, they increase the number of degree holders _while_ reducing job opportunities. Then to deflect blame from nonsense policies, they blame skills and lazy youth and so on. High government expenditure _causes_ high taxes, high taxes stifle economic growth, low growth is less jobs, less jobs is less skills. The out of control government expenditure needs to stop.
@@holdmybeer123He means the govt and the electorate that elects them into power. It is about how effectively are we spending our public resources. Training people and making them employable by creating institutions in conjunction with industry is something that can be done by govt to boost employment.
Wonderful discussion. I have my view on the last note. As I understand we need pride attached to work for something that is difficult to achieve. India calling itself 4th largest economy provides us with the sense of positivity that will allow more Indians to work for the betterment of the nation. without certain attachment any improvement is short live, and the path Infront of us is very long.
Excellent discussion covering a range of topics, and the credit certainly goes to intelligent and informed questions and follow-ups from the interviewer.
@@adityaksengupta nothing new that is not already known. He used more economist jargons.
He is making sense today. Not like other days.
Soros is cutting funds now, It appears so.
He always made sense. May be it is because the interviewer is asking proper questions in detail.
@BishakhGhosh-bl2fx tell me how not focusing on manufacturing makes sense?
@@Nilanjan-biswas Focus on services makes more sense is what he says. Chip design > Chip manufacturing. Both in value as well as India's skillset.
@@Nilanjan-biswas it makes sense as follws:
1. world is shifting towards knowledge based economy and tech driven services. They will have far more value than traditional manufactured goods.
2. Service sector can penetrate India's vast rural areas more effectively
3. It do not require as much capital(which India do not have) nor do they have large environmental impact (which India cannot afford)
4.There are already powerhouse manufacturing hubs like Vietnam who offer better supply chains and low labour costs.
5. India is already a Services hub and can leverage its already good position
6. India's educated youth is better equipped for service-oriented jobs than for traditional manufacturing roles that often require physical infrastructure and large-scale capital investments
Overall, it makes good sense. But does it make sense for godi media watching pseudo patriots, i do not know.
Instead of creating human capital as Dr Rajan emphasised.. we have excelled at creating human gobar..thus ensuring an illeterate vote bank which will take us back 50 years instead of foward.
Cheers to the voters who asked for this.
Sharad Raghavan, I am surprised Print is doing work of this quality. Even more surprising Shekar is letting go. Actually, that’s the way to grow The Print.
Let all the glory be with Shekar, let him retire from active journalism and reminisce. He should just go.
Excellent conversation. Liked Rajan’s exposition on skilling.
I think someone did a software update to make him understand manufacturing is important, otherwise he was all about improving and focusing on service sector
@@micheal6803 He never said no manufacturing, he said we shouldn't focus only on low-skill manufacturing with massive subsidies because automation will kill that soon
Well interviewed.
Salutes to you Mr Raguram Rajan.
Loved the conversation…thanks
Great Interview
Excellent interview
An insightful conversation.
Excellent interview!
Insightful conversation.
Till such time as we have democracy, our freeloading farmers and our unproductive agriculture will ensure that we remain perpetually poor.
It’s easier said than done. India
Is probably the only country in the world where people lived for a few thousand years without much of social turmoil. This, in the process has created multiple layers of sediments one pushing the other down. Farmers are one such layer to whom earlier governments have given a lot of importance keeping in mind the food security. That was needed then, but it is going to be very difficult to weed them away. We saw what happened when Modi introduced the farm bills. Now it’s almost like government is waiting for market force to catch up when these subsidies becomes irrelevant if MODI is around till then, or this current BJB government is around till then they would re-introduce the same farm bill which would be cleared in no time.
Unproductive agriculture? Just because you can’t measure unorganised agri sector gdp correctly, it doesn’t mean that they are unproductive. It’s the heart of any economy. Look at US, they made it as organised sector and what happened. They made food as processed food and poisonous with sick society after age of 40
Freeloading? Suggest you find out why your food is affordable and inspite of 'freeloading' why farming is still not viable.
@@dfarmer4201 Actually, our food would be a lot more affordable if high customs duties on agriculture commodities are removed.
