Why I Quit Working With PM Modi - Dr.Raghuram Rajan
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This podcast was recorded on 30th January 2024 in The Ranveer Show Studio.
In this economics-special episode, we welcome Dr. Raghuram Rajan. He is the former governor of the Reserve Bank Of India and an Indian Economist. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund.
In this episode, we will talk about the basics of economics and break down the positives and negatives of the Indian Economy. We will talk about the role of the RBI governor and how he works towards the betterment of the country. We will also talk about the negatives of demonetization, the Indian education system, and employment in India. He also talks about how we can improve the employment of our country by simply improving the education system.
This was an in-depth conversation about economics with none other than the former RBI Governor Dr. Raghuram Rajan. I hope you will like this knowledge-packed conversation and do not forget to share your thoughts in the comments.
#raghuramrajan #rbigovernor
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TRS Clips is a collection of SHORT CLIPS from The Ranveer Show podcast. Enjoy our latest knowledge-fueled videos from the BeerBiceps team. Every conversation on #TheRanveerShow is intellectual, deep & progressive. We cover everyone from entrepreneurs to Bollywood film stars to even athletes.
Today, The Ranveer Show or TRS - Happiness Through Curiosity. A show where we host the world's greatest success stories and try digging out their secrets to success. Every conversation is an EXTREME learning experience for the viewer.
Pity he did not advise Manmohan Singh and Rahul Gandhi about these thoughts Just imagine how wonderful the education system would have been
🤣😂 So true.
@@fileload9806 then it's time to change your father's name and the politicians simultaneously.
@@fileload9806 therefore. Would Lodha or "load" be a title earned from IIM(A) or Harvard ?
It's time politicians are made to listen, including your pet.
A good idea would be for Rajan to debate Sanjeev Sanyal.
Pull in Dr. Su Swamy as they both have high ego, academic, and political bias.
They may get pally and come together basis feeling towards PM Modi or they may be a fierce bloody debate 😂.
Sanjeev Sanyal is too much of a Gentleman compared to his political astuteness.
Why do you want a debate between a politician and an economist
Yeah i hope there is a debate and may the best man win...
With all due respect to Mr. Rajan, he did not leave Modi government, Modi government left him. Because they found a better governor in Shaktikanta Das
Das babu was not his successor
@90sDude in which way? you could give with specific details
Governor Das assumed office on 2018, Rajan's tenure ended 2 years before that. In between there was another person named Urjit Patel for 2 years.
Ha! Ha!
He is not pro india, he systematically debased the rupee. He was sacked and asked to leave
As if though rupee won't get debased if he didn't😂😂😂
@@sujithkvarghese5616 Do you know what was the interest rate differential between Fed and RBI during his years? And where does the differential stand today?
Don't learn economics on WhatsApp.
@@rohanch07 you tell me and does the differential mean something
@@rohanch07 how much is the difference?
Useless demonetization had nothing to do with it? 😂😂
Why is he lying?
He himself said if that he would like to have his 2nd term in RBI but the government did not extend an offer.
We are a democracy. We should listen to both criticism and praise
@@reardelt And lies and not say anything?
This podcaster needs good education on politics
He is calling himself journalist now after becoming alien and ghost expert 😅
I hope, you are a economist and not a politician. Pl keep yourself to economics.
Very illuminating. Especially 1) How Fixed Deposit interest going down from 9-6 % reflects lower inflation. If inflation is high prices across all commodities increase and a 9% interest would fail to safeguard your savings a compared to 6%. So inflation reduction is way better than interest rates by banks.
2) Grass root level governance is a must. They know their issues not princely Chief Ministers sitting in capitals. Let there be audits to catch village level fraud too and punish them.
But he failed to explain that votes come from village grass root level and the henchmen of ruling party would immediately use goons and win elections there.
It will take ages for folks to realise the brilliance of Raghuram Rajan Sir.
Thank you for your service to the Nation Sir.
Yes, Doctor Saheb
Sycophancy & Filtered Advice is dangerous
Constant & Genuine Criticism Keeps A Perennial Checks On Mistakes & Disastrous Consequences
Unfortunately, 99% of the leaders don't like genuine criticism
But again if the criticism is narrow & "Duplicate", then its a problem
The podcaster needs to gather maturity at asking solid questions…times are changing TRS. Disruption is the key
The best thing to happen to Bharat and India is this guy quitting or getting sacked! The country has been prospering since then 🙏🏽🇮🇳
He was sacked. But he is lying 😂😂
He completed his term and left 😂..how was he sacked?😂 you really need to stop reading conspiracy theories
@@akshathmanikandan9732term extension he is talking about
This fellow was in bharat jodo yatra :)
Do you know that Mr. Rajan appeared with Rahul Gandhi in his 'yatra'? Of course Rajan is a anti modi. Are you kidding me?!
