Why do we need Chips, Mr RRR asks. The modern way of life Indians enjoy is impossible without chips. The same way we need dependable energy supplies, is the way we need reliable trojan-free chip manufacturing.
No, given a finite budget he is suggesting subsidies that will maximize gains. After all this is an optimization problem and not a matter of personal preference. We can not write off 35% child malnourishment or inadequate education as if it is the child's Karma. Malnourished kids will be permanently, mentally and physically stunted. We need to get the basics right(ex: value for life), and everything else including semi conductors will follow.
@@jamesrohangangavarapu9290 Your outlook is as lame as saying Bharat should build toilets before sending more rockets to space. If anything at all, Bharat needs to invest a lot more in bleeding edge technology and methods, while being mindful of those areas you highlighted. Stop being utopian. It's an abstract idea with no basis in reality as we know it - at least not for the foreseeable future.
@@aryaman05 Your comment makes no sense. What he says is if we have 35% malnutrition, how can we have a good labour force in the coming decades be it manufacturing or services. We are not subsidizing the service sector. They are hiring because there is talent here. Why are we subsidizing the lowest end of manufacturing?
@@ragul3204 As others have observed, this bloke's comments are almost entirely cliched, i.e.: he's stating the obvious. Did you think GoI isn't aware of the importance of its Human Resource, or what needs to be done on the so-called 35% malnutrition thing ? Need some examples on 'lowest end of manufacturing' for a meaningful exchange. In any case, think of such support as stopgap measure while main project matures.
@@aryaman05 Our government is aware of it but instead of fixing it they sweep it under the rug because it is a shame to accept it. Assembling phones does not necessarily mean India will have a mobile phone company like Huawei in the future. It's not assembling phones but we are subsidizing it. It doesn't mean we will move up the manufacturing chain. Even today we can create a new mobile brand by just doing software and hardware design.
He clearly has not tried the regular people's healthcare system. The American system is a real mess for everything. The queues are months long to get any type of appointment. The UK is better for basic and standard things, but anything more has a months long wait. I've been to a doctor in India. Same day appointment and only $5.
Gadhe, fir america kyon ja rha c..ye..cherry picking kr ke kuch bhi bakwas kiya ja sakta hi..majority indicators ki baat kr..10 me se 6 chize kaha better hi..
Developed countries have about 7 doctors per thousand population. India has 0.7. So, we need to have 9 million doctor jobs for developed status. Do this same assessment for nurses, police, firefighters, etc, and it soon adds up to hundreds of millions of children that need to be trained today if we are serious about developed country status in 20 years.
Raghu is the kind of man who has got thru life with a certain superficial smartness & competence. There are millions of Raghus in India...BUT MODI IS ONE AMONG MILLIONS. The sooner Raghu realises this...he can actually make some contribution to our national effort. If he wants to eke out a living on the basis of his supposed prediction in the past, he is living in La-La Land.
Sorry if he hurt your child ego, assuming what I know is true and all other possibilities are false, is sign of ignorance and stupidity. Do you disagree There are much economists than him.
There are various economists in the world and India with an equal and/or greater calibre than Raghuram Rajan. But there aren’t many economists of his educational qualification and calibre who have held the post of the governor of the RBI who are willingly giving suggestions to improve the economics of our nation. And it is very weird to compare Modi to Raghuram Rajan, as we all know Modi has been elected by the people of the country to lead us as the prime minister, but it is also known that he doesn’t have the educational qualifications or most probably the sufficient knowledge of economics to be compared to Raghuram Rajan. Similarly Raghuram Rajan wasn’t placed in the rbi because he was elected but because of his competence in the space of the economics academia. And for the argument that there are millions of Raghuram Rajans but Modi is one among millions. If we say the Modi is one in a million, since the population of India is 1417 million there are 1417 alternatives to Modi in India, but roughly estimating, there will be less than 20 iit(madras/bombay/delhi) graduates in IIM Ahmedabad (on the higher side). So on considering for the past 50 years, there are still less Raghuram Rajans than modis. Now if we consider that he has a phd from a T10 university he becomes even rarer. 😅
❤one statement..Modi government and BJP should sacrifice for what they have done using radh yatra, disown themselves, say sorry and show the world that they are secular not fanatic ❤
If we have chip manufacturing base here , tomorrow we wont have a shortage of them , and also since a large requirement is there in defence , and also lot of startups will jump start.
When you have security threats, you can not depend on others. If China attack us in future and we need Chips (assuming China capture Taiwan) who will provide us the chips, all will start asking their cut or demand something ......this is why we need strong mfg base and also technology. This fool is not understanding this and promoting or Service led economy. Itna hi smart hota to PM nahi ban jata.
He is always given importance , that’s why Andhbhakts like you troll him . If you were truly educated, read the comments Nobel Laureates make on his papers . But I’m sure you’ll not be able to understand them.
practicality is of no use if it is non-directional, for ascertaining/optimising on the best path, we need to include the suggestions of the academics... no superpower ignores its academics and those who do, the cease to be superpowers..
They never put boots on ground. He studied in IIT and then IIM but went to USA for work. So his experience is that of USA. Now he is making suggestions for India with little experience of real life. but ok. I wonder he was associated with RaGa yatra, then looks like he realized that he is not going to win, so started his own personal publicity.
@@ragul3204 oh really😏what damage has been done to our country by not venturing into manufacturing, who is answerable to that. He keeps on saying services but will it create inclusive growth, we are dependent on everything on China , tomorrow if something happens where is our industrial capacity.
@@drury2d8 oh really😏what damage has been done to our country by not venturing into manufacturing, who is answerable to that. He keeps on saying services but will it create inclusive growth, we are dependent on everything on China , tomorrow if something happens where is our industrial capacity.
@@shilpa3032- you can always try Taiwan. The bottom line is that China is not a war-like nation. Look, 130 nations have China as their #1 trading nation. Don't let the Media & Political elites😢 fool you, China seeks friendly relations with all nations. Their history bears this out.
He is a strong supporter of Congress. He talks about implementation. Isn't that the problem of Congress? There were a lot of ideas and planning during the UPA era but very little implementation. Hardly an expressway, airport, or railway station was built during the UPA era. So what is he talking about?
"I am a neutral academic"...what a joker. He will walk with Rahul beta holding hands and state India will be lucky for smaller % GDP.... He is just trying to sell his book thats why he's showing up on different talks
..gotta admire his tenacity, as I'm yet to see any sizable list of favorable comments on him, and yet he doesn't stop presenting himself at all these worthless talks, well almost worthless.😂😂
❤i love my country... but Modi India still see me as a traitor although I lived here 46 years and my forefathers 2000 years, Modi wants me still strive for my dignity... but I still love my country.... I'll not leave Modi unless he understands my India is a secular country and I'm a part of it. Let him take that strenuous step, I'm ready. I still love my country ❤❤.❤
While it is true manufacturing relative low value,one important thing is it employ a lot of people. So a balcing act between mass employment as well build top end of design
Malnutrition is the result of poverty in India. Govt is already giving 80 cr people free ration, what more can the govt do with limited budget. We need more manufacturing jobs where the skill requirement is lower than a service job, to bring more people out of poverty quickly. India has a huge population and need to do everything across the entire economic spectrum - from sending Satellites, building chips to building toilets, basic vocational training etc. A lot happening and a lot more would be required to do till 2047 to achieve a 10k$ + per capita income. When we started our Space Program, the world laughed and preached us saying we should feed our poor first before we take up such scientific challenges and spend money. Now the world is applauding the success of ISRO. Similarly we need to start on chips the future is electronics and computers in every simple tool or appliance that we use. We need not be 100% self reliant in higher end chis but at least in the high volume, low end chips we can be 100% be self reliant for faster rollout and better control. Raghuram’s baises are clouding his judgement.
