Critics are not anti-nationals, they are Uber-nationals: Raghuram Rajan intv| Dhanya Rajendran
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- čas přidán 6. 05. 2024
- Where is India going today? Is it surging forward, having just overtaken the United Kingdom to become the fifth-largest economy in the world? Or is it flailing, unable to provide jobs for the millions joining the labour force? What should India do to secure a better future?
India is at a crossroads today. Its growth rate, while respectable relative to other large countries, is too low for the jobs our youth need. Intense competition in low-skilled manufacturing, increasing protectionism globally and growing automation make the situation still more difficult. Divisive majoritarianism does not help.
In the newly released book, Breaking the Mould- Reimagining India’s Economic Future- the authors- former RBI Governor Dr Raghuram Rajan and economist Rohit Lamba explain how we can accelerate economic development by investing in our people’s human capital, expanding opportunities in high-skilled services and manufacturing centred on innovative new products, and making India a ferment of ideas and creativity. India’s democratic traditions will support this path, helped further by governance reforms, including strengthening our democratic institutions and greater decentralization.
In this conversation with TheNewsMinute’s Editor-in-chief Dhanya Rajendran, Raghuram Rajan speaks about economy, the future and critiquing the government.
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I don't regret 1sec after watching every single second of the video , that's the knowledge I want , makes me very fulfilling
Completely agree with the point on Education and it being critical also on the employability. Also completely agree it’s those who genuinely care who are critical.
Why can't we have education and infrastructure and manufacturing
Not everyone can have iT job
1.4 billion people infrastructure construction is poor person job
Abd education is basic right we need two freebies education loan to science courses to all and health insurance and food.
Congress giving ops pension 60% is so wrong
@@user-wn8ib1dx4r The IT wave is receding, and the next wave includes new energy sources such as electric vehicles, solar power, and artificial intelligence. Unfortunately, China is significantly ahead in these areas.
@@thezoldics7648 You clearly seem to know better than him. May I suggest, you also become a distinguished professor in finance and economics at University of Chicago (most prestigious university in economics in the entire planet), and the chief economist and director of research at the International Monetary Fund (IMF)??
@@dicky-duck6632yr ji I hu in ou
The interviewer throws logical, professional important questions, eliciting an intellectual and global class conversation!
It's always an educative & interesting experience listening to Dr Rajan
Critics are not anti nationals.. But joining Jihadis when they attack India is anti national activity from your side.
This voice is familiar to us. He tried his level best to stop the takingoff of our economy at the behest of Sonia and Chidambaram. People compare certain figures and percentages for proving something else. However they forget sustainable growth factor that becomes the basement for the future. Some good signs seen after 2004 was the result of good governance by Atalji. Dr. Manmohan Singh was not allowed to work. Everything was done as advised by Chidambaram on behalf of Sonia. Now several videos of Dr. Manmohan Singh is coming out regarding the attitude of Congress against the majority here. As Annamalai said, Dr. Manmohan Singh was the PM appointed by Sonia who was forced upon us against the wishes of the people of bharat. After the election in 2004, we were told that Here is a PM for you
During Manmohan Singh decade our GDP grew 2.83 times while Modi could manage only 1. 67 times. So who was better for our economy?
@@pardeeptandonBack then there are no wars happening and corona
@@GayathriK-re7wt Every next generation faces less problems than the last generation as the world becomes more civilised and develops.
@@GayathriK-re7wt 2008 economic crisis? Indeed, UPA meased up there second term with bunch of high-level corruption
Some good signs seen after 2004 because of good governance by manmohan singh congress govt we registered more then 9% growth rate for consecutive 3 years until 2008 financial crisis this has nothing to do with vajpayee and Manmohan singh was much experienced in handling Indian economy as he did that in 1991. Vajpayee didn't do much good governance hence congress came to power in 2004 against predictions. Rajan is the same guy who predicted 2008 financial crisis in 2005 then American treasury secretary also denied his claims but later found its true.
The discussion is absolutely inane. Full of platitudes.
He seems so desperate just to get am attention of current dispensation 😂
@thezoldics7648 So the current FM Nirmala Seetharaman is great??? The policy of taxing dividends like salary is the worst any counry can do. All to benifit proxy investors from China. The CCP staked up HDFC Bank under her nose..That should be considered treason. Also signing up FATCA giving US governments rights to Indian financial data should also be considered treason. These are clearly two anti-national acts.
India is changing faster and you people will be astonished.