@@dfarmer4201 our food would be lot more affordable if the govt didn't have to impose high tariffs on agriculture commodities to protect our pathetically unproductive agriculture. You may like to find out the rate of customs duty on wheat , rice milk etc.
Mr. Rajan has pretty huge hands, couldn't help but notice :P
In companies sometimes people allow debt ( sales) to become bad and subsequently written off.
Sales staff get incentive to collect written off amount.
Everybody is happy for the following reason
1. Buyer get 3-5 years of interest free loan
2. Sales staff gets incentives to collect old dues.
3. Company is happy as they get tax benefit on written off amount.
4. Company is again happy written off amount when collected becomes profit, goes to the bottom line.
5. Government gets tax on this profit assuming that company is profit making.
Though I do not always agree with RR, good hearing his views. Thanks!
Believe in our Vishwa Guru who will make INDIA number one DEVELOPED country in the world. Jai Hind
It’s unfortunate he is not the RBI governor right now😢
Credit to the ruling party for in a period of 10 years have made one person the 3rd Richest Man in the world. That's a feat.
Love this
Thank you for such a thoghtful conversation
Raghuram Rajan was on economic advisory board of TN government who are doling out freebies to women..why did he endorse them/ ? anchor failed to ask this..need better prep and questions
Learnt from " Genius " . Ramesh Chennai
Skilling by the govt was actually happened on hatred not for jobs
1) Do interview some MMT economist.
2) I'm sick and tired of this continuous opposition to any increase in taxation on the rich.
2 economists not able to explain why pvt sector is not investing for last ten years, is amazing. And then what needs to b done
No Mr Raghuram Rajan, u r breaking hearts of Leftists and Karan Thapar.
U too Brutus 😂
You put that very well.
Lot more sensible today.
Main problem with India is the immense corruption....how can its citizen progress when they arrived at work or school they are already worn out from the morning travel and when they go home at night its already late. Infrastructure has to be fixed
RBI has to come under the government, not run by a bunch of bankers and economists who love to create inflation and recessions, put the common man in trouble by forcing the government to increase the income tax and start additional GSTs etc., while filling their own pockets.
We are all aware that RR is now part and parcel of Congress - but would make sense for BJP to reach out to him !
@@sesh7357 why? It’s not. Like he is a economic genius.
He is a loyal puppet of the dynasty; like his father.
The possibility of increasing population suggested very recently can possibly become a reality only when the income of lower middle/lower income groups increases reasonably with the help of better education and better health.
Otherwise it looks impossible as people from these classes have become aware of problems of increasing family size without the commensurate income to support it.
In order to maintain a modicum of credibility ,he realised he had to sound objective enough and also eschew from making any political comment. Good briefing by Print.
TL:DW
UPA sucked, NDA did better but could have been better. For the Next 2 decades, UPA is NO NO, but NDA while being in the right path it isn’t fast enough.
I think Mr Rajan wants to have a lateral entry into the current Govt.
Demonetisation is real master stroke by NDA ,
@rajsingh
You are jocking right? Demonetisation destroyed small businesses.
@@ABHYUDAYSARKAR I am not a fan of demonetisation. It really didn’t do anything good and caused some potential harm for a very short period of time.
Just one comment- Too much of background traffic noise. Not expected such a thing when Indian Express is interviewing ex RBI chief.
Only 6.68% of India's population filed income tax returns in 2023-24 financial year, says the government. Also a large number of these ITRs report zero taxable income.
What are the reasons? Is anyone doing anything at all about this?
@xxyz2023
Thanks, but my question was why is such a small percentage of the country's population paying Income Tax? What are the reasons?
Dr Raghurzm jee grtest economist his adeas zlways perfect
We did not give opportunity to msme due to licensing and red tape. You can't make policy in air-conditioned office without being in touch with ground level.
RRR could give some view on printing and distributing money during covid and increase interest rates which has made most of the american insolvent if they do market to market
He will not because that was the recommendation to GOI who used commonsense.
😅
Raghav, TN used to claim that their detection of AIDS was the reason for higher AIDS incidence in the state as compared to other states. However the moot point is as to how AIDS rampage started first. In a similar vein the NPA pile up happened under UPA and under the nose of Rajan when PC drove banks to lend as it was their “ Dharma” to lend. Memory is short for journalists but Bankers won’t forget that.