To the host...please do your research before inviting partisan "experts".
No sir...Dr. Rajan is not anti-modi...he does not have a personal enmity against the Prime Minister Modi...but what he really cares about is the idea of india that we care about...ask your own heart sir just for once...is making the minorities insecure and scared is that what Hinduism teaches...no sir absolutely not...I don't know from where the Prime minister is getting such ideas that islam is bad and Muslims are bad...and he is not at fault...he respects the hindu religion completely but making the minorities scared is not what Hinduism teaches...
His view is completely western. Complete misfit in Bharat
So he is looking for a job in India and not Bharat
Absolutely correct
@@fileload9806you couldn’t be more wrong. There is no North Indian or South Indian. We are all Indian. How is this relevant to appointment of RBI governor? This man here being neither North Indian or South Indian, yes I know he has origins from the south, but he is a West Indian, who will favor the west and not even India. He should be held responsible for his deliberate policies masked as an attempt to bring down inflation but ultimately debasing the Indian rupee
What is the concept of Bharat my dear Sir?
he was kicked because he was a stooge of the US government and congress party. He is not good for India
He was going to expose Modi's crimes so he was fired
Dr. Rajan is just uprightly righteous...
Exactly what the podcaster said about the extreme views on RRR
I still can't digest he was our RBI governor....
chicago school of economics lobby pawn
But Dr. Rajan is so humble sir...
He was the blue eyed boy of P. Chithambaram and withheld the bank clean up till the elections are over, not before, and the moment he realized it is going to be Modi govt, he declared that huge NPA accounts are hidden in banks and putting pressure on them. When he was the Governor of RBI, rate mechanism was decided by one man, the RBI Governor and he was reluctant to cut rates. Now it is decided by 6 experts (three from RBI and three from Finance Ministery). Sh. Rajan is not admitting that the Ayushman Bharat is a game changer for the rural poor and it was a scheme of the Centre. We have seen during Covid, that decentralization will not work. Sh. Modi Govt didn't renew his appointment when his three year term was over, not that he left on his own.
Dear respected sir, he was the one who introduced that system and brought in more people, the monetary policy committee
But sir during covid the centralization failed...5.3 million death count...so handling covid was a complete failure
@@MayankBharadwaja Western experts including the WHO estimated 5 million (50 lakh) deaths in India. The Centre could control it in just 5.3 lakh. Pl remember in USA with much smaller population 40 lakh people died.
I live in America ; university of Chicago where Mr. Rajan has been a professor is very well known to be a hot bed of anti- Hindu and anti- India faculty. Mr. Rajan happens to be their tool for this purpose.
He did not leave. He was thrown out 😂
not everyone gets continued on top chair
Don't be so impertinent sir....he is greatly revered...
What is bank cleanup? Who messed up?
After listening to him. I would like to say “Chal jhoota” 😅
Please bring current Governor or Y V Reddy Sir or Subbarao Sir, they are just best in their own class, this guy is just JUST
he was sacked and had made us fragile 5 economy with tons of NPA and now after he is gone we are better placed with top economy with projected to reach 3rd in coming years with almost no NPA and we have now a robust banking system when the whole world is in turmoil with not just wars but economic re-setting and every major economy is struggling with both supply chain and capital inflow not just in market but banking and finance as well.
Rajan was responsible for cleaning up the banking system. Watch Saurabh Mukherjee's talk "Future of India - The Winning Leap". These changes take time to show results.
Please check ur resources about non performing assets...no NPA is far from fact...I could have given u data about current NPA..pls read economic survey and budget
I only clicked on the link to read the comments :)
Ranveer shame you for promoting breaking India agents on your channel in the name of being neutral. This DMK guy literally spews venom against India in international schools and forums and you want to promote this guy. Shame on you!!
Ranveer is part of India society not Bharat society.
I can't put it better than this. "Raghuram Rajan is the most irrelevant man in India today. Pappu probably has higher common sense than this lunatic". Ranveer, in the strive to position yourself as a utilitarian please stop bringing people like him to your show. It's okay to take a side and have more relavant and sensible people on the show.
Respect to Ranveer and TRS for bringing in Dr RRR, bringing both sides.
He did not resign from job. But he did not get extension or second term.
Ranveer, educate yourself first before asking questions. His term got over hence he left his designation.
