Majoritarian helps win elections but will send India down a dark, uncertain path: Raghuram Rajan
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- เผยแพร่เมื่อ 9 ก.ค. 2024
- #ThePrintUnCut
During his OP Jindal lecture at Brown University, Former RBI governor Raghuram Rajan talked about how the Indian economy has been swinging from crisis to crisis due to sector stress, the disorganised financial sector, worrying fiscal deficit figures and a combination of other factors. He also criticised the Modi government's centralised and populist decision-making which has not only failed to deliver on economic reforms and revitalise growth, but also poses a threat to Indian democracy and liberalisation.
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This was an amazing video and exchange of insight.
while the economists cry over the falling nation
BJP: "Don't go in maths those maths never helped einstein discover gravity"
"Millenials to be blamed for this"
"ram lived 9 lakh years ago in Ayodhya"( just so they know neanderthal were 4.3 lakh yrs ago)
"Cows give and take Oxygen"
"HAM BOLETO BOLE KYA, KARE TO KARE KYA"
"WHA MODI JI WHA"
All the politicians are on the same page 😂😂😂
@@sujoyghosh5491 exactly man, these andh bhakts don't get it, I just dare you to say "poverty and hunger is killing people" you'll hear " bsdk Siachen me hamare javan ladrahehe"
@prakash n do you even know what was nyay scheme? What it intended to do? And learn good English.
@@sujoyghosh5491 bro do you know democracy work?
Sujoy Ghosh Whilst MMC Mr Moan Sing carried out orders of Madame and her chor family for their family benefit the chai walla has exposed them all Chai walla is going to be there for long time and Good thing is they have Amit Shah and so MANY young politicians in pipe line BJP WILL BE ONLY PARTY as opposition will all gone in Tihar chakki pissing
So many journalists are unemployable, politicians jumping ship, corrupt civil servants retired ex finance minister in jail it is called swatch Bharat Abhiyan
Soon to be followed by khangess Vadra Family There is still unfinished business in Kashmir with corrupt politicians occupying Gov properties
The army was run down so badly that we did not have money to buy bullets so many scams and middlemen
Look at now at our army being equipped with best equipment
Modiji is responsible for current state of Pakistan he went there to PM house but 🇵🇰 PM could not reciprocate and when he came back Modi has adapted the policy that he has now big change from Khangress days
What happened to all the opposition who stood against Modi they are all divided and gone all quite all upto their neck with corruption
No body is paying any attention to these liberandos
we will visit the same video again after 5 years when you see india in down turn...
Falling Indian economy needs you back sir . It was only you who saved Indian economy from the deadly effect of 2008 recession .
ROFL:) Y. Venugopal Reddy was in office 2003-2008 followed by D. Subbarao 2008-2013 and global recession happened in 2008. How can Raghuram who was in office from 2013-2016 responsible for the way India escaped from global recession?
Mr Raghu I read Ur book The Third Pillar... and after reading that I am more clear about reasons why Modi Govt not gone along with you... ^_^
You know much less about India than you know about Romans... 9_^
Thats always been an Issue.
Well Modi has to make a country which is Investment friendly and should safegaurd companies.
Modi is always on rally mode, which is wrong. But on a very honest note we have no options.
But itd hightime for BJP to perform.
I totally understand world economy is not good. But we should try and try. Thats all I can say as off now.
Raghuram deserves to be the next PM of India. Only he can save India.
People who are talking against his views (may be he is taking political views into his presentation) , remember that members of EU also laughed at him when he predicted sub-prime crisis one year earlier in 2007. [Note- no hate comments please]
He is not eternal he can be wrong. He was rbi governor still many shady work was going on in different banks and nbfc. He failed in predicting present nbfc and banking mayhem of which he might be responsibile
@@Mr.k00_2 That is utter bullshit. A list of shady deals was shared with the parliamentary board long before he left the office. Everyone in the political sphere knew what was going around. The only issue was that it had a conflict of interest with the ruling BJP.
@@Mr.k00_2 Can government publish the list of wilful defaulters given by him, he was the guy who started banking reforms, so that giving loans to people who is not capable of paying back does not get. Modi himself shot on economy by demonetisation and implementing hasty gst.
@@anirudh_dh even I didn't got the purpose of demonetisation , only time will tell. As far as gst is concerned we are a country with more informal and parallel economy, so maintaining invoice and tax evasion is two problem for gst implementation. It will take time
@@Mr.k00_2 You don't need to kill their business bcs they are in informal sector, bcs it hits most to the people who are at bottom of pyramid, could have been adopted some middle path. We don't need to wait for more yrs to see the effects of demonetisation, as MMS said gdp will fall by 2 to 3 % people made fun of him including myself but now i have realized you need to have vision for economy not what Public wants.
