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