This same dalal of Congress said Rahul is not Pappu but an intelligent person, he was the RBI governor and an RBI governor should be rational in taking decision i wonder how he took decisions as he supported Rahul's 72000/ per year for all people scheme in 2019 elections, these schemes made a country horrendously poor what we today call Venezuela.
Do UK US where mostly he resides, listen to his soooo invaluable opinions and advices?
No one cares about him😂😂
He predicted the 2008 financial crisis back in an conference in 2005 then US treasury secretary insulted him and denied his claims but after 2008 his predictions came true.There is a documentary made on financial crisis in 2010 called Inside job he has given interview in that
Brilliant Interview & book. Some great ideas to reflect on.
We need to encourage these discussions at a more central level and keep an open mind
13:02 No one is talking about abandoning services but what do you do with the 50% unemployable engineers in the meantime? Revolutionizing education and transitioning to the ideas economy is easier said than done and would need systemic change, not something that is forthcoming at the moment. Finally we should be aiming for the higher end of the value chain but what do we do in the meantime. But I think we really should get our hands dirty in the business of manufacturing so that we can repair what we manufacture.
Right said. Where do u live?
@@BengaliManfromWB Kolkata
@@sombh1971 me too
Ok
जय श्री राम
Conceptually right on paper but highly scalable software product design requires different skills, from writing code for e.g. writing software for J.P. Morgan does not mean one can design a trading systems as an enterprise product. India files 77k patent applications compared to China’s 1.6m.
Ask him what will he do to upscale 60% of population who is in farm sector.....can you make all the - Eng, Dr or scientist, He is telling half story suited for his naraative.
Other than that investment in edu, upskill is req. no doubt.
@@thezoldics7648 even if that were to be the case what’s it got to do with anything he said in the interview?
Well this is in response to him saying we must design chips and own the IP and let fabrication remain in Taiwan and China rather than catching up with the foundries as India is the outsource destination for Intel AMD etc.
Opinionated and biased is not an option for journalists and influencial academicians.
Continuously this gentleman has revealed his affiliation to critical theory. By tailoring his writings to ensure - right wing is portrayed as villians and wrong doers.
The gentleman possibly has started feeling his ineffectiveness as an influencer, hence says it is difficult to be a 'critic', in addition - is forced to assert he is some nationalist.
I don't understand why two things can be done at the same time : Improve ourselves in both services and manufacturing. We have enough population, if sufficiently educated that could do both. Why is he having problem with India trying its hand at manufacturing - especially because manufacturing is one that can potentially employ large number of people. Sometimes it almost feels conspiratorial - as if China has paid him to talk India from "following" Chinese model "as well". A well wisher of India would say "do everything you can" and not "don't do this".
Yes china don't want India to follow its model of manufacturing hub
@@achu10mech41 This man Raghuram Ranjan is just salty that current govt threw him out of his job. Now he is no more an economist he has become a political activist, simping for RaGa. BTW when he left his job, India was considered among fragile five economically. Google it! And also most of the NPA happened during his reign. To me he doesn't have any credibility.
Rightly said ... today it's manufacturing... tomorrow it might be something else. Don't forget AI, Biotech and Material Science and other such things which are about to bring impact how people live. We are talking about India, which has even now have places that don't have medical services available or primary education. Economists should try to build a system where people having a comfortable sustenance level and capital can start exploring ... give the choice to people... and by choices i mean the more the better... weather that be a beggar starting selling pakoras .. or a SME industrialist venturing into other area of business. Whether that is done through welfare or loans or subsidies is to act upon. Success has to be imminent and fool-proof and homogeneous.. not just a theory or narrative.
We need both, otherwise unemployed youth will come on the street without Jobs... we are already facing same problem now.
Can't respond to such questions, he is busy selling his work of fiction. 😂
But on a serious note it's not possible to do both because services are seen as an ideal place to be. There are lakhs of middle class kids who are sitting at home preparing for exams. They are wasting the most productive 15 years of their career pursuing desk jobs.
Sir, you are very correct and excellent work done by y, We expect more from you in the near future also,🎉
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Nice conversation. Dhanya. Keep it up
what the heck are you talking about? if we invest more on education, more people leave from India to abroad. I mean It needs to be standardized but You are talking about IP, some other companies will come from US and buy the IPs or small startups. I dont see any wrong in investing in manufacturing within India.
" One Indian car that is selling across the world ".. moving ahead on this statement in many of the other categories also we are yet to reach anywhere as universally accepted.. Still we say " Vishwaguru" to world with movies like "RRR" and Songs.. India is taken for a ride by firms like Micron..