Excellent lecture with detail study of India’s economics and politics.. people are blaming him for the NPA issue but one has to understand the situation through which Indian and global economy was going. Also NPA issue is not the only reason Indian economy’s current state. The crisis started after 2016 and it is a man made crisis. Till 2016, even under Modi I, GDP was growing around 9%.
A true economist and the people who understands economy will not talk about majority and all.They will focus more on inflation and gdp...
He's telling the fact as it reflect the economy
vakum Raghuramji please come back and save the country from the rowdies
What a true PM will do when economy slows down
As the topic is political economy, so yes he can. For your better clarity, majoritarianism => more centralised institutions => tied hands of bearucrates who execute => bad governance of plans. Connect it in economic institutions.
Rajan, come back. 🇮🇳 miss you! We need waay more people like you here. Such a smooth presenter and master economist.
A person born in India having studied at a highly subsidized institution like IIT and IIM later made a RBI Governor under whose nose the advances to Industries rose from 18 lakh crores in 2008 to 54 lakh crores as on March 2014.Most were ever greening of loans which have now become NPA. Why did he approved dubious 80:20 Gold Scheme.who was benefited? Had this been done in USA he would have been punished like Rajat Mehatha.
Economic policy n majoritarian can be a different concepts but mixing it is to spew his political agenda. There can be reasons n solutions which do not attack political aspect as the only reason.
Pankaj why
Elected (political) parties form policies based on their political agenda. A critical analysis of those polices requires critiquing those agendas. A critique just on the policy is incomplete and lacks context. If you want more quantitative discussion rather than theoretical critique, I refer you the the Abhijit Banerjee video, who follows next.
When has economic policy been decoupled from political decisions ? Are you serious or just obtuse ?
@@slayered666 firstly I said it as a possibility n not absolute. Secondly u r statement runs the risk of this logic"as he is opposing the policy it means he is opposing the govt n its political ideas hence it can be as he didnt like the govt so he is opposing the policy."
@@tirumaleshmani8618 Okay that's clear, you really are being Obtuse. Because if anything RR here is not "spewing" anything. He is being pretty balanced and has taken examples of multiple governments. It is only natural that present government is under more scrutiny - that is the nature of short run economic discourse. What should he do ? only blame UPA and not mention glaring issue of this government. I am sure you would have preferred that convenience.
1:00:30 "Economic adversity is a terrible thing to waste" - what a profound statement.! A similar statement he made earlier in this speech was "Stress is always an opportunity for change".
I hope he keeps speaking his mind and we pick up some of those gems to implement in India, if not government, at least small businesses.
Although a long video, worth the time. In fact, I recommend that no one misses any part of it. Saw in one sitting, like how you see a movie! I want him back in any position working for India.
I would reword his statement to say "Political adversity is a terrible thing" as also "we wasted an opportunity and hope to get him back again".
True - that was really great
6:25 BJP wanted more centralization as opposed to anything that has to do with liberalization. So it was always ominous.
Please upload the first part also. It will be a great help. Thanks a lot in advance.
Dear print
this 2nd part of speech where is 1st part video??
th-cam.com/video/06uhetn_P5M/w-d-xo.html . Primary copy from Brown University's channel
@@harshitaggarwal8992 thank you
Why do people thnk the those opposing bjp are congressis or for tht mattr any opposition wala... cant everyone has their own sense of judgemnt and opinions...ones opinion may finds resonance with the opinions of congress but tht doesnt mean one becomes responsible for the actions of congress ... coz when congress was in power thn also there were these opinions.... are people following modi today ha surrendered their entire sense of judgment and arguments into one man or one party... its is ones right to follow and appreciate anyone and any party but tht doesnt mean u surrender becoz people talking here are not representatives of these parties ... we are common citizens who votes these parties ... we differ and we chose someone else and tht why parties change aftr every 5/10 /20 yrs .... but saying tht congress hi bewkoof thi and still entire country was voting them for the last 50 odd years and now everyone and bcome very smart ... the thing is people ate still the same , still the same emotions and party lines , still the same issues and evrythng .. but the parties have become smart.... if u hate congress and u are on you tube or facebook ur behaviors analytics will provide u more n more content to hate it more till the time u become stupid and ur entire sense if judgement is gone... same with thise hating bjp will get othrwise and people start hating bjp for everythng.... thts where we stop questioning these parties and start fighting among ourselves on frivolous issues... and these parties kind of njy such things....
Excellent point
agreed
I second him...I think this government is making economy a serious issue for the citizens...though I support them in other stances they have taken...but sorry they couldn't handle the economy like Manmohan singh handled
spandan sinha compared to other world economies where is Bharat try to keep the perspective where how leading economy is doing
He don't care about india he is us citizen my friend we will take care of ourself
Yes Manmohan shing took India to world's fragile 5 economy.
@@praneetpranshu5253 my friend he has been a governor dont just dismantle him like that have some respect for him he is way more bigger than you and me
Sure, the Indian real estate owners in Europe like Damad Sri and Kartik are seeing the dark times.