Roti means 2000 calories of food per day,kapada means 50 meters of stitched new per year, rozgarr is 300 days employment at 1000 rs per day, makan is shelter as birth right at 150 sq ft fsi at coc basis. America is going to declare shelter as right.after carona spacial segregation,social distance factored in housing within a shelter and between shelter. Another important advise is land is 2 dimension but shelter is three dimension. But trouble is we have 80 lac circle rates decided by state govt used in the or rather confused by rbi for taking as collateral value. Thus the problem is fixed by utility value of land . Meaning when any peace of land is given as collateral esp for banking system now onwards to arrive at space creating figure and arrive cost of construction rather rely on state circle rates. Thus means same fsi,same construction cost and same sq ft rate meaning we are ready for one nation one housing through the newly formed ministry of cooperation. This means 3 to 8 member dwelling priced at same rate,same ,specification all over country viz at 12,24,33 lacs we gets houses if 450,900,1200 sq ft shelter. So the guest speaker and students st esp ISB this called Dravidian model of eradicating shelterness universally. I am the co author of this concept. 42000 sq ft fsi at coc at 2500 rs per SQ ft is 15 trillions dollars as house with housing coupons through rera rbi for 35 cr households as fundamental right state wise, through a chief shelter commissioner,land comp bonds,first mortgage ,second mortgage bank,limited purpose construction banks,1,2,3, ... 8,9,10 rated construction banks. Mal nutrition answered the calories baseed revamped civil supplies. What amritya sen,Abhijeet bannerjee. Forgot reason for inequality and powerity is colonial method of value land but it is by valuing land by fsi index . Agri is zero fsi,barren land,and shelterable space creating land and so on. Happyness index to 1 from 136. Reg capacity 25 cr acre for Agri,10 cr acre for pre and post Agri,cattle,wind mills,solar etc and 609 de sal plants if 10 cr ltr per day,35 lacs acre 2.7778 fsi indexed land comp bonds GDP dies not matter,mortgages as a percent of GDP not accepted,density of population is wrong.....we are going to get 2 Nobel prize for economics and second for international understanding and peace. Let us debate,discuss. Let us switch to indifference curve based land valuation,,prof , Samuelson's revealed pref theory and prof Brahmananda semibombla ,leontiff input output, Pareto welfare principles.. we are theoritcally correct in our Dravidian model of eradicating shelterness universally. Just implemented. Let us see see BJP or Congress in their manifesto.
@@sidcoolguy7 yes you are right we need to seperate homeless and houseless,marginal titled,ever rent payers,first shelter seekers . Ministry of social welfare and ministry of cooperation,seperation of Agri and Agri related lands,barren lands,shelterable space creating land,33 year old structures as deemed barren land and so on we need a uniform central policy to be followed by all states is dravidian model of eradicating shelterness universally is what we want. Happyness index matters not GDP. Let us move to 1 from present 136.
Mukesh Ambani earns ( Revenue of) Rs 10 Lakh Crores & GiveJobs to just 3,80,000 people......Adani Group earns ( Revenue of) Rs 2.5 Lakh Crores & give Jobs to just 43,000 people.....State Bank of India earns ( Revenue of) Rs 4.3 Lakh Crores & gives Jobs to just 2,32,000 people.....& TATA Group earns 12 Lakh Crores & Give jobs to just 10 Lakh people..... Capitalism is winning
What Raghuram says may have some meaning, but he needs to talk about geopolitics. If India doesn’t facilitate manufacture of chips, they will move to other countries where they will learn to design them! Second, the design will still be controlled by US and there is nothing to gain for India. On the other hand if we have design, development and manufacturing, then our engineers and manufacturing companies will learn end to end of chips, which I think is important for India for the future! About training and skilling, I agree, and I sent a message to Mr. Modi to have industry train the unemployed youth in India for 1-3 years based on education level, absorb the best, and let others to find their way after!!
I have read few articles between 2004-2014 during congress tenure they were discussing about manufacturing but it didn’t materialise as expected it’s congress like it tech industry we would have been giants in manufacturing we lost 20 years
Lol. If this "quality education" could get us chips, why don't we have any chip manufacturing plants rn? Most Indian people who are from talented enough to make these chips are from IIT, IISc etc. (top colleges), but still chose to move abroad either for a job or to pursue their Master's/PhD. Because THERE ARE NO (major) CHIP FACTORIES IN INDIA. It's kind of like the chicken and the egg problem, you don't have a world class factory capable of producing the latest cutting edge chips -> you cannot retain the top talent in this country -> because of which you don't have a world class chip factory. Now let's assume what he is saying is right, we invest in our education system and somehow build colleges competing with MIT, Harvard etc. and we get the top talent in India, what's the guarantee that they would still stay in India after they finish their education. Now let's assume, even after all this, they somehow stay in India and decide to build a factory, the only company in the world that can build the equipment to make the latest chips is ASML. Now would they give preference to you (someone whose name no one has heard of), or to some big name like TSMC, Intel or Samsung. So, it's much better to invest in something solid, to get your feet off the ground, and then slowly invest in more quality education as he said. You cannot just blindly build schools and expect things to fall into place. Sometimes, you have to carve out a way for the water to flow. But after all this, someone still says "what's the importance of chips", please throw away your laptop/mobile/tablet/TV that you are watching this on.
❤ the medical necessity of India is such that every Indian including I am malnourished, our doctors overprescibe, there's no fee schedule put up for an E&M not for hospital revenues. The traditional medicine is never regarded. Modi wants to take tantrums of superstition that beef consumption is illegal and other superstitions spread via media and take political advantage of it. You know what I being a poor Indian citizen targetted corporately several times. But almighty sees me....i don't want to say anything more ❤
❤ democracy and freedom of speech curtailed ❤ what else is needed to perspire that India is not a democracy ❤ the slogan of expelling Christians and Muslims from the country by a defence minister, how Haggard and awesome begun❤stop these tantrums first and then nominate electrols ❤
From 1947-1991 congress delayed economic reforms , license Raj uneven development even wealth distribution scams corruption wastage misuse etc hurt India badly imf bailouts 2004-2014 scams corruption economic standstill
@@User-mncbjlfjrebxkl China started as a manufacturing hub for the world whereas we have always been growing our manufacturing based on domestic consumption.
Our main problem is that many people do not want to migrate to get a job. There are more than two crores people in south India migrated from the North. Equal number of south people have found job elsewhere. There is under employment. Job is not available in front of your house. This has to be accepted.
