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