BJP ko dho dala 🤣
Jab 1 hai toh 17 ko kaun phaaadh raha hai ...jitni sadak ho utna hi Chalo ..... respect is at 1. proove yourself & proove for my family Virna to Atul
Moto of this government
"Aag lagao aur bhago"
Koi kuch question kare to bolo Bharat mata ki jai
Motto of haters : Ghar me bacha bhi paida ho jaye, to iske liye modi sarkar jimmedar hai. 😂😂
@@vishnurayden4256 dhyan se kahin Modiji ka Vikas tumhare ghar paida na ho jaye 😂😂😂
@@skthecrusher hehe Nahi bhai humne vote diya hai aur tumne tumhari gaand. Hamare vote ka number bada ho gaya aur tum logo ki gaand ka ched bhi 😂😂😂
Teri jamanat jabt. Modi IT cell ne tera reply dekh liya h
@@rahulchaudhary2093 pappu ke IT group ko kya bulate ho? Chota bheem fan club ?? 😂😂
Thank You @ThePrint i was looking for this lecture. Can u upload Arvind Subramaniam's lecture as well.
He is sharpening his critique ... Seeing him directly hit where it hurts Modi on his performance.
How about The Print arranges a debate between Rajan and Subramanian swamy. Should be very interesting. But will Rajan agree? I am sure Swamy will certainly agree.
I hope the government listen to it...
Surprised to hear that abolition of triple talaq is a majoritarian move. It was Supreme Court which found the practise unjust (not once but twice) and asked parliament to enact a law to eradicate it.
31:56
Although the content is good, the power point slide template is from the 90s. Gotta update that software suite.
Don't fix what ain't broken
I think the content within a slide is far more important than the slide making software
what worries me is a serious lack of sense of humor. Gotta take a chill pill. 😹
Around 9:20 Rajan's nemesis, tormentor, and fellow economist Subramanian Swamy essentially said the same thing...
Rajan should say..."...Dr Swamy we need to talk..." ...
...in Hollywood style
Modi govt should listen and think over it...does not mean he would b right in everything but do listen to him..................please listen to people.....stop playing around with peoples lives for ur ego
@suresh VRG They practice communism. They take land if they want to build highways and don't even provide compensation. Do you want government to take your land? Do you want government to control your internet access? Do you want government to personally recognise you on streets through a network of cameras?
Go read a book.
@suresh VRG China has communist government. They don't have elections. People don't have a voice in their government...
In majoritarianism democracy, a majority of people elect a government who only appease those section of population.
Read en.wikipedia.org/wiki/Majoritarianism
They (Chinese) are also oppressive, they have policies (that I described above) because they cannot be voted out of the government as in a democracy.
Some state governments like AP & Telangana intentionally screwing local economy by holding on natural resources , because various political reasons against central government. Fall of growth rate in AP is influencing overall India’s GSDP.
What is the future of Indian banks? Is our money/investment secure there? Can RBI issue a statement that there is no need to fear? Every Indian citizen is extremely worried about putting their hard-earned money in banks or investing in various banking schemes right now.
Thank you for sharing. A wide range of subjects discussed with practical solutions.
Government must press ahead with disinvestment,reduce income tax rate,revise labour laws,make it easier to acquire land,eliminate import tariffs,only modi can do it
Lol he just did the opposite
Modi is busy in marketing himself and their immoral ideology !
He should be made FM or at least Congress president
Sir. You suggest decentralizing. But how to control corruption which arises from it?
Centralisation also increases corruption and concentrates it. Building watchdogs and investigative institutions and granting them independence. We all know CBI while a great institution is still under governments pockets.
I liked his confession on the honest governance of modi...... In all these years he could not bring a single change in India and now he is talking about all the things he could have tried....... These English speaking elites take Indians for fools
Please read about his contributions first. Just because you don't know it it doesn't mean it didn't happen...
Aren't you (writing) speaking English here?
@@rpai7534 being in the highest level of governance in India , being a professor in some big universities or big institutions like imf don't endorse his credentials...... Results must be empirical not theoretical..... Someone who resides in India and understands India can solve its problems..... Not someone who pretends to be one of is
@@Physics604 So did you try finding out what he did when he was in RBI? What was he trying to do? What he actually accomplished. I'm asking you to find the empirical data on his work before you judge his or anyone else's contribution....
His one presentation is equlant to reading 100 editorials. So insightful.
good
I was thinking the present government is so far the best. But the evil effect is showing. Economic is in bad shape. First Nirmala madam should step down as finance and give the post to capable person like Subramanian. Or this may be the downfall for the present government
I pray that Rajan becomes PM and clear all the mess that's happening now.
The solution to majoritarianism is George Sorus. How many Indians and people with indian names promote his dubious cause.
And for how many pieces of silver ??