So Mrs. Indira Gandhi did not want to reward the States with high population and underdevelopment - but her Grandson is declaring' Jitna abadi itna hak'.
Problem is we need politicians to be visionary and that can happen only when knowledgeable PPL are there in politics. Else larger picture will also lag , need intellectual PPL in government. Hope PPL understand that while voting irrespective of parties
Also for PPL understanding these things is difficult bcoz they want immediate relief such as freebies
You mean Person like Pappu!
@@rajeshparam8638 I meant across parties so that ppl vote on politicians outlook , mindset and his actions but unfortunately this does not happen . But if awareness increases then right ppl can make good policies
Bloomberg article- Jefferies says Indian market could fall by 25% if BJP looses 2024 elections. It also says in 2004, Indian market fell by 20% when congress won the elections n Congress leaders were forced to come out n say that they will not reverse BJP policies! Google’ Bloomberg BJP’ n you will find the article. Think why market n investor sentiment favour BJP??
Great talk Thanks
Just like left political parties giving freebies to public, bjp giving freebies to corporate, what's next I want a better live should I move to usa
I like this guy, but i am not able to get convinced that we don't need manufacturing. It is the only sector which can employ millions. What will we do with 200000 IIM graduates??
Also ask will you be able to make all scientist, or Dr, or Engineer. And the 60% employed in farm sector, how will he move them out of poverty.....useless economist. Why do not he give his advice to Biden or to UK...
He didn't say we don't need manufacturing he said we need to focus on growing service sector as well because of raising protectionism in other countries manufacturing like maybe china is doing will be very difficult and the way current govt is working we will be a poor country for more then 200 years
Being a critic for own benefit and pocket filling and that of the corporates of india who with the aid of western powers have made poverty a given are best told to shut up and keep their voices to themselves.They need to stay away from indian matters and policies.
Once the whole system changes and billionaires stop existing in india these critical minds shall also stop voicing their opinions,which they so vehemently do now to fulfill their aspirations and the market cap of their masters.
Start with food and beverages,followed by metals,ethanol plants replacing petrol and big refineries come under the govt petrochemicals export and olefins for defence products imports from west.
Things will be wonderful if labour in each and every field is given access to the western market.
That will be enough for eradicating poverty.
Plus the start up idea for the villagers and towns using service card for transactions.
Pay heed to this and reject all of his ideas he has sold his soul to the corporates.
Very nice 👍 interview
But this fellow is not a critic he is kattar anti national rouge
Mahindra is producing world class vehicles...so are Tatas. So, it;s unclear what Dr, Rajan is pointing at? Maybe India needs to market our brands more aggressively. Anyways, Mahindra agri vehicles are sm of the leading products in the market...
The things what he told might work in western world but not in India, the reason why he was kicked out
Interesting points of view.
I bought the book @Sapna book store, Jayanagar, Bangalore🎉 they are giving 25% discount too❤
RRR & Lamba are easily the most relevant economists with unwavering focus on India & it's multitude 🎉 RRR has argued to a devastating effect😅
This is a politically bipartisan book on the economic road ahead..
The timelines to propel the country to its pinnacle of economic glory is so well laid out..
This book will get referred to & quoted for the next 50yrs .. No doubt at all 😅🎉
Love u sir 🇮🇳
சிறப்பு, ஒவ்வொரு பதிலும் சிறப்பு
Nice to see Tamil comment! நன்று.
Democracy is practically and systematically killed in India, I hope it will live again after coming elections in 2024, or else biggest Democracy might downgrade to crony capitalistic Dictatorship. Which will be nothing short of a nightmare to live on.
Urban Naxal hardly Uber Rational
Not sure if you are aware of it, that TN govt roped in Mr. Rajan as a consultant for economical affairs, so all your questions on TN freebies/ welfare schemes could have been with Rajan's input. Now it's congress and Bjp cut and pasting them in all poll bound states.
At times it looked like Mr Rajan, was too much for you.. you could have interviewed our present RBI gov.
What if people don't want to become engineer ? 90% of India's engineers are unemployable because they were forced into that qualification by their parents. This whole idea of armchair quarterbacks coming up with theories in thin air is absolute bladerdash
The government takes the reports from inernational agencies, such as on nutrition and takes steps to correct the situation. Those who criticise the agencies are not in the government.
He is giving unnecessary advice to a government that has been successful in raising economy to the fifth place from eleventh. That is because Mr. Rajan and foreing educated Indians look down upon the present government as one of louts because they have not graduated from Harvard and Stanford. He is a snob.