Why Nobody want to talk about how "The Elephant in the Room" (Indian Caste System) is stopping India's progress from past 1000 years (Including years after so called Independence)! Because without proper education of the hardworking class (So called low caste) India can't innovate in manufacturing sector and without innovation India can't progress in future. Or may be stuck in middle income trap. 🤔😒🙏
Today,Many CEOs of Big Indian MNCs are Of Tamil Origin,BUT, Many of them are UPPER-CASTE,Becoz DMK-AIDMK Discriminated against Upper Castes in Tamilnadu,They migrated to Mumbai, Bangalore, Ahemdabad,Gurugram,Delhi and Pune etc to Show their Talent and Became CEOs through Hard Work and Talent,Not through Reservations or Discrimination and Many Big Businesses in India are also Established by Gujarati Upper Caste Hindus,Marwaris, Jains and Parsis Becoz they had Entrepreneurial Culture and Even Today Modi Govt allowed 1 Lakh+ Startups to Rise, Everyone is building a Startup to Showcase their Talent and Create Employment and Build Indian Modern Industrial Base
The educated author misses an important point - when you have a large poorly educated populace, doing manufacturing makes sense because it can employ a large number of people.
I think the suggestions are cliches because most educated and smart academics give the same ones. Thus it is ours and the government’s role to take these into account and make decisions.
Developed countries have about 7 doctors per thousand population. India has 0.7. So, we need to have 9 million doctor jobs for developed status. Do this same assessment for nurses, police, firefighters, etc, and it soon adds up to hundreds of millions of children that need to be trained today if we are serious about developed country status in 20 years.
@@ddb0831 2.6, 4.0, 3.9, 7, these are all numbers much higher than 0.7 - so it's totally irrelevant what is the precise number. Even to get to 1.4, India will need to double the seats in medical colleges. Focusing instead on building temples will only make us more sick and incompetent.
We want Modi ji in 2024 and in 2029. Also we want Anti-Hindu and Anti-India Corrupt Criminal Congress Party, Left Parties, Leftists, Communists, and Jihadis Mukt Bharat
And we want Modi and BJP mukt Bharat in 2024!!! Modi and his Gujarat lobby can go and create temples which is the only good thing they can do for the nation in name of development!!!
Investing in IIT and IIM have little guarantee that they will stay in India for adding any value to nation. Spending on factory assures guaranteed return like employment to Indians and reduced dependency on other nations for chips, which is essential for today's world. The investment can attract other MNc as well. If you want IIT/IIM to be funded, ask the Alumnis who went abroad to donate the fund for development of institutions. Take eg of Einstein Medical School where the alumni donated USD 1 billion to institution making all student free of debt and tuition fees.
You did your education at IIT, but it did not impart you the skill to work, which you learned from organisations. All of us are like that. So do not blame education.
He is discounting the fact that US Dollar is reserve currency and has endless printing machine which artificially inflated the values of all tech companies and also serves as competitive advantage over entire world!
@@parikshitsharda4377- Read his papers you fool . Then you’ll understand the depth he has on finance and banking . But I’m sure you’re not educated to even go through them , let alone understand them
I agree with Dr. Rajan on all counts. Especially import substitution bit on education. I came to the US and studied at a world class university because I couldn't get into XLRI. Had there been more XLRIs in India, I would definitely have not spent so much more money to study here in the US. In India, the competition to get into good schools is enormous and takes the focus and efforts out of actual education and research, and reduces it to focusing your faculties on cracking entrance tests. I realized the fact that it's okay I'm not smart enough to be in the top 0.001% to get into XLRI, but smart enough to be in top 1-2%. Which to my mind wasn't bad given both the quality and quantity of Indian students appearing. In a top US university, I need to be in the top 15-17% given that's the rate of acceptance of good universities here. That bolstered my chances of quality education by 17000 times. And 17% are still at very selective universities.
One of my colleague who was one of the toppers in the university in under graduation. I was her classmate in Delhi School of Economics department of sociology she scored 60% marks which is pretty good considering standards of marking in Delhi School of Economics she finished her PhD from Jawaharlal Nehru University scored good grades in Mphil program as well was teaching at one of the premier institution as an Ad Hoc faculty but because of some strange reasons was not selected as permanent faculty member. One need to ask where is idea of merit in a very conventional sense gone, its not just her many of my friends and colleague had to leave University . I can simply say these four five individuals were best among my contemporaries who are pursuing Sociology and social anthropology as a career
Don't discount. There is huge truth in his statement for the good of all of us. Fools only criticise good suggestion. If you don't look back to find your failures you will never improve.
Wow these people are isb students they are giving him a round applause 👏 we had budget restrictions before it &tech services boom we have invested in it look now
IT Cell worker - go read about IT services , it thrived solely on the grit of entrepreneurs. No government did any investing - it’s a footloose industry . Now google all the terms before blabbering your useless opinion again
Maybe because economics is not always rooted in ground reality. Professor took the proper approach in my opinion. The common man doesn't think about statistics or neo classical economy theory
My query is Prof Raghu Sir, Abhijit sir, Rohit sir are all advisors to India's Tamilnadu state Govt- so why to Tamilnadu Govt they are not insisting on Govt spending to be more on Higher education institutions creations, training institutions creations, and skill gaps filling agencies - instead of the TN Govt also spending money on manufacturing sector subsidies, spending more money manufacturers investors meets
Every big industry starts with small steps. Today you are assembling, tomorrow you will open more companies who will make other components, and slowly companies will also start designing them. Automotive, IT sector grew in same fashion. We were doing body shopping in mainframes, preparing reports and entering data for US companies. Now we are making S/w also. Auto companies were just doing assembly, now they are designing own cars. The component companies are also developed now. Same happen in defense, in power sector and will happen in Chip-Semi conductor industry also. This fool does not understand this. But yes we need to spend more in education and skilling. But for that first we need to create jobs.
Mr. Raghuram is extremely good in giving GYAN (not going into right or wrong) for such a large country like India, I wish he can streamline one simple University started by him in Andhra Pradesh called Krea University, 5 years passed university is no where, still lacks good Talent to come and educate, facilities are completely sub standard. Wish he could handle this just one university and do stuff what has been promised to students several years ago. Can not even handle one University, wish he proves himself in this one assignment he took several years ago. Many students coming out of that university are not getting job, so would like to know what kind of work skill has been given to our young talent. Many students there are given subsidy in fees. I am not against it but if he is against subsidy for PIL why same principle not followed for Krea. ONE CAN GOOGLE AND CHECK OUT WHAT'S BEEN CLAIMED HERE
before becoming RBI g9vernor , what was his dose of interaction for the welfare of India . he was recruited into that position by Congress during that era , can he place on record what he get his mentors follow him . one great thing he did is to clean the NPA , much of this was absorbed by BJP government and nothing he did during the period of his stint when Congress was in power
I have a comment to make about economist like Mr Raghuram Rajan. First. They were on lag indicators and there also they interpret these indicators the most pessimistic manner. Now everyone knows that lack indicators are only telling you the past history. If an economy is on the upswing up swing, then looking at lag indicator is not going to give you any good information. They can only be useful for some people who want to beat you down because they are essentially reflecting the past mess which was created before the up swing activities started so I have pity on these kind of economist Who are constantly changing their assessment because they are not keeping track of the leading indicators. They are only trail. Such people are not good as economist there as good any lay man perhaps they are worst because a man is not even a pessimist
i was thinking of doing a master's from a foreign university or an IIM . But I recently got introduced to ISB by a video on youtube about their campus when I came across a coursera program of theirs. How good is ISB compared to the others ? If any ISB student is reading this could you tell me why ISB would be better than IIM or foreign? edit: Professor Bhagwan is really cool !