Sharad you have definitely arrived! Raghuram Rajan admitted to his failures as RBI, but last 20 minute were waste....he was blabbering unwanted gyan
37:50 Currently every indian is forced to have a pakoda stall. 😂😂😂
That's #Feku govt and thinking for you 😂😂😂
@@CriticRoshun if you have no talent beyond pakora no one can do anything for you all the best keep thinking only pakora
It's not enough to have "critic" in your name, your comments need to reflect that. Else you are no more than a pakoda😅
It is so interesting to see our top businessmen, who use creative methods of influencing the system in India. Nobody in India at the top, cares about skills & business strategies except for maybe tata? And we wonder why we have ultra rich businessmen but no 3M, sony, amazon, google, AMD, microsoft, honeywell, TSMC, Nvidia, ASML, Texas instruments etc. Democracies are not easy, but Bill Gates & Jaishankar-ji can only come from liberal institutions. Why has this Govt not been able to match the urbanization created by the Govts in Asian tiger economies/democracies? Any economic progress in India, like in IT is often accidental, & not coz of policies.
In India, we don't have great generator of knowledge or great innovative companies. Indian industrialists are not actual industrialists; they are traders. A trader merely deals with logistics & exchange of goods. They are money lenders to kings, but does not invent new things. Real industrialists, invents new things & brings it into the market; but we don't do critical thinking or original ideas in business. We are good at incorporating things of others, as we have chillies, tomatoes, potatoes etc into our food habits. If we want India to progress, we need leaders who can push, to change the culture of fear of failure & irrational criticism.
Reducing petrol & diesel prices when global prices fall, would be an encouraging move, as it doesn't make sense for Indian oil companies to reap record profits while consumers continue to pay high prices. To further support economic growth, the union govt should min the harassment from agencies & help firms invest into paying better wages, which will contribute to per capita growth. First Tax Corporate A1 businessman who spend 5 thous crores in son' s wedding. Fm should reduce, tax rates for the rest & help in job growth, which will lead to better salaries & consumer spending. GST is paid the majority, by the bottom 50% of this country, so we are already taxing highly at the bottom.
In India, when people have connections with politicians, corrupt people commit crimes, without fear of consequences. Does this country belong to the few ultra wealthy? Cost of living & vegetable prices have increased too much for ordinary people. The vegetable prices have increased by 63.04% & fruit prices by 13.55% in Oct 2024. Consumer Food Price Index was 11%. Consumer Price Index for Oct 2024 was 6.21% & for urban CPI is 6.68%. Household saving have been dropping. When people have more disposable income, they're more likely to spend money, which increases economic growth.
There is a hypocrisy in the idea that farmers are labelled as greedy, but the same isn't applied to pro govt businessmen who get write offs of crores loans. When farmers manage to increase their wealth through their hard work to providing food for the country, we must actually celebrate them, but pro-ruling party followers tend to ignore the diversity of farmers in different states, from small-scale farmers to large-scale non-corporate farmers. It's time for the govt to prioritize the well-being of all citizens, not just A1
Where ever there is less manufacturing, some loud people think it is neither the govt policies or industrialists fault, nor the regulations & resources, business environment & ease, skills & training; they completely blame farmers by holding them responsible for stopping India's manufacturing sector since they are no job option but just farming today. The ruling party at the center talks about the Speaker, being from a humble background as a farmer's son. If farmers in India are so greedy, then why is the Speaker's background being called humble?
I have seen that people in the North India, tend to focus on how my religion of Hinduism is always in danger & attribute various issues to leaders of the freedom movement in India. They say that our past achievements were rooted in our religion, but these ageing minds are all Indian coconuts influenced by reagan americans. rss who talks big about their disliking west & Italian ideas, their founding leaders were influenced by mazzini & garibaldi etc Italian & germans & europeans.
They forget to acknowledged that India missed out on the major developments like scientific revolution, Renaissance & Reformation, taking place along with major wars between Europe powers, for 200 years starting in the 15th century, which is why we were easily ruled & had to miss the Industrial Revolution, which hindered our progress. In modern India, we are Indians even jains muslim sikhs christian 6 million parsi in India etc I don't agree one group is the root of problems in India, coz even without them, there would be still be all the deep challenges that exist in India.