👍 "Anyone who wants only undiluted praise is bound to go off track"
~ This quote by RR should be made the headline of this video... And shown to "Andh Bhakts" when there is an economic downturn !!
I thought he was referring to himself
A very educated man trying his best very cunningly to bat for the opposition, but fails for every aware citizen. This is what I fear coz 5 years back though I was very educated but was economically and politically absolutely unaware would have absolutely fallen for this shit. Now since that is not the case and I am very economically and politically aware I know what his intentions are behind what he is saying and what he is trying here. That’s the fear. There are less than 10% people that aware politically and economically. So I know a lot of people viewing this will fall for his shit.
U are just talking on the air and not saying anything at all.give Ur critic don't talk like modi
He didn't quit, he was asked to leave asap😂
Rip people who think he is a leftist etc etc..He is as capitalist as a person can be..People are abusing him left right and centre saying he is a communist liberandu and what not..Read books or atleast take eco 101 online and you will understand what is economics..
He is a world renowned Economist.
He has accomplished a lot in his field.
He is so disciplined and well mannered.
He stood up to something wrong with the Modi government, and refused a term extension.
Is what the western Lobby (Big boss, their puppet master) wants you to think.
He is a failed economist, who says and does whatever the lobby tells him to.
His only accomplishment in life is predicting the 2008 crisis (Which he did after a lot of economists had already done so, and the crisis could've said to have already begun).
He raised interest rates multiple times in our country which shut down a lot of small and medium businesses and gave a part of the Pie to large foreign players.
His high interest rate policies also hurt the manufacturing sector, which was already facing tough competition.
He was turned down by Arun Jaitely for an extension and had to resign. Big boss gave him a PR Boost after this.
During the UPA government, which he supports, Rupee was made unstable and devalued significantly. From 35-38 Rs per $ to 68-70. Under Modi, whom he opposes, it has been far more stable, while still in decline, from 68, to now 83.
The amount of fake currency which revolved around during his tenure was simply absurd.
Approved Islamic banking for our system which was simply not compatible and had to be shut down.
Presided over the highest rates of inflation despite raising interest rates multiple times.
Repeatedly Got his predictions about our economy and our government policies wrong. Year after year.
He's like the Mohd Yunus for them, just waiting to be installed.
Just to be parachuted when they need him, after their other assets succeed. Using his image, the country can be mentally controlled (they can anyway buy the media support)
Kinda like Gandhi (as a parachute leader by foreign forces)
Kinda like Nehru (look at the list of blunders)
I should be granted bail for ranting this long, for the next time I drive over someone.
Hopefully Raghuram Rajan would be roaming around when I drive drunk.
RAGHU RAJAN SAID HIM SELF....PLS CLICK THE LINK BELOW
NOW HE IS SAYING HE QUIT THE JOB AND HE DIDN'T WANT TO DO WORK WITH PM MODI..
In an interview, he said there was no proposal from the government to continue beyond the first 3-year tenure which ended on September 4 last year.
It was not a loss for India - india is doing pretty well
Thank heavens you LEFT !!!! 😂
😂😂😅❤👍👍👏
😂 they thrashed him out
Thanks to God ,humans should not be always RIGHT.
Because of this comment I go viral 😂😂😂😂😂
USA through Obama told Modi to make him Governor again, Modi took this huge pressure and removed him. One can decipher why a foreign country's president wanted a person of their choice as head of our central bank.
He wanted to say modi in hundred places, but he skipped.
This guy should be in JAIL . He sat QUITE during the LOOT ! Now after Modiji govt is in power & he is telling him the NPA position . What was he doing ??
Wait till andh-bhakti takes this country down..a lot of damage has already been done
The best sentence- "we should not bring BHAKTI to politics"
Most of the comments below are of bhakts who themselves are impressed with the west but would wear a mask of "andh-bhakti.
Godi media was asked to spoil his image, and the ruler wants "undiluted praise" ...but his time will end soon.
He did not "leave", he was fired. Lies after lies lmao. Even Pinoccchio is ashamed of him now.
Rajan who has not even studied economics now has become a political scientist after learning from Pappu.
Rajan has not studied economics ?😅😅..Are you high?
@@akshaytakkar6747 Ok which university and which years takkaru?
@@harir3628 why should he study anything if a chai walla is his boss
@@rsreenivas694Why cant chai wala become PM when bar dancer can become Super PM?
I don't understand who is a bar dancer and what do you mean by super PM@@Komal_US
What a Joke !! Instead of saying he is incapable to work with hardworking, intelligent, effective and efficient Modi ji, He is saying he quit working with Modi. Rajan a Biggest Joker.