IIM Brand is better than ISB as ISB has big batch. Some professors in ISB are better than even IIMS and ISB guarantee better placement than many IIMs (fee is also almost double).
Health in the eighties, especially in the rainy seasons, I used to find lot of patients with small physicians waiting to get treatments. Now you do not find this. Partly this improvement has come through hygiene and communicable diseases have come down.
if 8 Lacs Indian students go abroad yearly for higher studies&Rs50 Lacs spent avg, Rs400,000 crores we r losing in GDP, almost 2 months GST collections -
❤ sir I've 30 years of experience in human anatomy and 45 years experience in English but Modi India wants me an unemployed most the time I raised voice against their policies ❤
The comments here tell me India will continue to disappoint both the optimists and the pessimists. The society/country at large has the governance it deserves. What society deserves varies state to state, hence the wide variation between states like UP and Tamil Nadu on one hand, and the Hindi heartland on the other
Absolutely correct ,Sir.Unless and until we don't focus on human resources,we will not reach our goal in 2047.We must provide the young better nutrition,health care and education
Look I agree to uh guys and your points who commented in this post. But let's see it in a different angle. He is criticizing the govt. in a logical and valid way unlike our opposition. It's not gonna shake Mr. Modi's stance but his points will be considered as options before making any policies. He is an ex-RBI governor. Just think of the amount of knowledge he possesses and the experience. I personally support his criticism because a right criticism always helps a right govt. to do his work more efficiently.
raaagu was a failure as rbi governor.. inflation at 10% NPA at 12% max loan defaults.. even the local shopkeeper is better than this con artist raagu!!
@@shssolutions6011 Definately bruh. Mr. Shaktikanta Das is a wonderful person. Most importantly under his leadership the RBI is keep on achieving things which are way superior than the predicted estimates. Huge respect for him🚀
Very valid questions. We should introspect and make India competitive instead of throwing money on subsidies. Invest in infrastructure, human capital, clear backlog of crores of cases, reduce taxes, focus on ease of doing business and remove red tape. All our problems will be solved automatically and India will prosper like you have never imagined. Jai Hind!!
His passion, the depth of understanding of economic pheneomenon around the globe, putting it into the Indian context and articulating it so beautifully - is so inspiring to young scholars! He might be criticised by the Indian "mainstream" but voices of dissent, from 'few' scholars that of Rajan's standing do more good for the country than the support of 'many' flagwavers!
Dude, I have even read his PhD dissertation, no doubt quite enlightening. No doubt, he is a product of great intelligence but that doesn't takes away the fact that 1. Economics is not a perfect science, his predictions and remedies have been way off the mark 2. His biases against the current regime is visible in his prediction about Indian GDP growth, how reforms will pan out etc. have been on negative side 3. As Raghuram himself mentioned at the beginning - Execution is key. As an armchair academician, he is way off from any execution. He lives in theory and assumptions
We must update our syllabus at school and college level and churn out professionals who are well -equipped to fulfill the demands of the job market.Our industries spend a huge amount on the fresh graduates every year.That can be avoided if our syllabus is upgraded.
It’s very nice to have a smart person like Dr Rajan to discuss economic issues purely objectively. I think in past sometime he mixed ideology with economics a lot and it back fired, it was unfortunate. It’s very important that all people regardless of their political affiliation should listen to Dr Rajan. His focus and obsession about Human Resources is very important and Nobel.!! His argument about PLI and other things are debatable….
Sad ISB is so desperate it brought this guy to India, we are very happy that we got rid of such negative and bitter people with narrow thinking who ridicule india, well we are thankful for a great prime minister in sri. Narendra modi who has made the world respect india in a small phase of a decade and we have proved this gentleman completely wrong. Hats off to the amazing talent in india we have no dearth of talent .
@@ragul3204raaagu was a failure as rbi governor.. inflation at 10% NPA at 12% max loan defaults.. even the local shopkeeper is better than this con artist raagu!! If you want advise go to local shopkeeper than this con artist
@@ragul3204raaagu was a failure as rbi governor.. inflation at 10% NPA at 12% max loan defaults.. even the local shopkeeper is better than this con artist!
I agree that even though we are 1 billion people and many are without work on the other hand homebuilders for example are going through a lot of struggle to find workers let alone ones who are trained, certified, there is no proper mechanism for the state to train and certify workers. Telangana should start training and certifying trades.
"You must be joking to believe to be a developed country " " Developed hoke kya karna hai" " 5% growth is impossible, we would be luck to get this" And he says he is not in politics and He loves india When Indians will stop criticizing India.
Manufacturing is one great sector bus that never leaves. You r certainly to be innovative enough to get into different market. No country can be great without manufacturing. Rajan is totally wrong when he said the manufacturing business has. Such persons in power have actually done the damage, even to certain extent Manmohan Singh….
He is complaining about mal nourishment we were better now than we were few decades back we’re gonna be even better if we elect good government like bjp compared to other parties I don’t know what his point is he’s strictly against manufacturing in India
He wants INDIA to be dependent on China for supplies Because Rahul Gandhi has signed an MOU with China that if his govt comes to power he will discourage manufacturing in India and increase imports from China
If anyone would be unemployable in India, it is Rajan because he is speaking in the interest of America. What's unemployment according to him? He presided over tons of fake currencies during his tenure of CEA and Governor of RBI.
Why do we need Chips, Mr RRR asks. The modern way of life Indians enjoy is impossible without chips. The same way we need dependable energy supplies, is the way we need reliable trojan-free chip manufacturing.
balaji chips are best say no to ruffles lays
We need people who get things done , not people who profess only.
Okay Andhbhakt!
He stopped giving predictions as it turns out people started questioning more and more now.
What has been done by Mr Modi ? Food price has rocketed.health service failed.
He is basically saying subsidize what I am asking you to do, rather than what you are subsidizing.
No, given a finite budget he is suggesting subsidies that will maximize gains. After all this is an optimization problem and not a matter of personal preference. We can not write off 35% child malnourishment or inadequate education as if it is the child's Karma. Malnourished kids will be permanently, mentally and physically stunted. We need to get the basics right(ex: value for life), and everything else including semi conductors will follow.
@@jamesrohangangavarapu9290
Your outlook is as lame as saying Bharat should build toilets before sending more rockets to space.
If anything at all, Bharat needs to invest a lot more in bleeding edge technology and methods, while being mindful of those areas you highlighted.
Stop being utopian.
It's an abstract idea with no basis in reality as we know it - at least not for the foreseeable future.
@@aryaman05 Your comment makes no sense. What he says is if we have 35% malnutrition, how can we have a good labour force in the coming decades be it manufacturing or services. We are not subsidizing the service sector. They are hiring because there is talent here. Why are we subsidizing the lowest end of manufacturing?
@@ragul3204
As others have observed, this bloke's comments are almost entirely cliched, i.e.: he's stating the obvious.