@xxyz2023 bro, I hope someone from #Feku's team read you message. 🙂
Owner of pakoda stall is contributing the GDP more by giving jobs. Please don't make such ignorant statements.
Gr8 interview. Before the MPC framework came into existence, the RBI had a much broader mandate than just inflation targeting. Do we need to broden it again. If not like before the MPC then just including the unemployment atleast.
38:02 Wow, still.
Does he carry a copy of constitution along with him as a follower of RG
Which is blank inside! The small "red book" that Mao carried.
@ 😆
@@xxyz2023😂😂 Indian constitution is nit a cult book it is just legal book signed by Indians 😂😂. It some cult
Constitution is a shared foundation that unites our diverse countrymen. Its the guiding light, for our military & judiciary etc, to work together to protect citizens of our country.
@ you are from Pakistan ? Right😀
So accordingly Dr.Raghuram Rajan it is all the positive point in checking out all the pros and cons of the banking economy and the substantiation of the FMCG more from China at an actionable stance.So it will be observed that the money flow will be towards China but not the US as being so opportunist in case of Indian economy is fantastic.
So RBI need not to worry about the unemployment in case of less GDP right?So we have to move out of the country and find out jobs in China.
Dr. Rajan, Screw low skill manufacturing. Let's make all our farmers and village folks into MBAs and chip design engineers to generate jobs for the masses! 😂 This just tells you how out of touch this guy is on subjects he doesn't know much. When you bring chip foundries, you also get an ecosystem of assembly and test houses, PCB design, fabrication and test houses etc. all of these jobs would require low skill workers. Unlike what Mr. Rajan thinks, chip designers require a lot of training and it is not very easy to train these in ITI. You cannot use ITI trained engineers and risk building million dollar chips because of the huge costs involved in the tape out Having worked in semiconductor companies for 25 yrs, I know that. Even the likes of Nvidia that employee, IC design engineers in India recruits from the IITs and NITs today. This is not something you can hand off to ITI trained people.
Kudos
Great content. To all people who want to be keyboard warriors, thanks for totally missing the point. Yeah let's fight to oblivion on party lines.
He could not bring himself up to appreciate what the current government is doing. A lot of what you’re saying is already very well known he has not offered any concrete solutions for example in service sector. the value addition terms to do that, but it’s the education market that is taking the initiative. Granted in many cases started like a cottage in industry. Now they are getting more formalized, and the quality of those such trainings are improving. I think as smart as he is, he need to be more harnessed, to himself and put his personal prejudice aside. Sometimes sound like the unnecessarily strict south Indian father who can never come around to appreciate what the kid has done, but always about, where is the missing one mark.
Debt to GDP IS 80% IS LIKE ICU
In india, government don't worry abt people, but worry abt caste and hindi Muslims problem, 75 years old Nehru news
Why were loans written off??????
How much in Corporate Loans was not recovered???? Did they pay tax on loans which have now become free income for corporates!!?????
Paisa waapas lena padega...😡♨️❌🔥🛑🛑🛑❌. 23-12-2024
Somewhat different tone from Prof. Rajan in this interview
All the CEOs on Wall Street in 2008 barring one was from the Shylock tribe.
I do not see reghuram rajan as sensible natural economist. He is person with academic degree in the subject economics along with media exaggeration.
The interview starts by the question that "whether he thinks his term is underappreciated" 😂 set the terms of the interview.
Chest thumping is needed for politicians to win elections. Economists can advise them only if elections are won. If Rahul had won Rajan would have been in Delhi. That is the reality check.
Only those who can have deep relationship with govt will invest in india. Due to this corruption
It’s so easy to say what should be done without telling how. When most of the money goes in all freebie nation will take forever to develop. No money to invest for the future. Farmers want MSP on things they grow which no one wants to buy. Carb consumption made our nation diabetic capital. If you are voting for free stuff I don’t blame politicians or political parties. As they say we get what we deserve. India will develop but it will be very very slow.
I think he need some employment programme, if Khangress comes in the Government.