One doesn't have to believe in the Theory of Karma in order to bear the consequences.
27:40 best lines❤
The economics genius.
Despite all the drawbacks Raghu pointed out herr Modi govt came back with even greater numbers shows how bad it was for common man during UPA 1 and 2. As a congress supporter Raghu should introspect on that.
No. The current government reflects our choice of a certain leader over a party. In the current election we never selected a government based on policies or economic revival. So while Modi makes a comeback with his centralised policies, his cabinet is empty of efficient decision makers. Look at the state of our current ministers - do you think Nirmala Seethraman is competent to handle an economy when she has absolutely no clue what she is doing in the first place. Just making a comeback isn't good enough if you don't have resources of policy measures to sustain a government. (P.S : This is no personal vendetta against Ms. Seetharam just what plain observation says)
@@dhirachakraborty9696 i agree, sitharaman is not a fit choice, I am no expert or such, but i sense it the day she was alloted the ministry. I have no doubt she will learn and will be good at it in time, but the thing is, Indian economy doesnt have the time for her to learn how to do it. I think what Modi thought was Sitharaman would be a good student to Arun Jeitley and Modi was hoping Jeitley will give his inputs and effectively run the ministry. But then..... RIP Arun Jeitley. He was not the best FM but much better than she.
31:46
"...any large significant economy is also democratic...?"
CHINA ?
Too hypothetical...
experience good example ఏక్సలెంట్
@Quint good work. Rags as an economist is great. But he had three years to perform. I understand three years is less but I some how feel he hates BJP. His political view and his job is making him not a suitable for the Job.
Again I support Modi but he should have saved Jet and PMC bank issue.
You need to ask why his term was not exetended? Was this because he dissented with the government on demonetisation. If you really want to read about his reforms in RBI you can find a lot on the Internet (around 2014-15). To name just a few, He single handedly brought down inflation to a historic low within 2 years. Not to mention a record increase in foreign exchange.
So he has done a lot of reforms, you just don't know about it.
@@rpai7534 :) he could have done better. If he was not happy with his job, he should have left.
He should have been sacked earlier. His works? Inflation and forex ? Good work.
But still a disaster.
@@chiragmoily5802 "could have done better". Yes but sadly RBI Chief doesn't have enough power to disagree with the government otherwise he could.
Can you list achievements of a similar scale for the next 2 RBI chiefs? :D
Although Urjit Patel didn't specify reasons for leaving, it is well known that he also disagreed with government. Many of his disagreements lined with Raghu So I think it is clear to me that government is more at fault (actually RBI isn't independent enough).
He didn't have any problem with the job, but with the government's abuse of RBI. Just because he opposed government policies, doesn't make has economics bad.
@@rpai7534 If it was easy for all to get along.
Jaitley was a disaster. :/ Ways It was nice talking to you. Have a great one.
@@chiragmoily5802 We can all hope ! :)
Nice talking to you too.
Have a great one yourself!
Thank you Dr, Professor & ex-governor.
It's a delight to hear you, the way you build a point.
Thank you "The Print" for this video, otherwise people will start believing in the trash of mediocre morons also known by the name of Arnab Goswami, Bhupendra Chaubey etc..
You should also think why a majority is voting one party.. When a majority pepole think he is minority in his own country ex Kashmiri pandit the the communal violence bill which not passed by Parliament.. In 91 the socialism economic came to fail.. The so called economic inculcate called the hindu growth rate...
Majority is wrong most of the time bro..
CORRUPT RAN AWAY,SHLD BE IN TIHAR ,TO TEACH ECONOMICS
Dr Apoorv Arora CH*TIYA
Dr. Lagane se log educated nahi ho jaate...
Congress narrative....why is he confined to India alone as being in dismay while all over the world the scenario is not different and in free economy you shine or perish based on market Dynamics
Chup bewkoof gadha
Like Amit Shah who is a convicted Criminal tadipar or Zee news anchor who has spent time in Tihar in reality
majoritarian? what is that? democracy with a bad smell? leads to a dark, uncertain path in which the rich must pay taxes?
Every major decision has plus and negative effects. Slowdown is not only in India but all over the world because of factors far beyond controls of India or Indians. The purpose and impact of note ban was/is far beyond economical or financial metrics, it gave a strong morale boost to a nation which was looted savagely by inflation and corruption from last 8 years. No disrespect to Rajan sir but standing in US university and throwing words like "Democracy" does not convey the real picture of nation / society where every decision is based on person's caste / religion or language.
If stability is unimportant, then will chaos bring change. logic of a failed chief of RBI Guv very glaring (as the title suggests)
In every chaos there is a cosmos; in every disorder there is a secret order
@@dcluterr960 we also studied Entropy in Physics....
And this is beginning of social media induced intolerance. The biggest weapon at the hands of our current government is polarising using social media, so much so that we can't tolerate an educated economist making his point without blatantly tagging him as "Failed". Do you realise what implications your words "Failed chief of RBI Guv" has ? What if you were written about like that. Honestly people really need look at how they put forward their views without denigrating others.