Did you think GoI isn't aware of the importance of its Human Resource, or what needs to be done on the so-called 35% malnutrition thing ?
Need some examples on 'lowest end of manufacturing' for a meaningful exchange.
In any case, think of such support as stopgap measure while main project matures.
@@aryaman05 Our government is aware of it but instead of fixing it they sweep it under the rug because it is a shame to accept it.
Assembling phones does not necessarily mean India will have a mobile phone company like Huawei in the future. It's not assembling phones but we are subsidizing it. It doesn't mean we will move up the manufacturing chain. Even today we can create a new mobile brand by just doing software and hardware design.
At 17:50, Dr. Rajan’s retort - simply awesome. “Why can’t I have a wider handle of love?” “Because Bhagwan you have a budget constraint. Haha”
He clearly has not tried the regular people's healthcare system. The American system is a real mess for everything. The queues are months long to get any type of appointment. The UK is better for basic and standard things, but anything more has a months long wait. I've been to a doctor in India. Same day appointment and only $5.
Gadhe, fir america kyon ja rha c..ye..cherry picking kr ke kuch bhi bakwas kiya ja sakta hi..majority indicators ki baat kr..10 me se 6 chize kaha better hi..
Developed countries have about 7 doctors per thousand population. India has 0.7.
So, we need to have 9 million doctor jobs for developed status.
Do this same assessment for nurses, police, firefighters, etc, and it soon adds up to hundreds of millions of children that need to be trained today if we are serious about developed country status in 20 years.
Raghu is the kind of man who has got thru life with a certain superficial smartness & competence. There are millions of Raghus in India...BUT MODI IS ONE AMONG MILLIONS. The sooner Raghu realises this...he can actually make some contribution to our national effort. If he wants to eke out a living on the basis of his supposed prediction in the past, he is living in La-La Land.
Andhbhakt ji
Sorry if he hurt your child ego, assuming what I know is true and all other possibilities are false, is sign of ignorance and stupidity. Do you disagree There are much economists than him.
We have a genius among us who knows more than RR
There are various economists in the world and India with an equal and/or greater calibre than Raghuram Rajan. But there aren’t many economists of his educational qualification and calibre who have held the post of the governor of the RBI who are willingly giving suggestions to improve the economics of our nation. And it is very weird to compare Modi to Raghuram Rajan, as we all know Modi has been elected by the people of the country to lead us as the prime minister, but it is also known that he doesn’t have the educational qualifications or most probably the sufficient knowledge of economics to be compared to Raghuram Rajan. Similarly Raghuram Rajan wasn’t placed in the rbi because he was elected but because of his competence in the space of the economics academia. And for the argument that there are millions of Raghuram Rajans but Modi is one among millions. If we say the Modi is one in a million, since the population of India is 1417 million there are 1417 alternatives to Modi in India, but roughly estimating, there will be less than 20 iit(madras/bombay/delhi) graduates in IIM Ahmedabad (on the higher side). So on considering for the past 50 years, there are still less Raghuram Rajans than modis. Now if we consider that he has a phd from a T10 university he becomes even rarer. 😅
haha.
❤one statement..Modi government and BJP should sacrifice for what they have done using radh yatra, disown themselves, say sorry and show the world that they are secular not fanatic ❤
One can not expect better from a person for whom Rahul is still a PM in run…
What's he wrong about on the economy?
Bhakt trigerred
Obsessed with Rahul??
You do chinta.... Don't go into economy... Not your field of expertise
Do you understand economics?
What Rajan said true!!! In my locality many kids have no schooling!!! Is it the way to improve our beloved?
❤ Raghuram strongly wants to say economically Modi has isolated Indians❤
If we have chip manufacturing base here , tomorrow we wont have a shortage of them , and also since a large requirement is there in defence , and also lot of startups will jump start.
When you have security threats, you can not depend on others. If China attack us in future and we need Chips (assuming China capture Taiwan) who will provide us the chips, all will start asking their cut or demand something ......this is why we need strong mfg base and also technology. This fool is not understanding this and promoting or Service led economy. Itna hi smart hota to PM nahi ban jata.
Smart he lands during all election season with his analysis ... not seen on days when India grinds
This guy is always criticising n talks as if his idea are the best, no wonder he was not given importance.
He is always given importance , that’s why Andhbhakts like you troll him . If you were truly educated, read the comments Nobel Laureates make on his papers . But I’m sure you’ll not be able to understand them.
First listen , then understand, contemplate, criticize him , thereafter criticize yourself, be objective and only then comment
Academics can never give practical suggestions
practicality is of no use if it is non-directional, for ascertaining/optimising on the best path, we need to include the suggestions of the academics... no superpower ignores its academics and those who do, the cease to be superpowers..
Right why are wasting time in Academics. We are born know it all anyway. Knows even english by birth.
So that's what your ITcell wanted you to type? L9l.
They never put boots on ground. He studied in IIT and then IIM but went to USA for work. So his experience is that of USA. Now he is making suggestions for India with little experience of real life. but ok.
I wonder he was associated with RaGa yatra, then looks like he realized that he is not going to win, so started his own personal publicity.
@@sidcoolguy7 well said
Because of these kind of people made our country devoid of semiconductors.
I don't think you know anything about semiconductors.
Nonsense! Please read up before posting.
@@ragul3204 oh really😏what damage has been done to our country by not venturing into manufacturing, who is answerable to that. He keeps on saying services but will it create inclusive growth, we are dependent on everything on China , tomorrow if something happens where is our industrial capacity.
@@drury2d8 oh really😏what damage has been done to our country by not venturing into manufacturing, who is answerable to that. He keeps on saying services but will it create inclusive growth, we are dependent on everything on China , tomorrow if something happens where is our industrial capacity.
@@shilpa3032- you can always try Taiwan. The bottom line is that China is not a war-like nation. Look, 130 nations have China as their #1 trading nation. Don't let the Media & Political elites😢 fool you, China seeks friendly relations with all nations. Their history bears this out.
❤ the stand point of India globally is far unrighteous than worse of some African countries that I and Raghuram sir knows ❤
He is a strong supporter of Congress. He talks about implementation. Isn't that the problem of Congress? There were a lot of ideas and planning during the UPA era but very little implementation. Hardly an expressway, airport, or railway station was built during the UPA era. So what is he talking about?
"I am a neutral academic"...what a joker. He will walk with Rahul beta holding hands and state India will be lucky for smaller % GDP.... He is just trying to sell his book thats why he's showing up on different talks
..gotta admire his tenacity, as I'm yet to see any sizable list of favorable comments on him, and yet he doesn't stop presenting himself at all these worthless talks, well almost worthless.😂😂
Haan,Papa toh war rukwa di.lol.
