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“India’s Dream of a High Income Country” by Subhash Chandra Garg with the Government of India
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- Опубликовано: 13 мар 2024
- #TheIndiaDialog held at Stanford on February 29 & March 1, 2024. #TheIndiaDialog was produced by the US-Asia Technology Management Center, Stanford University and Institute for Competitiveness, India.
Plenary talk on “India’s Dream of a High Income Country” by Subhash Chandra Garg, Former Finance & Economic Affairs Secretary, Government of India
With due respect - he is not a disgruntled babu, is a sacked “Pappu” Babu.
He is forgetting that COVID years brought down the average growth rate. What was the average growth of the other major developed during the five years period?
Statistics are not the final verdict. The growth in UPA I was due to Atal Bihari Vajpayee ji's infrastructure push. That's why UPA I part 2 and UPA II were disasters filled with scams and crazy inflation.
Several problems with how he explains things:
1) UPI is not basically one digital bank. It's an interface that connects banks together. It's similar to how Zelle functions. The connotations are very different because one bank sounds like an Orwellian nightmare.
2) He did talk about last 5 years, but COVID is a once in a century type event, and it is best to exclude it when considering the record of a goverment. Where you can criticise the govt rightly would be its handling of the pandemic policy and health system.
3) Just like Atal ji's govt focused on things which set a good real growth path like infrastructure and technology, this govt is doing the same. Results for such endeavors are not immediate which is why many govts choose the easier option of increasing credit and inflation (despite putting greater risks on the system like bad debt).
4) Corruption is non-existent at the highest levels since BJP came to power.
5) The govt walks a thin line between protectionism and promoting local businesses with Make in India. Protectionism isn't good for a nation as we saw during Congress party rule for decades. It creates a bunch of incomptent businesses. Allowing Tesla to come into the market is a good move. The govt only needs to be careful to not allow foreign entities to become monopolies. Competition is good.
As they say - show me the woman a man sleeps with, and I shall tell you his own estimation of himself. Put simply, you are a mirror of those with whom you associate, align. Again simply put, if you are a Sonia Gandhi, Rahul Gandhi courtier - I need not spell it out. You are at the Pappu level - intellectually, emotionally and integrity wise. So good luck.
Well said
It is pessimistic Babus like these plus the Khangress govt, which have pulled India down for the 50 plus years that the Khangress has ruled in conjunction with these pessimistic beasts. Always pessimistic. Bureaucrats like these did not know how to provide toilets for half the population and distribute foodgrains that were rotting in FCI godowns.
This guy conveniently missed saying that for Vajpayee first 3-4 years India was under UN sanctions for its nuclear tests. And falsely credits Rajeev Gandhi for IT “revolution”. It was also his govt majorly responsible for no balances in coffers. And oil price shock due to gulf war immediately later did us in.
IT revolution was not any party s credit line it was the creation of American deep state to support their economy cheaply by using cheap Indian coolies
Well, Jack Welch's, the CEO of GE, decision to outsource to India is largely seen as the watershed moment which led to outsourcing to India. That happened by Sam Pitroda, under Rajeev Gandhi, liaised with Jack Welsh. That's why he is crediting Rajeev Gandhi for it.
These are like gunnes... They did not like india growth....I am wondering why he throw out from post
This is the most spectacular display of incompetence - shudder to imagine how commonplace this is across senior levels of government in India
Fiscal deficit calculation was hiding lot of things when he was in the finance ministry. Now there's no hidden fiscal deficit.
The elephant will dance for next 10-15 years
Indian babus like him do not have any solutions only crying.
You are 100% right
One thing I’ve noticed, Once a person leaves the government they suddenly start being pessimistic‘bout the economy. Here it is him and another one is Raghuram Rajan sir. I dunno why that happens 🥲
The most useless talk i have heard, no explanation of solutions or way forward, lacking any substance.
Informative talk...and critical. So glad to hear ... So important to learn to handle criticism and critical observations and questioning. We need such voices.
typical disgruntled babu
Pessimistic Babus like these, did not know how to provide toilets for half the population when they were in service or distribute the foodgrains that were rotting in FCI godowns. Now, speaking as if he knows everything. He always has this cunning smile on his face. Sour grapes. Good riddance.
our economy was $3.75 trillion in last november itself... where does he get numbers of our economy being $3.55 trillion in January? His assumptions were extremely political as if he has some personal grudges..
Western people don't like india should grow in leaps and bounds that's the reason they hate us and make propagandist noises against us
Beurocracy doesn't like that india should join to the high income group of nations
He acts as if COVID never happened, where nothing moved in India for one year. Empty streets, noboby moving.
Nice to hear you.
Sir, With due respect. if this is the best critical assessment, then I am very optimistic.
Obviously miles to go for India and hope elephant runs.
if those people knwo that india is 11 tn $ economy by ppp mode. once the dollar is managed india will automatially reach 11 tn dollar
India grew by 6% under Rajiv😂😂😂
Insightful
Which country has more than 5 yrs average Indian GDP considering COVID effect in 2020 & 2021?
He is always criticizing current government achievements.
Starts at 22:50. Yer welcome.
😂😂😂 good one
Did he just say that US dollar depreciated by 10% lmao ☠️ex Finance secretary 💀
Bureaucratic rivallary.
From Hindu rate of growth to Hindutva rate of destruction - story of last 10 years
The fool guy 😅😅😅😅
This 5 or 10 trillion economy is in current price or constant price
Who is this person. Cribs and no solutions. What is he trying to say?
. What a pessimist. Questions I can also ask. What are solutions? Old babu thinking old babu way. Hear young people like Sanjeev Sanyal. It is about solutions and cribs.
A pompous cad!
he is bappu of pappu xD
Bar -rat grow😂😂