@@dhirachakraborty9696 Well you have answered intolerance by the reply itself, give a little thought if you happen to fight with your brother/sister or parents on an issue you don't sought that out in the public park or nearest club house, you do it your bedroom or living room. The point by Ganesh and most others is as simple there is problem , economy IS on slowdown a lot of experts have cited this as cyclical,some due to the on going issue between china and US, it is a matter putting things correctly. But to bad mouth popularly elected democratic Govt that too on a world stage will draw some ire. You have so easily stated it as intolerance this word itself is coined in the last 5-6 yrs (dont tell me it was in oxford dictionary since its inception, I too know that). I too have read Mr Rajan's books albeit with less understanding being from non 'Economics' back ground, I too hold him in reasonable esteem but not when one is implementing someones paid agenda of bad mouthing an entire nation and its policy. Monumental and structural reforms in a 1.4 billion population country is likely to fail and succeed both. Some people have said why don't we test in small population good point, but even the most well build Software's fail after rigorous testing in LIVE environment. Govt I am sure must be doing its set of data analysis before implementing but as I said failures are part of the game. Be happy that something is being attempted rather that being in a state of policy paralysis. In spite of these failures and drawing abuse from public a vast majority says its populist measures. Who is intolerant think it over ?? Certainly not for fight and am no genius to answer all questions. Thanks
@ratheeshchemmala : With all due respect to the history of the word intolerance, I believe you don't understand my comment which directed at our need to brand everyone as failed. Definitely not someone who has held such a long record in being an important economic advisory.
The above doesn't mean I am favouring Mr. Rajan however I do believe at this particular lecture he definitely goes all out at the maleficence of our current authoritarian government - but I don't disagree with him at all. It is unfortunately a glowering and glaring reality. Whether you coin it as " bad mouthing a popularly elected democracy" doesn't deem fit in the given scenario. Quoting Fareed Zakaria's "Illiberal Democracy". That is a reality with the current government and our Nation. I wouldn't make the harsh statement of pointing which reforms were wrong or right since there are too many complicated factors that play out in policy making for a nation. But the problem was, is and remains to this day - compulsive centralization which is something being spoken about by the entire world.
Why I agree Mr. Rajan probably didn't turn the tables around during his tenure but he isn't entirely wrong from the economic standpoint. And it really isn't as much of an economic crisis as it is about compromising Democracy and governance. I would be more worried about the latter though, something I most definitely agree with on Abhijit Banerjee.
Also, I am not sure I would brand myself intolerable simply because I definitely make a more careful choice of words including "social media induced intolerance" than Mr. Ganesh.
But then again this argument can go on forever. All I point out is before we label some as failed, we probably need to look up at other failed people who are being celebrated inspite of bad mouthing and failing in public. (I don't wish to indulge in name-calling, hence no names shall be cited).
No wonder it will
To the print please put small bytes of these conversation. In these busy times no one can spare an hour especially PM. LoL. No wonder he sacked Rajan and now his cronies tell him what he wants to listen.
RBI is still cleaning the mess created by UPA 2 ,Rajan could have done better in power, instead giving lecture ,he is clearly frustrated and not able to digest the way he was terminated from Governor post.
If you clearly see the lecture , you will realise he criticises Cong more than BJP
What was the performance of RR as a RBI governor? He did nothing but increasing interest rate and keeping quite on NPA piling. What was the impact of his arrogance on India's economy?
You ignorant fuck! He was the one who brought to light the npa crisis.
@@apoorv5618 he fucked up ... High inflation high interest rate high NPA
But the people give deaf ears to real suggestions, because in India not backing good politicians but backing religion Hinduism.
Glen really what do you mean.china defied typical bourgeois narrative and prospered Raghurajan is a tool of philosophical British empiricism
and yes of bourgeois macroeconomics. He has caved in .
@@arunjetli7909 you can't understand what I mean and I can't understand what you're trying to say.
Glen Jeremiah India backin happens nudism Wharton’s dies that mean it means that this fellow is out to lunch What is Hinduism?
This is lousy way to state that you want to pin everythng on Indian narrative they used to call it Hindu rate of growth in He old days to prove that Hinduism sucks, in fact it was the Stalinist model that India used . What do you know about Hinduism?
This is a political speech on philosophy given by an incompetent philosopher Thank God that he is not the man responsible for Indian economics you attack people ad homeniem without going veg reasons just by labeling them . This kind of garbage is normal in the west and the west aping Indians
This guy has shown only one salient feature that being that India should get more decentralized but even there he ignores the role of Central planning that made China great. His lecture us a propaganda tool of the outgoing congress party void of even the slightest understanding either of Marx or of Sanatan philosophy
@@arunjetli7909 you are not aware Modi in his campaign clearly said Hindus are 85% and in majority and on that grounds people voted fearing more than having faith and belief in Hinduism, that's why votes went to BJP and not for PM Modi. Other countries always said India and Hindus are the most Tolerance people.