❤i love my country... but Modi India still see me as a traitor although I lived here 46 years and my forefathers 2000 years, Modi wants me still strive for my dignity... but I still love my country.... I'll not leave Modi unless he understands my India is a secular country and I'm a part of it. Let him take that strenuous step, I'm ready. I still love my country ❤❤.❤
While it is true manufacturing relative low value,one important thing is it employ a lot of people. So a balcing act between mass employment as well build top end of design
Malnutrition is the result of poverty in India. Govt is already giving 80 cr people free ration, what more can the govt do with limited budget. We need more manufacturing jobs where the skill requirement is lower than a service job, to bring more people out of poverty quickly. India has a huge population and need to do everything across the entire economic spectrum - from sending Satellites, building chips to building toilets, basic vocational training etc. A lot happening and a lot more would be required to do till 2047 to achieve a 10k$ + per capita income. When we started our Space Program, the world laughed and preached us saying we should feed our poor first before we take up such scientific challenges and spend money. Now the world is applauding the success of ISRO. Similarly we need to start on chips the future is electronics and computers in every simple tool or appliance that we use. We need not be 100% self reliant in higher end chis but at least in the high volume, low end chips we can be 100% be self reliant for faster rollout and better control. Raghuram’s baises are clouding his judgement.
I was also thinking the same thing. I mean this country reached here with bigger malnutrition numbers and even worse economic indicators.
Roti means 2000 calories of food per day,kapada means 50 meters of stitched new per year, rozgarr is 300 days employment at 1000 rs per day, makan is shelter as birth right at 150 sq ft fsi at coc basis. America is going to declare shelter as right.after carona spacial segregation,social distance factored in housing within a shelter and between shelter. Another important advise is land is 2 dimension but shelter is three dimension. But trouble is we have 80 lac circle rates decided by state govt used in the or rather confused by rbi for taking as collateral value. Thus the problem is fixed by utility value of land . Meaning when any peace of land is given as collateral esp for banking system now onwards to arrive at space creating figure and arrive cost of construction rather rely on state circle rates. Thus means same fsi,same construction cost and same sq ft rate meaning we are ready for one nation one housing through the newly formed ministry of cooperation. This means 3 to 8 member dwelling priced at same rate,same ,specification all over country viz at 12,24,33 lacs we gets houses if 450,900,1200 sq ft shelter. So the guest speaker and students st esp ISB this called Dravidian model of eradicating shelterness universally. I am the co author of this concept. 42000 sq ft fsi at coc at 2500 rs per SQ ft is 15 trillions dollars as house with housing coupons through rera rbi for 35 cr households as fundamental right state wise, through a chief shelter commissioner,land comp bonds,first mortgage ,second mortgage bank,limited purpose construction banks,1,2,3,
... 8,9,10 rated construction banks. Mal nutrition answered the calories baseed revamped civil supplies. What amritya sen,Abhijeet bannerjee. Forgot reason for inequality and powerity is colonial method of value land but it is by valuing land by fsi index . Agri is zero fsi,barren land,and shelterable space creating land and so on. Happyness index to 1 from 136. Reg capacity 25 cr acre for Agri,10 cr acre for pre and post Agri,cattle,wind mills,solar etc and 609 de sal plants if 10 cr ltr per day,35 lacs acre 2.7778 fsi indexed land comp bonds GDP dies not matter,mortgages as a percent of GDP not accepted,density of population is wrong.....we are going to get 2 Nobel prize for economics and second for international understanding and peace. Let us debate,discuss. Let us switch to indifference curve based land valuation,,prof , Samuelson's revealed pref theory and prof Brahmananda semibombla ,leontiff input output, Pareto welfare principles.. we are theoritcally correct in our Dravidian model of eradicating shelterness universally. Just implemented. Let us see see BJP or Congress in their manifesto.
the need for having to feed 80 crore itself is a testament that there is wisespread poverty still
@@sidcoolguy7 yes you are right we need to seperate homeless and houseless,marginal titled,ever rent payers,first shelter seekers . Ministry of social welfare and ministry of cooperation,seperation of Agri and Agri related lands,barren lands,shelterable space creating land,33 year old structures as deemed barren land and so on we need a uniform central policy to be followed by all states is dravidian model of eradicating shelterness universally is what we want. Happyness index matters not GDP. Let us move to 1 from present 136.
Mukesh Ambani earns ( Revenue of) Rs 10 Lakh Crores & GiveJobs to just 3,80,000 people......Adani Group earns ( Revenue of) Rs 2.5 Lakh Crores & give Jobs to just 43,000 people.....State Bank of India earns ( Revenue of) Rs 4.3 Lakh Crores & gives Jobs to just 2,32,000 people.....& TATA Group earns 12 Lakh Crores & Give jobs to just 10 Lakh people..... Capitalism is winning
His performance as Governor RBI was not satisfactory. He should see how much better they are today, since he left.
What Raghuram says may have some meaning, but he needs to talk about geopolitics. If India doesn’t facilitate manufacture of chips, they will move to other countries where they will learn to design them! Second, the design will still be controlled by US and there is nothing to gain for India. On the other hand if we have design, development and manufacturing, then our engineers and manufacturing companies will learn end to end of chips, which I think is important for India for the future!
About training and skilling, I agree, and I sent a message to Mr. Modi to have industry train the unemployed youth in India for 1-3 years based on education level, absorb the best, and let others to find their way after!!
I have read few articles between 2004-2014 during congress tenure they were discussing about manufacturing but it didn’t materialise as expected it’s congress like it tech industry we would have been giants in manufacturing we lost 20 years
Lol. If this "quality education" could get us chips, why don't we have any chip manufacturing plants rn? Most Indian people who are from talented enough to make these chips are from IIT, IISc etc. (top colleges), but still chose to move abroad either for a job or to pursue their Master's/PhD. Because THERE ARE NO (major) CHIP FACTORIES IN INDIA. It's kind of like the chicken and the egg problem, you don't have a world class factory capable of producing the latest cutting edge chips -> you cannot retain the top talent in this country -> because of which you don't have a world class chip factory.
Now let's assume what he is saying is right, we invest in our education system and somehow build colleges competing with MIT, Harvard etc. and we get the top talent in India, what's the guarantee that they would still stay in India after they finish their education. Now let's assume, even after all this, they somehow stay in India and decide to build a factory, the only company in the world that can build the equipment to make the latest chips is ASML. Now would they give preference to you (someone whose name no one has heard of), or to some big name like TSMC, Intel or Samsung.
So, it's much better to invest in something solid, to get your feet off the ground, and then slowly invest in more quality education as he said. You cannot just blindly build schools and expect things to fall into place. Sometimes, you have to carve out a way for the water to flow.
But after all this, someone still says "what's the importance of chips", please throw away your laptop/mobile/tablet/TV that you are watching this on.
❤ the medical necessity of India is such that every Indian including I am malnourished, our doctors overprescibe, there's no fee schedule put up for an E&M not for hospital revenues. The traditional medicine is never regarded. Modi wants to take tantrums of superstition that beef consumption is illegal and other superstitions spread via media and take political advantage of it. You know what I being a poor Indian citizen targetted corporately several times. But almighty sees me....i don't want to say anything more ❤
❤ you want to say democracy is not India begen then a government threatening religions are a dictatorship ❤
❤ democracy and freedom of speech curtailed ❤ what else is needed to perspire that India is not a democracy ❤ the slogan of expelling Christians and Muslims from the country by a defence minister, how Haggard and awesome begun❤stop these tantrums first and then nominate electrols ❤
From 1947-1991 congress delayed economic reforms , license Raj uneven development even wealth distribution scams corruption wastage misuse etc hurt India badly imf bailouts 2004-2014 scams corruption economic standstill
It’s always easy to say what could have been done.