What is required is simply this - based on Aadhar PAN linkage, Govt should determine individuals having financial and real assets worth more than say, 10 crores and tax them for their wealth at the rate of say 0.5% onwards going up to may 2% per year, in addition to the income tax.
This tax is required as rich do avoid Income Tax and also black money in real estate is not trapped otherwise. All this possible through system and no one need to file any return but just pay as per the recorded valuations. This will have effect of a good feel that rich are taxed and they contribute for the society in line with their wealth.
The issue is not whether how many pay it or does it achieve any lofty objective but a message to all that rich need not be hated and rich contribute to society in one more way through wealth tax.
So a few hundreds like Ambanis, Adanis, Murthy, Nilenkani, Mittals to Ashnil Grover etc will pay a few hundred crores and that is not a bad deal. Besides, as they are few in numbers, they are not even anyone's vote bank!!! In fact, being friends with them is a big political headache, as Modi is facing it !!
FIrst Tax Modani..before you start taxing the salaried rich more..the taxes that Modani evades will be 1% of our GDP
@@counterpoint9260 I am saying tax every rich person in this country. 10 crore and above is a super rich category anyway. They will not mind.
@@surendrabarsode8959 the richer they are, the better they are in evading taxes..solution is to formalize the economy and INCREASE tax base..why are still only 2-3% only paying taxes? Govt has miserably failed to create more jobs n formal sector..private investments are down and not picking up
Taxing income is always better. Problem is I know few folks who are really damn rich, multiple crores in annual income but they use very clever tactics to escape paying much lesser taxes than they owe.
Our system need to be better at identifying business income first, with some degree of accuracy. That's the basic thing which we are failing at.
@@ankushmukherjee3219 Taxing income is a must but in addition, wealth tax as proposed above, is required.
Mind is Grey
Covid Analysis was Pathetic by Ex RBI Governor Should be Asked The Question 😮
he is talking decentralization again and again. if the states are not doing, what can central govt do
RRR fancies his chances high again after Bangladesh!
How is India still running? It's a hell hole and I have not seen a more chaotic place.
go away ab dull
Abdul chacha apna real id se aao johnson name se nahi😁
It's running because there is a method to our madness 😊
We have the talent, but it's just un organised
A broken clock is right twice in a day 😅😂 Raghu ram Rajan
😂😂I am happy atleast Rajan is nit extremism left economist he moderate leftist
Some of it is BS! He says design Chip first, import chips from everywhere now. He said we don’t need to manufacture Chips right now. Full BS! PM cannot do that nor his govt. private companies have to do that. Designing chips is far fetched effort. Can’t wait till then. Only 2-4 companies can do that. Apple doesn’t do it either. Govt is correct with starting low end chip manufacturing
Finally Print is interviewing a proper economist, instead of sadak-chhap BJP agents like Shamika Ravi and Sanjeev Sanyal, who will all go to Jail after Rahul Gandhi becomes PM.
Can't wait for Mr Rajan to return to India and become finance minister in 2029. Hope RSS doesn't ruin the economy completely by that time.
Software update 🤨
He is Khangressi
Brij Bushan & Prajval Revanna & Ajit Pawar are part of BJP
@@mg.f.9023 Wow! That was too much for this idiot to handle. Lets see if this shameless burden on earth is able to get his tongue back
Stop it dude...
A governor who did not know how to govern
Karanatakaindinbolck
Honestly dont understand his problem
Rajan is Con gressman.
Brij Bushan, Prajval Revanna, Ajit Pawar are part of BJP.
What a joke this man is...he became irrelevant when it became clear that he had used ncorrect data for his book..... why give him oxygen of publicity??
I scratch your back, you scratch mine.
Scion bhakth 😂
Top economist it's a joke
Q. In hot metropolitanzk. 🔥 A letter arrives from Lucknow IIT for a Vacant Kiosky.DIY. for UN vehicle FR CS FI CS. Aha.
Raghuram Rajan sees nothing positive in Bharat economy except RG & congress
करेक्ट
I hope atleast you see something positive. how much tax have you paid this year?
@@FrictionBearingsCheck first whether is he even eligible to pay tax or have a job
👍
Only lecturing is what he can do.
Our Cheap economist Gobhiji is busy digging with und shund bhakt!😂