If congress and other political parties were nationalist , we may not need BJP so much and we could mix and match. Other parties in India are pathetic, they are neither good at this nor good at that. At least BJP is good in nationalism, foreign affairs, national security etc Economic has been a problem for them and some of what Rajan says is true regarding centralization etc. During MMS era, everybody was running their shop and he had no control on anything. Now at least we don't hear of corruption at ministerial, CM level and that can be thousands of crores of rupees. But then we have to put with Jai Shah. This is what happesn with 3rd world, you never win, YOu go in circles.
He seems to be advocating for India to adopt a democracy with Indian characteristics. A counterpoint to China's socialism with Chinese characteristics?
Sorry bro India is not in democracy right now it is working as a Fascist government
@@junaidkhan-vz5br Ochlocracy or mob rule is still a form of democracy. To counter this, most democracies make up laws to protect the rights of minorities. I am guessing you are implying India is lacking these laws.
@@khai-yuenloh669 India don't want to make these law like recently Indian home minister said that there is no need to implement a new law which can prevent mob lynching
@@junaidkhan-vz5br yes Muslim are lynching people in the name of Muhammad... Kamlesh tiwari and murshidabad incident are latest example... Also Muhammad was a madman
He may criticise gov decision but how not winning elections with good margine is good for economy. he is not stupid but may not be honest in his opinion
If you watched his full video, he accepted that. This the the main subject of this speech. Just winning elections with good margin won't improve the economy of India.
I am great fan of ragu Ram sir
Tell Congress party not to play appeasement politics.
Jai hind
I am elated !! Rajan seems to be betting too much on our MINISTERS ?
Does he seriously believe that that is the problem ?
Why isn’t he the governor of RBI or finance minister?
He was :3 governor of RBI ....
She graduated in BA economics not just arts. I don't support her but plz have facts right
He is one of the most mathematically inclined economists in the world. His policy suggestions come from rigorous mathematical models, not personal opinions.
@@shantanushekharsjunerft9783 This raghuram rajan is theoretical economist. None of his ideas worked as governor. His reign saw double digit inflation rates and best he could do was 7%., current inflation rate is only 3%. He and chidambaram gave loans to their besties and cause this NPA cycle which is troubling the economy now.
@@sandeeprana-yo3wm yes :3 ..keep on blaming ;3 .. it's almost 6years bjp's rule ..😑😑😑
He is not eternal he can be wrong. He was rbi governor still many shady work was going on in different banks and nbfc. He failed in predicting present nbfc and banking mayhem of which he might be responsibile.
around 26:00
"....if we are not a democracy many of our traditional friends would be worried.."
What are you insinuating at then ? ...perhaps those " traditional friends" are busy admiring the wonderful democracy they put in Iraq and Afghanistan !
Paints a very bleak picture..without basis ! There are problem here..but Latin American model is too far fetched a comparison is...anyway its all hypothetical;
I think living outside of India, this guy has forgotten who he's talking about.
We are Indians. The worst global slowdowns have not affected us much.
We believe in honestly working hard and the output of our hard and honest work is the growth. We have come out of the most impossible challenges because we are more clever than the rest of the world.
What other countries have achieved in more than 200 years, we have achieved in just little more than 20 years. And only people of India get credit for this. Not congress, not BJP.
To all Indians : let's work hard, honestly and cleverly. Let's show these foreigners what we are made of and what we can do.
muje to lagta hai ke govt sudhar ne ke sath sath logo ko govt girjati hai to kya ek sadharan insan ne kya karna chahiye ye sikhana chahiye!!
kya apni currency valued hongi ? agar se nai to fir aise kon konse board girjate hai
This guy was the head of the PSB when they were giving out big money like diwali sweets. The money was given to the people who really didn't had any growth and were family to the people in the cabinet and the same guy is talking about using money without growth. There is at least 10 lac caror Rs of NPAs on banks due to this person and he is rising questions on a scheme which is costing nearly some thousand carores
seriously . As far i know this guy is the only one who seriously took NPA seriously and wanted more reforms to bring down the NPA down. I think you are talking with out much research .
thewire.in/banking/raghuram-rajan-npa-parliamentary-committee-modi-government
He is head of RBI not PSU. Poor knowledge. Go and read basics before commenting some nonsense.
@@last_theorem but right now or just a year before his term was ending he become the big mouth and started taking of the policy failures...thats good...but he should have also done that when lacs of carores rs were given out. We kno indian babulog and politicians until there isn't any public pressure they want do anything.
@iGiggs #newtrend if you dont like a cogi you are a modi bhakt
This is not abt. Bjp or congress y dont we see a bigger picture folks.
demonitisation and GST broke India;s back .