We shouldn’t forget india couldn’t even produce a pin at the time of independence
@@ub1961 😂 really lmao not even a pin
@@ub1961 Wow. as if the other economies like china were making smartphones
@@User-mncbjlfjrebxkl China started as a manufacturing hub for the world whereas we have always been growing our manufacturing based on domestic consumption.
1947-91 was not a lost period because most of the best IITs,IIMs, DRDO,etc were built during this period which are still thriving
Our main problem is that many people do not want to migrate to get a job. There are more than two crores people in south India migrated from the North. Equal number of south people have found job elsewhere. There is under employment. Job is not available in front of your house. This has to be accepted.
Why Nobody want to talk about how "The Elephant in the Room" (Indian Caste System) is stopping India's progress from past 1000 years (Including years after so called Independence)! Because without proper education of the hardworking class (So called low caste) India can't innovate in manufacturing sector and without innovation India can't progress in future. Or may be stuck in middle income trap. 🤔😒🙏
Today,Many CEOs of Big Indian MNCs are Of Tamil Origin,BUT, Many of them are UPPER-CASTE,Becoz DMK-AIDMK Discriminated against Upper Castes in Tamilnadu,They migrated to Mumbai, Bangalore, Ahemdabad,Gurugram,Delhi and Pune etc to Show their Talent and Became CEOs through Hard Work and Talent,Not through Reservations or Discrimination and Many Big Businesses in India are also Established by Gujarati Upper Caste Hindus,Marwaris, Jains and Parsis Becoz they had Entrepreneurial Culture and Even Today Modi Govt allowed 1 Lakh+ Startups to Rise, Everyone is building a Startup to Showcase their Talent and Create Employment and Build Indian Modern Industrial Base
I can give a point to point rebuttal to everything Raghu is saying, one doesn't need Prof. Bhagwan for that.
One apple example he want negate power of manufacturing
Bajaj Tvs are selling two wheelers and auto rickshaws in Africa and South American countries Airtel is invested in telecom in Africa
The educated author misses an important point - when you have a large poorly educated populace, doing manufacturing makes sense because it can employ a large number of people.
Nothing he said had come true - so, he’s an expert at everything!!
He is a smart man but his suggestions are cliches
I think the suggestions are cliches because most educated and smart academics give the same ones. Thus it is ours and the government’s role to take these into account and make decisions.
So you want him to suggest different things in every interview?
Developed countries have about 7 doctors per thousand population. India has 0.7.
So, we need to have 9 million doctor jobs for developed status.
Do this same assessment for nurses, police, firefighters, etc, and it soon adds up to hundreds of millions of children that need to be trained today if we are serious about developed country status in 20 years.
He is not an entertainer bro. Try to get your entertainment dose from someplace else
@@ddb0831 2.6, 4.0, 3.9, 7, these are all numbers much higher than 0.7 - so it's totally irrelevant what is the precise number. Even to get to 1.4, India will need to double the seats in medical colleges. Focusing instead on building temples will only make us more sick and incompetent.
Both the host and the guest- simply remarkable. A good host leads conversation into insights. This happened. Thanks
❤ maybe in the past 45 trillion uk took, but you are still a cronie to sustain in your dictatorship ❤
We want Modi ji in 2024 and in 2029. Also we want Anti-Hindu and Anti-India Corrupt Criminal Congress Party, Left Parties, Leftists, Communists, and Jihadis Mukt Bharat
Respectful dialogue with diversity (20 Crores) wd be welcome. Disrespect with othering may jeopardize, way forward.
And we want Modi and BJP mukt Bharat in 2024!!! Modi and his Gujarat lobby can go and create temples which is the only good thing they can do for the nation in name of development!!!
Investing in IIT and IIM have little guarantee that they will stay in India for adding any value to nation. Spending on factory assures guaranteed return like employment to Indians and reduced dependency on other nations for chips, which is essential for today's world.
The investment can attract other MNc as well.
If you want IIT/IIM to be funded, ask the Alumnis who went abroad to donate the fund for development of institutions.
Take eg of Einstein Medical School where the alumni donated USD 1 billion to institution making all student free of debt and tuition fees.
Nice observation.
so true
without any industry to absorb the highly skilled worker most IIT'ians will either move to USA for masters or prepare for UPSC
@@JayP-m1z it's hardly unlikely they will not get jobs here. It's just they want better lifestyle.
You did your education at IIT, but it did not impart you the skill to work, which you learned from organisations. All of us are like that. So do not blame education.
He served as RBI Governor?? Please do a fact check.
He is discounting the fact that US Dollar is reserve currency and has endless printing machine which artificially inflated the values of all tech companies and also serves as competitive advantage over entire world!
don't under estimate raghurram rajan. he is the only economist who predicted 2008 recession. and very visionary.
Yes and that was the only prediction he got right. Everything else is just guesswork of the third order.
@@parikshitsharda4377- Read his papers you fool . Then you’ll understand the depth he has on finance and banking . But I’m sure you’re not educated to even go through them , let alone understand them
Why do i get the sense that RR is himself unconvinced of his anti manufacturing argument, but is rather trying to defend a predetermined debate point
Best guest ever.ISB standards need to be raised for such a high quality guest
28:08 his actions looks like TRUMP, even though his Role was MODI😀😀😀😀
I really like the interviewer- blunt, to the point, yet respectful - a rarity in India.
I agree with Dr. Rajan on all counts.
Especially import substitution bit on education. I came to the US and studied at a world class university because I couldn't get into XLRI. Had there been more XLRIs in India, I would definitely have not spent so much more money to study here in the US.
In India, the competition to get into good schools is enormous and takes the focus and efforts out of actual education and research, and reduces it to focusing your faculties on cracking entrance tests.
I realized the fact that it's okay I'm not smart enough to be in the top 0.001% to get into XLRI, but smart enough to be in top 1-2%. Which to my mind wasn't bad given both the quality and quantity of Indian students appearing.
In a top US university, I need to be in the top 15-17% given that's the rate of acceptance of good universities here.
That bolstered my chances of quality education by 17000 times. And 17% are still at very selective universities.
One of my colleague who was one of the toppers in the university in under graduation. I was her classmate in Delhi School of Economics department of sociology she scored 60% marks which is pretty good considering standards of marking in Delhi School of Economics she finished her PhD from Jawaharlal Nehru University scored good grades in Mphil program as well was teaching at one of the premier institution as an Ad Hoc faculty but because of some strange reasons was not selected as permanent faculty member. One need to ask where is idea of merit in a very conventional sense gone, its not just her many of my friends and colleague had to leave University . I can simply say these four five individuals were best among my contemporaries who are pursuing Sociology and social anthropology as a career
Don't discount. There is huge truth in his statement for the good of all of us. Fools only criticise good suggestion. If you don't look back to find your failures you will never improve.
Except that this wisdom never dawns upon them when they are in the seat or have power.
The political system and economic system are in compatible?
Wow these people are isb students they are giving him a round applause 👏 we had budget restrictions before it &tech services boom we have invested in it look now
Abey ITcell ka mazdoor. Chal hatt!
