Ad Here  
March
April
May
June
July
August
 
 
A welcome initiative by the judiciary Shale gas and its shallow future Make standards certification mandatory... Tribute – M V Murugappan Where a state respects its litterateurs… Like Hinduism: many paths to reach God... Come elections, come advertisements... TELANGANA at last…BUT Tax agriculture The sea- saw battle continues... No engine for this car TN accounts for the largest recruits by the IT sector S Ramanathan – a versatile musician, musicologist A yen for wastage… Delhi returns to BJP Readers' Mail Cutting the nose to spite the face Intellectual of rare qualities Funding the un-funded Roaring Ro-Ro facility L&T- the specialty of special purpose vehicles More Shakti to resource mobilisation... Alexa – Talking Wikipedia Why land prices zoom in TN? Godspeed, Chief Minister JJ S V Raju – a ‘good’ true liberal London, London Narayan R Sridhar steps down as CEO of Shriram Capital Adharma of opposition politics Inflation: are we emulating Argentina and Brazil? Delhi Chalo... Kulandai was a giant EVM is tamper-proof Things happen by accident and not by design... The why of tax incentives Of course, Gujarat is vibrant More Shakthi to Das’ elbow Solar, solar everywhere … For whom the bell tolls? Tatas moving out of urea production... Tribute – UCAL Selvan… The star of Spencers is no more Gay abandon in pricing Bihar elections - the Rajaji formula worked Bihar – Nitish Kumar adopts the Lalu model A friendly business group Demise of a media baron... IAS invades NDDB... Maximising the micro pricing … Welcome changes that testify to Jayalalithaa’s return to health Discoms deserve better… Noble nonagenarians... When nations steal growth from one another… Lalu’s envy, India’s pride CSR and CMI: promise of another Srinivasan Ramanujan... The Gulf aviation boom Which side are you, Montek? Infrastructure funding – lessons learnt Should we change the official year? PPP mode for upgrading Corporation Hospitals TN – agglomerate land holdings without alienating ownership Delhi is distant Quality silica from Neyveli Excel Generators provide the vital back-up Russi Mody – a tribute to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines The nuclear option B H Kothari - a tribute TGS- The king storyteller Where is Rajaji? Nuclear power at the nucleus Haul over the coal Music happens Delhi is distant… Gas is the way forward Rs.1600 crore paper board plant of TNPL Protest masters... Sweet news for TN sugar mills Remembering Indira Sivasailam... An inexplicable neglect Plummeting profits of PSBs The power-full Hindujas Why this malaise in medical education? A think tank for Chennai Padma Bhushan for A Ramakrishna Editor's Notes Mersal magnified CRS, a jewel among managers, is no more. Multi-faceted Venkat Put expensive assets created to use... Modi storms Silicon Valley Strengthen the base... Computation of GDP – conundrums continue Fortune for Indian Airlines A more liberated TN… Reliance’s TV – 18 ready to launch Tamil News Channel Waning interest in public discussions… This scant respect for Law Streamlining mandatory third party cover Contrarian cousins The few handicaps... Silver Years of Madras Musings Cleaning Ganga – relocate tanneries and install electric crematoria Odisha: spectacular win by Naveen Patnaik Whistle-Stop Tour of Raghuram Rajan GNS - 100: our first subscriber When small is no larger beautiful.. Fuel for thought Telangana in top gear… Wise Presidents A Grand Finale for SN’s MS centenary at the US… Not just in-laws (and outlaws); they’ve renowned academics at the helm! Convulsions in The Hindu CIPET hqrs to stay at Guindy – for the present? An enemy’s enemy is a friend Solar thermal shines… IPL - no surprise this scam The balancing act TN-leverage strength of BHEL, NLC... The Swadeshi Trump L&T: focus on infrastructure and more infrastructure… Scientists urged to take up farmer-oriented research Fall in crude prices help in oil sector reform When TN politicians can emulate Kerala's Measuring roof tops in terms of KW/MW Poor quality of university VCs Auto components surge… PC’s preference for professionals Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Boy, can you beat these? CII projects higher growth… West Bengal: mindless malignancy Fortune 500 review Revving up the manufacturing sector ONGC at KG Basin Welcome focus on core competence Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated All eyes on Sankara Nethralaya Airlines in India: cost and space Align crops to agro climate endowments… Sweeter prospects for sugar Don’t seem to feel the pulse… A Grand Finale for SN’s MS centenary at the US… Permanent secretariat for TN GIM China invests in India Preserving for the future Return to king coal for urea... When the President was rendered homeless… More tributes to GR Marketing expert Balagopal is no more Kinetic Karnataka Mu Sigma – is no more He continues the focus on social amelioration A proud Madrasi Colour-Chem’s colourful KRVS Muffled voices for merit… Another Indian music maestro at the UN Sri Lanka votes for change Naidu will soon build a new Hyderabad Recognition to role of NBFCs.... Cement prices continue to rise… Medical costs hit the roof... No mega rail project for Tamil Nadu Lesson from Chandrababu Naidu New IT products of Ramco in the pipeline… Building loyalty through the stomach Robber barons everywhere Build close rapport with business leaders Editor's Says A C Muthiah – his munificent bequeaths to science Air Asia India will set new benchmarks for budget travel Increasing non co-operation of state leaders The rise and fall of Annamalai University There was flood of milk. Reason: no milk commissioner! When Ratan Tata visited SRM Adapt Vajpayee dinner diplomacy Breaththrough in malaria control Five star activism stalls development activity TIAM turns a full cycle GM Technology at last! Welcome GST The Jan Dhan bonanza An informal presentation - analytical, forward locking... Moily’s bold thrust Diamond jubilee of Egmore Samskrt School Shipping woes of Chennai companies A glass full of corruption No Maha Koottani in TN... Liberal imports idling indigenous capacities The rise and rise of KCP Secularism and anti-Hinduism Online not in line with brick and mortar businesses... Towards speedy justice Paytm karo... Kudos to NDTV... Shaming of Tamils by Tamil farmers at Delhi The Ports’ Pasha expands into Tamil Nadu The ‘Ayyo-yes’ is no more Eternal support for capitalisation of PS banks For whom the MIDS bell tolls? When online building permits work…. Valli, they are more marginalised Pharma – overdose of copying Tribute MHC should not return to its old indisciplined ways Shanti and Sadhana through Music Tribute – Manikam Ramaswami Revive development banks... Banning booze... SoA @ 80 Land reclamation from sea appears cheaper! A rich pool of talent not utilised…. Road development slows down Rahman at CIC Dr C Rangarajan returns to Chennai Poor representation for Kerala and TN in Cabinet More heat than light Tihar, Puzhal not different from Parappana Agrahara Making ‘my Amaravati’... Vibrant Gujarat Polls and promises Naidu’s return augurs well for Seemandhra He saved millions from starvation... IPL type auction for VCs? WTO Meet: resolved to meet again Insurance companies bleeding, yet no decision on increasing FDI limit! Quality education through the PPP mode Wanted: a second airport for Chennai EEC at the National Media Centre Engineering seats go abegging How Air-India loses customs... Focus on quality of power - its only around 170-180V Tatas moving out of urea production... Welcome thrust on trade in Modi’s foreign visits... Small units prefers to remain small... The ‘Jayanthi Tax.’ Tough task taking states together The brown list of Venkitaramanan Modi and the lady F C Kohli - his concerns all embracing Parliament in paralysis... Limit foreign borrowings to hi-tech, export potential projects... …and of a popular trade leader A professional at the helm of IRDA...
 