This speech is purely political and I didn't expect it from person of your stature. This guy is commending Chindambaram in controlling fiscal deficit at @50:40. Why did you conveniently ignore splendid performance of NDA to reduce fiscal deficit and debt btw 2014-19?
This BJP not working for people with, they work for higher commissions and for 10 percentage of high end business men in India not having good sight or revival of economy may push to worst economy in history of India.
"harvard crooks" as rightly said by Subramaniam Swamy
His Old Master, The Thief Chidambaram is in Jail
27:44 very chilling remarks! Title worthy.
Yes what u said... it’s right but why ur speech always stands on one side ppl .... am not said they did good they not did good... why ... wen 2 year back GDP growth is fast comparing to decades u not given any statement about this ... today u giving list of this output... I am not support to any party...
Bhakts should not watch this video. I’m amazed that they watch a part of it and criticize him. They are happy with an authoritarian govt. so they are criticizing him even though he has better ideas. We should all be worried if the PMO takes the decisions without any basis. He has praised the Modi govt for several things, but he is advocating for non-centralizing govt. Modi govt. has not asserted itself against China. National security is also weak after Modi came to power. It’s just an agenda to gather votes, but it doesn’t help any of us. We have more problems now than earlier, terrorism hasn’t gone down. This fake propaganda of nationalism will take us all down.
Bhaiya bhakts
he spoke of balance. He mentioned in Modi govt the power is too centralized, but in previous govt of congress the power was too much decentralized. both are not good.
I will fall under bhakt category as per your definition but as you have rights to have your opinion so do the bhakhts have.
For me personally, supporting BJP is because of Dynastic opposition and the corruption they do. If congress remove dynasts from its top then I will have an option. congress have some real gem but no one other than dynasty will have real power. Even the PM in previous congress govt is known world wide as a puppet pm. The Forbes also listed Sonia in list of most powerful person instead of current then PM of India.
Next prime minister of India🇮🇳
Work with institution only help in india
One question to ask..is What Kind of Political Economy Model was Raghuram Rajan following when he was the CEA under the Congress.
What method??. If one follows the Dates of the Loans given to the Mallya's. Modi's and now PMC and DHFL etc.
Then it is the Method of LEND,LEND,LEND. Give me 50%,you keep 50%.
Bye bye banking norms. Only Norm is you have Political Clout.
Thats the Truth.
None of us will ever employ even a Housemaid if she says that her only Experience was Write on Housecleaning or Teach Jaddu Wadoo at the Nearby College.
So what the Heck are we guys doing??. Giving Control of our economies to Hot Air Dudes.
How ever good his English is.????.
Yes we gave him, we trusted him, he gave us Mallya and Nirav and probably 100's many who have not yet come to the surface.
I agree that Theory should precede Practicals.
But the Fact is that you should Pass in the Practicals to.
Thats Life.
So dear Readers, lets all tell this fellow Indian, Raghuram. We appreciate your Zeal and your Theories, but please pass the Practicals. Then we will make you a GOD... heck....dude..We are the Best in the World at That.
Foreign Investment into India has dried up. Pray , your Highness can you enlighten us from where you got your Data from??.
Since you will say that all data coming out of the Current BJP Government is false,, where did you get yours from ??
You will be doing us all Fellow Indians a god Turn , will you not by sharing us the source, so that we also can question the Government on its False Data.??
www.livemint.com/news/india/fdi-inflows-contract-for-the-first-time-in-6-years-1559070850501.html.
Above says, it is 1% in 2019.
harward vs hardwork.........its your choice.
@SAITAMA but you also have to apply for admission.
Shekhar: so clear that his views are biased based on his personal animosity ! Why have coverage of such people who want to derail the the key issues ?
Ummm because every opinion is an opinion. And his is a professional one. He doesn't need anyone to validate him.
What are the key issues in your opinion? Ram temple? Or 370 article? All these are man-made issues by Bjp to fool idiots like you.
When decision making is centralised Economic Hitmans become ineffective. Watch "Confessions of an Economic Hitman" on TH-cam
Demonatisation new pring cost of currency which is so rubbish in my opinion poor indian will face problem to give extra effort during transaction as currency 10 -100
20-2000 now new 20 just 10 rs
Is our govt examing our iQ 😜
If so they shd also gv that too
He is brilliant.
how do economists start sounding so good when they are not in power lol
Great Speech but very less substance. Vocabulary plays are important role in creating an impact but it cannot hit the intended target due to lack of potential content. This speech highlights his academic background and tilt.
