Скачать или смотреть Past Policy Failures and Recent Economic Growth: A Critical Analysis | Prof K Subramanian

The Indian economy is currently growing at an unprecedented rate, but criticisms of the policies driving this growth are also prevalent. Is this growth a natural progression, as P. Chidambaram suggests, or does it require substantial effort and effective policies? Isn't it widely accepted that escaping the middle-income trap should be a key policy objective? Is Raghuram Rajan’s criticism of the government's focus on manufacturing over the service sector justified, or is there merit in prioritizing manufacturing for economic convergence? Moreover, does the Farm Law Bill present a more logical approach compared to subsidizing the farming sector? Are policies like the APMC, Essential Commodities Act primarily detrimental to small farmers?
Reflecting on Nehruvian policies, it's clear that manufacturing suffered due to excessive government intervention. For decades, Nehruvian governments hindered effective manufacturing development. Milton Friedman, invited in the 1950s, by the then-Indian Govt. to advise the Planning Commission, recommended leveraging India's labour advantage, yet the country did the opposite. Dr Arvind Panagariya and others have highlighted how flawed our economic model was until 1991. Although institutions like the IITs were established, they hardly affect the grassroots level, as they are institutions of higher education. Areas where the government should intervened were often left underfunded and intervened in areas better left to the private sector.

About The Speaker:
Prof. Krishnamurthy Subramanian is an Indian economist and the Executive Director of the IMF. He has held various positions, including the Chief Economic Adviser to the Government of India, Director of the International Finance Corporation's India department, and a senior lecturer at the Lee Kuan Yew School of Public Policy. Prof. Subramanian has also worked as a consultant for the World Bank, the Asian Development Bank, and the United Nations Development Programme. He has written several books and articles on economic development, economic growth, and policy.

Rahul Dewan is a tech and social entrepreneur, angel investor, open-source software evangelist, and the founder of Srijan Technologies, an *18-year-old enterprise web content management consulting and development company. He founded and runs Sarayu Trust which runs non-formal schools as well as several Dharmic/Indic projects. He is a writer, blogger, social activist, and a Sadhaka, who has devoted his life as a soldier to the cause of Bhartiya cultural revival, literally by all means. One of these ventures is Sangam Talks, where we strive to reclaim our cultural heritage.

Topics Covered:
00:00 Delinquency of Nehruvian Policies: Economic Growth Requires Hard work
01:55 Vulnerability as a Value: Success from a Humble Beginning
05:11 A Personal Experience: Fighting Self-Doubt
07:05 Is Economic Growth a Natural Progression, as P. Chidambaram Suggests, or Does it Require Substantial Effort and Effective Policies?
10:09 Is Raghuram Rajan’s Criticism of the Government's Focus on Manufacturing Over the Service Sector Justified
15:42 Policy Failures for the Manufacturing Sector in the Past: Created Uncertainty in The Informal Sector of Jobs
17:50 Importance And Benefits of The PLI Scheme of The Current Government: Creation of Jobs
21:38 Manufacturing Sector-Growth Helps Economic Convergence
24:27 Two Most Important Areas for Investment: Education And Healthcare
29:37 Decolonizing Minds by Giving Importance to Native Languages in Higher Education Over English
33:43 A Personal Experience: Emphasizing the Prevention of Diseases Through Ayurveda
37:19 Minimal Government Intervention But, Rational Increase of Privatisation
41:41 Flaws in the Essential Commodities Act: How Inadequate Planning Has Harmed Small Farmers
43:34 The Folly of the APMC Act: Why The Farm Law Bill Was Logical Rather Than Subsidise Farming Sector
52:37 Income Inequality: Higher Inequality Correlates With Lower Social Indicators
56:38 Debates Need to be Contextualise: The Traditional Essence of Indian Sanatan Culture/Civilisation
59:07 For Positive Outcome to Manifest Positive Thinking is Necessary: Aim of The Book

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