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

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