He is very much unhappy that rich can't make money so easily like before. Let us invest more in farming, increase farmer's income and be world's food bowl, which any recession will never effect. Promote quality planned public education, health, better human resource planning, and make in India industrial revolution. Self sufficient country in every sense, we don't have to depend much on international market as there is enough population and demand within our country, just have to tweak the income tax slabs and manipulate people's purchasing power time to time.
are u an idiot cant you see bjp is working for corporates and amabani and adani who have 60% of the national earning why do you think jio has surged so high destroying BSNL dont you have eyes modi sold 6 airports to adani he is privatising railways he is selling 'navratans' of india to foreign and domestic captialist like aramco ambani RIL adani powers
@Siddhartha Choudhury true
@Siddhartha Choudhury 🤣🤣🤣🤣🤣
Rakesh ji ... You just enlighten me ..and gave me an orgasm .... " Aaaaahhhhhhh".... leh kha xD
As if India was glowing when he was given authority
Remember that minority appeasement all these years is the basic reason for majoritarianism
yeah.. thats what happened for 70 years.
I hope you do the right thing, that is, dig deeper into these things. Congress may have done many stupid things, but none as vile as what BJP and RSS are doing now.
@@rajs5819
That's a bold statement u have decided to make without giving examples to back it up.
Is it Raghuram‘s proposal that India straightaway withdraw the vote from its citizens and listen to whatever Rajan says? Clearly he’s not satisfied with democracy, which doesn’t yield results acceptable to him.
Yes. Majoritarian isn't always correct. If all of India started to think 1+1=3, does't mean elected government should accept that.
If you want to know more about some disastrous decisions by a Majoritarian government, you can find plenty in history.
Please! This is the specialty of pompous liberals. They always know better. If someone has touched the chord of hundreds of millions, then its not an accident.
@@pradeepkheruka810 No one said it was an accident. But the point stands, something is not correct if many people support it. There was a time people thought sun moves around the earth. Didn't make that true.
If someone always knows better, then no harm listening to them.
@@pradeepkheruka810 You are a total idiot. No matter how many chords one touches, it doesn't matter a whit. The economy is a different kettle of fish.
Harman Hundal this is another characteristic of so-called liberals, specially in India. Any person with a differing viewpoint is an idiot.
The first commentator says that anyone who says 1+1=3 isn’t correct. You gentlemen say strange things. Who on earth says that 1+1=3 is correct? Such disrespect for an opposing viewpoint?
The school which holds the present government responsible for the steep decline in the performance data blithely ignores the huge funds crunch caused by multiple collapses of lending institutions. Raghuram Rajan had failed miserably in enforcing oversight. There had been a pervading culture of treating lending institutions as the targets for mounting embezzlement schemes.
There was a huge amount of black money in circulation with widespread evasion of duties and taxes by businesses. The institution of GST has put paid to that. Banks insisting on KYC of beneficial owners of accounts has severely retarded wide spread evasion.
These reforms were an absolute must and go a long way in bringing probity in business.
It is undeniable that there’s a fall-out when illegal businesses have to close down.
My God University’s are independent .This I the biggest lie I was taught about at universities that India contributed nothing mathematicians from India don’t know about Bhaskara and Brahmagupta or others like Panini and others
I do agree that we need to liberalize he wants India to retreat into teaching the western calumnies
Maybe di strying to privatize and I agree with him on that I have a suggestion n to make India great
First thing to do is make him live in USA
Dr.Raghuram Rajan should shed the cloak of being an economist and become a political scientist or politician. The talk was more on polity than on economy. Full of thinly veiled praise for UPA Rule doesn't go down well considering that it a weak political co-alition, each partner of coalition puling in different direction, and refusing to acknowledge the superior rights of the prime minister. If it could be called decentralised democracy, it was also littered with scams, with the PM being a helpless bystander. The only suggestion worth considering was that the government should get out of all business especially banking business. It is not the government's business to run business.
His value is diminished because of mixing economics and politics. He could give perspective of what he should have done when he was RBI governor. I hate to have this guy talking always negative about India and given his stature people take it seriously. Also, stop talking about demonetization and GST. It’s done deal. Talk about future.
Yes sir .. we should talk about future .. perhaps you know better than him .. :) please enlighten me with your futuristic views :3
Yeah why talk about facts and analyze why the economy is slowing? Gotto listen to bhakts online to get our knowledge, amiright?
True,
The issue is make India a friendly place to invest.
GST should not be for everyone.
And save companies which are going down.
And hope for the best
@@randomstuff9092
Yes thats why people got sucked into Subprime crisis, and US economist could not predict it right?
Its an opinion not a solution.
And he was RBI Governor, wonder what happned there. :( Ways time for me to use cowdung as anti nuke shield. Mooooooo
And
@@chiragmoily5802 good morning :3 have a nice Friday :3
.very subtly your biasness are showing up dear Rajan..we badly deserve unbiased opinion and suggestions ..we all respect your knowledge.. so request you to stay unbiased, be objective about the problems and the probable solutions...these words like hindu economy..so much worry about your prev boss,.mr chidambaram etc..was not required here in this presentation..any subjectivity shall spoil the sport