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