He is partly true also. Not totally wrong according to my opinion.
This guy is just promoting his new book . Nothing else .
You are a genius
So, Raajdeep and Barkha are selfless patriots.
Raajdeep khan and Burqa dutt
I saw an interview of a person name Rajiv Malhotra, a technocrat from the US of India origin on the beerbicep channel which is run by Raveer allahabadia. He said the same thing about developing the technology rather than engaging into manufacturing.
Ranveer allahabadia what a name! Didn’t yogi change his name?
@@akshayganesh4144 he is from Mumbai. You NRIs know nothing about India.
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Raghuramrajan ji is looking very tired maybe bharat jodo yatra with rahul Gandhi was very hectic 😢
Agree with your point sir but don't we need to do both manufacturing and invest in good education at the same time. Not all of us has the ability and resources to get into iit & iims. What will the other guys do if there is no manufacturing sector.
But why and how can 'good education' be provided to the masses in the first place by the current government?
@@mehroseemehrosee3887 do you think the previous government gave all of us world class education?
@@aviz9830 no but is there any chance this one will?
Atleast they are able to put the economy on right track. A boost in manufacturing will definitely create new jobs.
@@aviz9830 when did this govt. boost manufacturing?
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Here is a guy who does not pay tax in India . He is seeking relevance even within U Chicago ..where is working . Neither the US Govt nor any western polict bodybaccords him any recognition Hence his forays into India to give Gyan . Text book theory from U Chicago will not work in an economy like India . He destroyed MSMEs during his stint as RBI governor . The only beneficiary of his stint was a firm pronoted by his family - Waterfield Advisors . All he did during his stint as RBI gov was throw parties in the Carmichael Rd residence of the rbi gov . He can stay whete he is .
This government is much more efficient than any in the past.
Who cares about his view points?
librandus and those who think good english = good intelligence
Raghuram on his lecture forgets it's the dry towel creaky in front of him and as he enters foxcon and apple figures the right response reaches farthest to Tiruchirappalli as we northernmost would say. However his tongue a slimy slip glib carries on unrelentlessly. ..........
It's not the right time to interview possibility of promotion is a concern
I dont understand why would you target only a particular high end of the value chain of manufacturing and try to go up. If we dont have overall manufacturing capability and are dependent on other countries especially China we would be in trouble particularly during a war time situation.
At least for critical products like chips and semiconductors we need to develop end to end manufacturing capability now itself even if it takes time.
Also he does not understand that to move 60% of workforce out of farm sector we need industries that can do different level of work, we can not push all in chip design.
As per him we should do only high end work and employee small section of people, for rest there should be no work. These are foreign trained economist with no ground reality of India. Let them restrict to writing book and walking with Pappu.
We dont even manufacturing a rifle . We use Russian ak 203 which would be manufactured with russian help only.
We dont have indigenous engines for fighter aircraft too.
Realistically We will never become independent as far as war is concerned
😂😂
Great Democrats Listen ❣
😊
Excellent 👍
Don't teach us Mr. Rajan.
Stupid Rog at least respect ex rbi person
I don't think that exclusion of Income tax payers is a good thing, We are seeing a fall of the share of direct taxes in the gdp in will be far better for the state to see a rise of Income tax filers even though they do not pay any income tax, this can help the government create credit profile for the unbanked population. Secondly we are also face demographic crisis like Sikkim where the population TFR is less than 1.5, we should also not help those states that have lower fertility rate for long time.
In Kerala, the university is governed by the Communist Party, and our education minister holds only an education certificate of questionable value. It raises concerns about how a Kerala university can be expected to compete globally
The communist party has destroyed Bengal and now they will do the same with kerala
This shit came again giving gyan who said congress gotala isi liye kiya kyu ki funds kami hai 😂
Some journalist, please ask Dr. Rajan about GST.
Idiots are saying, he's congressi. We are not talking about political ideology. We are talking about India, which includes BJP, congress, AAP, and other regional parties. It is so true, that politicians say this will happen, that will happen, but the problem what's the roadmap to that height
😂 these bright ideas were much needed when he was the RBI governor, these very same bright ideas hindered India's growth during his tenure
who support removal of Article 370 are patriots.
who dont. i wont waste time talking about thankless people.
We don't need advice from the person Who is more bookish than...
Cover up .... This happens when all your predictions go miserably wrong .... poor chap ... seeking some attention.....
China keliye kasm karna accha hai lekin china model apnana teek nahi hai
Removal of All T shirts of neet music Akash vanes print
His understanding of China is zero. China has many companies which are best in the world.