He is almost directly responsible for the huge mess in the banking industry which cost huge sums of money. And here he is, talking about "voluntarily" leaving, everyone knows he was kicked out.
He was kicked out by not renewing his contract …. 😂😂😂😂
Dear Raghu, you're indirectly resposible for the mismanagement of the Banking system during UPA government. You're just an ordinary man who was appointed as the Governor of RBI because of some reasons which USA and UPA know. Now you're not an economist but rather an ordinary person who supports Rahul -- you're like a Petroda
That is why people are called blind devotees who neither read nor get information about the ground reality and give knowledge like WhatsApp University. The information will be the same as you read.
Why do you get this character ????
This is how he was trained by his owner 😂😂😂
This person is saintly man...
Who told you to watch the video then, get lost
Simple words Working with Modi is not for weak brains or faint heart. And maybe he didn't have the ⚾⚾⚾
Let's see if Rajan ji can take criticism:
Timestamp 13:00 - Regarding decentralized approach of minister vs. Sarpanch taking responsibility for the village school, India since it's independence has followed the Panchayat Raj system. The ex. CEA talks about an ideal scenario where the local Sarpanch takes responsibility to build a good school and with his good work gets re-elected. What about a corrupt system where the Sarpanch eats away all the money, does not build a school and with all the money that he eats, he imposes on the village folks to get re-elected again? This has been happenning since last 75years. What is the point of advocating textbook scenarios when we clearly see that the method does not work. The PM is not shutting up the cabinet ministers, Gadkari picks and chooses where, what and when to speak which the PM does not control. Infact the criticism should have been about MMS being a remote control PM, who as a good person wanted to fix the problems but only ended up following high-command's orders.
The other thought is You went with Rahul on Yatra and politicized the issues. You wanted India not to focus on Manufacturing unlike China whereas Manufacturing only gives employment. when you were professional, you supported Mfg but when you were professional. Why you talk about PMO managing, focus on policy and not how they govern
No need of stooge like R Rajan. Congress need to be kicked out
Have to unfollow your channel if u bring such characters in your podcast…
Hes also leftist nowdays
Wow man your entire generation has become so self absorbed and narrow minded as to want to completely avoid anyone with any dissenting opinions whatsoever
@@IndiaAgainstSlaveryIAS anti national foreign stooges should always be avoided.
He’s on Rahul Gandhi’s payroll. What can be more humiliating?
He didn't quit. He was denied extension
It's a shame if he lost his job just for taking the counter view.
It's true that only the paranoid survive.
A person should always have a little self-doubt and introspection.
He lost job mainly because mess up due to hidden high NPA level during his tenure. Just the NPA level after he left.
Well, the comments are very eloquent and Self-explanatory... When he was around India was in fragile 5 and now India is in best 5! And secondly, as the proverb goes, Ceaser's wife should be beyond doubt. By dabbling in petty politics, he has diminished greatly his credibility . The writting is clear on the wall...
Which wall?
@@70newlife ha ha ha... Visible and invisible both...
😂😂😂what a thumb nail...he says he Left Modi...😂😂
Modi threw him out..😂😂😂😂
Comments tell your reality RRR 🃏🤡🃏
Academics are careful with their words, but here he is careless. He tried very hard to continue when his term ended. Even Pres Obama put in a strong word for him. Rajan is a green card holder, but his wife and 2 children are American citizens. How can India allow such a person to hold a highly sensitive post. Secondly, fake money from Pakistan was flooding India market, but RBI took no action because his university day friend was the Finance Minister. At that time, black money transactions were about 45 per cent. When Modi took over, he was briefed by a brilliant professor of economics from Poona and Modi started planning for action, which came later when no one expected. There was no chance Rajan would stay beyond his term. Modi gave no indications of his true feelings.
He didn't perform and had no intention either. He would have continued had he loved India and corrected himself.
Best decision by Raghu till date, this decision alone saved Indian economy from disaster.
Good that he was rightly kicked out by the Modi government which realized that this failed economist stooge of nehru family can become the greatest hindrance to India's leap towards progress, greatness and glory.
I'm not a fan of Raghuram Rajan and I disagree with his views on manufacturing but this comment section is the perfect example of how people are just not willing to listen to criticism. I guess Rajan is right about the unwillingness to listen to criticism.
He didn't quit working with BJP. He was FIRED. He was the real culprit in destroying Indian economy.
Mr Rajan has been wrong about many things on India.
He is supposed to be an objective academic but has proven to be very biased.
He did not leave, he was not offered the job. He had an anti Modi mindset. The guy is lying through his teeth.
