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Excel Generators provide the vital back-up Align crops to agro climate endowments… China invests in India Fuel for thought PPP mode for upgrading Corporation Hospitals Demise of a media baron... The nuclear option Welcome focus on core competence Permanent secretariat for TN GIM Auto components surge… Russi Mody – a tribute GNS - 100: our first subscriber The power-full Hindujas GM Technology at last! Moily’s bold thrust For whom the bell tolls? A professional at the helm of IRDA... 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This scant respect for Law Small units prefers to remain small... Noble nonagenarians... No Maha Koottani in TN...
 
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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