Huawei: best in the world and pioneer in 5G
DJI: World's leader in drone technology
BYD: World's largest EV manufacturer and the only company with whole supply chain
CATL: World's leading battery manufacturer and pioneer in battery technology
SMIC: Top 3 semiconductor foundry manufacturer
Besides these there are huge number of very good world class firms from China which are huge international brands
China now produces more world class scientific papers than USA. So what's that to do with Government of China and low cost labour when today China is leading in many of the advanced technologies. Rajan is still stuck in 1990's when USA controlled everything in an unipolar world
It is fun to watch Raghuram Rajan making wrong predictions about Indian economy 😂😂😂😂.
Raghuram Rajan is not what one define a critic. He soft pedals on genuine criticisms and is too passive a critic. He is holding a pivotal position and in a position to change the betterment and destiny of a nation but he is not a driver of change he claims to be. India is a broken country akin to a jungle. We see that today. India is not cohesive nation. India is at war with herself. Raghuram could put forward ideas as the time has come that India could be turned to a new political arrangement where all states go independent under a system like the european union. The union with India has failed and has not produced its desired intent. Self determination and sovereignty of states is the way to go as India is not a country but a sub continent.Its too complex and too divided.The Union of states under India has not worked as it's even clear today the central govt don't empower the states. He should be able to say the union of states that formed the union called India is an accident. But he doesn't.
When one solves a problem you need to go beyond being trapped in fear due to self sabotaging fears as anti national and fear of sedition etc. We need to understand that the end objective is what works and what does not. What is a pragmatic solution ?
Raghuram Rajan is just a towering figure but not a problem solver. He enlargers the problem . He is not a wise man although portrayed as one
There is lot of intelligence in our country but we have poor opportunities to use it for development. There is brain drain and we find politicians use their brain instead of that of experts.
We don't have a lot of intelligence, what we have are pockets of excellence across the country.
India needs Administrative reforms more than economic reforms. We are still ruled by the same administrative system which Britishers used to loot us.
This guy always say what we should not do.but he did not do anything when he was in office.all bjp doing is wrong and all the things he say will be right 😊
New person in wire gang 😂😂😂
Nobody is gonna read your book don’t worry, speaking against government and speaking against national interest are different.. NewsMinute is gonna teach us nationalism ? Blah
He makes complete sense
Rajan is a marionette, pure and simple. But even a marionette can play the sort of softballs that were dealt in this bs interview
No necessity for giving unnecessary advice. Speak straight what & how much damage done during your tenure.
Compare india to bangladesh not china plz😅
China is an open air jail . No comparisons with India possible 😂😂
An overrated, overhyped person who overtly failed as RBI Governor. The present RBI Governor is far more capable.
This guy is a political Congress narrative
Channel and rajan anti national
Pappu's failed economist.. 😂😂😂😂😂😂🎉🎉🎉
Don't teach us Mr Rajan Pimp of Congress 😄😆
Really your uneducated person first respects our ex rbi governor
Ignorance is strength.
@@subhrajitgupta5535since we are ignorant, please take the pleasure of owning us by explaining why he has not retracted his paper "Made in India, made for India"
Think the opposite of his opinions. Nothing came on his way for the last so many years. He is another left urban luteyn.
Bloody brown saheb
ஏண்டி தன்யா முண்டை கலைஞரை பேசும் நீ ஊழல் மகாராணி செயா ஆயா password என்னடி பல புருசன் 12345.....etc...
😂😂😂😂😂😂😂😂😂😂😂
He is so busy talking about problems with the BJP government just before the elections. Where was he before? The last few years? He must be well funded by Congress. Please go back to your intellectual hole and do what you were doing before. You are irrelevant in India Mr. Rajan.
Two jokers in one frame
If they are uber nationals then you are ola nationals. 🤣🤣🤣
This guy not have guts to tell Tamil gov to Stop incentive for manufacturing and go for what he said high end product no😊😂
Actually Gujarat gives incentives to put factory over there... Not tamilnadu
He has gone full on libchu. What a fall!!!
This man is waiting for recession in India from last 10 years. 🤣🤣🤣
இவளோடு அப்பா.. கலைஞர் பாஸ்வேர்ட் இவளோட அம்மா எம்ஜிஆர் பாஸ்போர்ட் 😂😂😂 ஓடி போன பொண்டாட்டி பாஸ்போர்ட் கோமளவள்ளி ...
தான்யா இரவிச்சந்திரன் லைவ் யூ டியர்...
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