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Robber barons everywhere Poor quality of university VCs Welcome changes that testify to Jayalalithaa’s return to health Alexa – Talking Wikipedia The Gulf aviation boom Multi-faceted Venkat The sea- saw battle continues... An enemy’s enemy is a friend TN-leverage strength of BHEL, NLC... Contrarian cousins ONGC at KG Basin Silver Years of Madras Musings A yen for wastage… Maximising the micro pricing … An inexplicable neglect Banning booze... TN accounts for the largest recruits by the IT sector Tribute Measuring roof tops in terms of KW/MW For whom the MIDS bell tolls? Diamond jubilee of Egmore Samskrt School The Ports’ Pasha expands into Tamil Nadu Pharma – overdose of copying More Shakti to resource mobilisation... Welcome thrust on trade in Modi’s foreign visits... Mersal magnified CIPET hqrs to stay at Guindy – for the present? 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Solar, solar everywhere … TN – agglomerate land holdings without alienating ownership Scientists urged to take up farmer-oriented research TGS- The king storyteller When nations steal growth from one another… He continues the focus on social amelioration
 
When nations steal growth from one another…

Delhi is distant. For long I have been suggesting policy makers in Delhi to visit state capitals and other cities to explain policy and its implications. This should extend to Union ministers including the Prime Minister, secretaries to several departments and other political bigwigs of the party in power. The efforts seem confined to the prime minister through his man ki baat and tweets. I again suggest a change in this by policymakers expanding their contacts at the regional level.

In this background, the initiative of Dr C Rangarajan (CR), to present, initially Chief Economic Advisor Arvind Subramanian and subsequently RBI Governor Raghuram Rajan, was welcome. Both the outstanding economists were alumni of IIM-A and thus it was easy for Dr Rangarajan who was a distinguished professor at IIM-A, to present them at the Madras School of Economics of which CR is the chairman.

In his short visit to the city, Raghuram Rajan didn’t talk  about monetary policy or other facets of current concern.  He chose a subject on India and the international financial system. It was a brilliant analysis on the present state of the global economy struggling to regain momentum in economic growth. His reference to nations attempting to ‘steal’ growth from one another and the reasons for it, provoked a good deal of thought.

A note of thanks to Dr Rangarajan for bringing these luminaries focused on Delhi and Mumbai to Chennai.

 

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