An informal presentation - analytical, forward locking...

“It was Eureka moment for me: if you look at the Centre and states’ finances as a whole, there is almost a 0.5 per cent increase in GDP growth thanks to the combined efforts of the states and the Centre in stepping up capital expenditure by around Rs 150,000 crore. There is more consolidation of macro- economic factors by the states than by the Centre,” said Arvind Subramanian, Chief Economic Adviser (CEA).
Addressing a packed audience at the Madras School of Economics (MSE) organised by the Southern India Chamber of Commerce and Industry, Subramanian expressed confidence on accelerated growth of the economy and even forecast a 8.5 per cent growth during this year and the next. He attributed this to three favourable factors: one,  oil prices have come down; two, firms are registering profits; and three, monetary easing had begun. 
A MSE student raised an interesting question: whether the CEA was making an honest professional assessment as an economist or is constrained by selling a favourable, government point of view. Subramanian admitted to the compulsions of both! 
Chennai rarely gets to hear a CEA on the state of the economy. Thanks to Dr C Rangarajan, Chairman, MSE, such an opportunity was provided. Subramanian spoke on several of the basic features of the Economic Survey prepared by him and his team mates and described this  as analytical, forward looking and descriptive of the economic situation.  The CEA held that big bang reforms are not applicable to India because ‘world history told us that such reforms happen only around crisis.’ These are not easy to happen in democracies: “we have multiple decision making centres and multiple veto centres. It is very difficult to push through dramatic changes. India, at this juncture, is not in a crisis. Compared to July 2013 we have come out of macro-economic crisis. Since then, inflation has come down, current account deficit improved and stock prices have gone up. There are some signs of revival of growth. India has become an attractive destination for investments in international context,” said Subramanian. 
The informal, American style presentation from the young economist was relished by the audience. The CEA also responded to several questions raised, especially by the students of MSE. 
I have been suggesting policymakers in Delhi, especially senior bureaucrats, to visit state capitals and explain the nuances of economic policy. After the expansion of the national news television, this had dried up. 
For long, we never had a CEA from the south. Though Raghuram Rajan donned this for a while, his tenure was short. Subramanian has made an interesting good 
beginning in explaining policy at the MSE. Hopefully the TN Global investors’ Meet will present more such 
policymakers to address on current and emerging economic issues.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com