Why before election ? Why All this Kolavari ! NPAs u won't put is out...u solve mess created by kongress and not trouble or crash market. Kongress did bad economic for very long. NPA was problem created by kongress loose appeasememt economics.
A very sensible talk he gave. But most will not like it as they only like to hear praise for one guy.
He didn't left,he was kicked out. It's a common fact know if u pay any attention.
RR is more of a politician than an economist.
You quit! No. You got fired! 😂
INDIA is doing fine without him
He is a knowledgeable man but with a big ego of western education and Modi govt. Punctured it.
And same PM goes to western countries to promote himself seeking votes
Even if you disagree with someone my dear friends...then making such obnoxious comments about someone is not righteous at all...
And he created the NPA's 😂😂
Nope. Modi's friend created NPAs via government Bank like Vijay Malya, Nirav Modi, Mehul Choksi, etc.
@@WalterWhite-og6wj pity you speak without facts. But that's your agenda.
@@WalterWhite-og6wjthese people were lended money by previous government fyi
Gujarati do not belief in "जय जवान जय किसान"
@Ranveer. Love your all episodes, but not this :(
Wow man your generation is so emotionally fragile,unable to deal with anyone having any sort of different opinions whatsoever
@@IndiaAgainstSlaveryIAS We don't need foreign agents having different opinions to damage the nation.
@@IndiaAgainstSlaveryIASLook at the mirror. Precisely it will reflect your point... 😂
@@rajeshparam8638 I don't have a problem with opinions which differ from mine. It was just an observation, not am argument. Whenever someone with contrasting opinions shows up the majority of the audience here is unable to process it mentally
The podcaster is not sound in terms of politics. He has not critically analysed on this fellow 's personality n his work .whatever he says just so well said yet far from reality
Chapris are giving comments on educated guy like Rajan 😂😂😂
Utter nonsense because podcaster is clueless about Indian economics and can't frame questions
He was kicked out of his job😂he did not leave
There is a Pradhan who is always associated with the governing body of a govt school, How many times he care for the schooling, He just diverge the funds available rather than making the school better.
À correction needed here..
He didnt " leave"😅 as he says
Modi refused to give him 2nd term and rejected him..
Because he is the stooge of scamgress and USA
in how many villages you have lived, As RBI governor, you were most of the time sitting in Bombay or as CEA, you were in Delhi, do not tell the politicians some of whom, expecially BJP came from cadre unlike your dynasty friends who were born with Silver spoon. if you are talking about Politics please enter, As Nirmala Seetharaman said first clear yourself - Are you talking as a politician or professional, Tell your theory to Mamta, Gehlot , Stalin or other opposaition states who rule from their capital
Ranveer, you should’ve asked why were you asked to leave, instead of what you did. We understand you are doing it out of respect 😂
Thank you very much for leaving India otherwise disastrous consequences for the country as a whole.
wait till andh-bhakti takes this country down..a lot of damage has already been done
Ragurahm is against the BJP and has a negative vibe. He is not as smart as he thinks he is.
*It would be nice if he understood what Democracy is, hint, the definition is out there!*
China has the best Democracy by the definition, but you won't know that if you don't know the definition!
When he said 1947 you have also spoken of subbarao Econ Adv of 1947 or perhaps good times LG of 1987. But now isnt anywhere near. Bombay 1987
One should be respected largely in his expertise
BHAKTI IS GOOD IN RELIGION NOT GOOD IN POLITICS WELL SAID🙂
Mr Raghuram Rajan had brilliant career and he contributed to the country to the extant possible. To remain relevant he turned political and hence his views lost professional touch.
He advocates against manufacturing as if service industry can provide employment to 1.4 billion people.
Hope he reads some of these comments and corrects himself in a due course of time. In the meantime, somebody suggest him a school for basic economics..
Green card Rajan. (Pappu's favorite.)
You were asked to go because of higher NPA level during your tenure with UPA Govt.
Are u on congress side bro!?
tmkb
@@sagniksinghatmkc
Ur naive if u couldn't understand Ranveer belongs to India society not Bharat society. 😂
@@surojeetchatterji9966 I personally believe that he is far more nationalistic than Congressis
@@anantbhushangaur1972 He is foreign Stooge of democrats, who r masters of Congress. U should look at him as Neo east India company agent.
Dr rangarajan economics was struck at UPA that’s why couldn’t adjust to modi govt.. it could happen to any old horse, no offense.
You left Modi Govt😆😆.......Modi Govt kicked you out of the Economic Governance.......
In the best interest of Bharat, he does not need to be the RBI governor. He can go to those countries which are funding him to bring down Bharat cunningly.