IT Cell worker - go read about IT services , it thrived solely on the grit of entrepreneurs. No government did any investing - it’s a footloose industry . Now google all the terms before blabbering your useless opinion again
@@dapartyrokr congress cell worker I was talking about land and subsidies etc given by the government
I thought Professor Bhagwan could speak like an academic, but he has taken the stance of a common man .... ignorant but very opiniated.
Maybe because economics is not always rooted in ground reality. Professor took the proper approach in my opinion. The common man doesn't think about statistics or neo classical economy theory
I am impressed by the critical point made by former governor Raghuram Rajan😍
My query is Prof Raghu Sir, Abhijit sir, Rohit sir are all advisors to India's Tamilnadu state Govt- so why to Tamilnadu Govt they are not insisting on Govt spending to be more on Higher education institutions creations, training institutions creations, and skill gaps filling agencies - instead of the TN Govt also spending money on manufacturing sector subsidies, spending more money manufacturers investors meets
Please make the 30 second Interaction where Dr Rajan says that we have a budget constraint ( time stamp 18:00 ) into a reel. It will go viral
raagu is proposing a country of 1.4 billion should ignore manufacturing and focus on design!
1.4 billion, uneducated people in villages no less
I think RRR is completely unaware of the current status of India.
We are manufacturing phones in India we are manufacturing and exporting in defence
Every big industry starts with small steps. Today you are assembling, tomorrow you will open more companies who will make other components, and slowly companies will also start designing them. Automotive, IT sector grew in same fashion. We were doing body shopping in mainframes, preparing reports and entering data for US companies. Now we are making S/w also.
Auto companies were just doing assembly, now they are designing own cars. The component companies are also developed now. Same happen in defense, in power sector and will happen in Chip-Semi conductor industry also.
This fool does not understand this. But yes we need to spend more in education and skilling. But for that first we need to create jobs.
Mr. Raghuram is extremely good in giving GYAN (not going into right or wrong) for such a large country like India, I wish he can streamline one simple University started by him in Andhra Pradesh called Krea University, 5 years passed university is no where, still lacks good Talent to come and educate, facilities are completely sub standard. Wish he could handle this just one university and do stuff what has been promised to students several years ago. Can not even handle one University, wish he proves himself in this one assignment he took several years ago. Many students coming out of that university are not getting job, so would like to know what kind of work skill has been given to our young talent. Many students there are given subsidy in fees. I am not against it but if he is against subsidy for PIL why same principle not followed for Krea. ONE CAN GOOGLE AND CHECK OUT WHAT'S BEEN CLAIMED HERE
He contributed to ISB . See where it is now . #1 in India and #30 in the world
before becoming RBI g9vernor , what was his dose of interaction for the welfare of India . he was recruited into that position by Congress during that era , can he place on record what he get his mentors follow him . one great thing he did is to clean the NPA , much of this was absorbed by BJP government and nothing he did during the period of his stint when Congress was in power
I have a comment to make about economist like Mr Raghuram Rajan. First. They were on lag indicators and there also they interpret these indicators the most pessimistic manner. Now everyone knows that lack indicators are only telling you the past history. If an economy is on the upswing up swing, then looking at lag indicator is not going to give you any good information. They can only be useful for some people who want to beat you down because they are essentially reflecting the past mess which was created before the up swing activities started so I have pity on these kind of economist Who are constantly changing their assessment because they are not keeping track of the leading indicators. They are only trail. Such people are not good as economist there as good any lay man perhaps they are worst because a man is not even a pessimist
i was thinking of doing a master's from a foreign university or an IIM . But I recently got introduced to ISB by a video on youtube about their campus when I came across a coursera program of theirs. How good is ISB compared to the others ? If any ISB student is reading this could you tell me why ISB would be better than IIM or foreign?
edit: Professor Bhagwan is really cool !
IIM Brand is better than ISB as ISB has big batch. Some professors in ISB are better than even IIMS and ISB guarantee better placement than many IIMs (fee is also almost double).
Health in the eighties, especially in the rainy seasons, I used to find lot of patients with small physicians waiting to get treatments. Now you do not find this. Partly this improvement has come through hygiene and communicable diseases have come down.
Thank you for the unsugar coated discussion.
End rmploymrnt of iit snd iim students in public sector companies?
This guy Raghuram Rajan should stay in USA and not allowed to come to India. His OIC card (if any) must be withdrawn. He is NOT A NEUTRAL ACADEMIC.
One of the intellectual minds we have in INDIA.
if 8 Lacs Indian students go abroad yearly for higher studies&Rs50 Lacs spent avg, Rs400,000 crores we r losing in GDP, almost 2 months GST collections -
❤ sir I've 30 years of experience in human anatomy and 45 years experience in English but Modi India wants me an unemployed most the time I raised voice against their policies ❤
good...u shud be put to permanent rest..
The comments here tell me India will continue to disappoint both the optimists and the pessimists. The society/country at large has the governance it deserves. What society deserves varies state to state, hence the wide variation between states like UP and Tamil Nadu on one hand, and the Hindi heartland on the other
Absolutely correct ,Sir.Unless and until we don't focus on human resources,we will not reach our goal in 2047.We must provide the young better nutrition,health care and education
He is legend . Some may disagree with his opinion but his suggestion should take this goverment seriously
Look I agree to uh guys and your points who commented in this post. But let's see it in a different angle. He is criticizing the govt. in a logical and valid way unlike our opposition. It's not gonna shake Mr. Modi's stance but his points will be considered as options before making any policies. He is an ex-RBI governor. Just think of the amount of knowledge he possesses and the experience. I personally support his criticism because a right criticism always helps a right govt. to do his work more efficiently.
raaagu was a failure as rbi governor.. inflation at 10% NPA at 12% max loan defaults.. even the local shopkeeper is better than this con artist raagu!!
Our current RBI governor is doing a great job.... thousand times wiser than this sham
@@shssolutions6011 Definately bruh. Mr. Shaktikanta Das is a wonderful person. Most importantly under his leadership the RBI is keep on achieving things which are way superior than the predicted estimates. Huge respect for him🚀
We do it simultaneously
UPI was not Nandan’s idea - it was Mr Hota of the NPCI in 2012. To make it easier to use they came up with UPI.
Very valid questions. We should introspect and make India competitive instead of throwing money on subsidies. Invest in infrastructure, human capital, clear backlog of crores of cases, reduce taxes, focus on ease of doing business and remove red tape. All our problems will be solved automatically and India will prosper like you have never imagined. Jai Hind!!
His passion, the depth of understanding of economic pheneomenon around the globe, putting it into the Indian context and articulating it so beautifully - is so inspiring to young scholars!
He might be criticised by the Indian "mainstream" but voices of dissent, from 'few' scholars that of Rajan's standing do more good for the country than the support of 'many' flagwavers!
he is a hack with no credibility left except among the anit modi sychophants
Dude, I have even read his PhD dissertation, no doubt quite enlightening. No doubt, he is a product of great intelligence but that doesn't takes away the fact that 1. Economics is not a perfect science, his predictions and remedies have been way off the mark 2. His biases against the current regime is visible in his prediction about Indian GDP growth, how reforms will pan out etc. have been on negative side 3. As Raghuram himself mentioned at the beginning - Execution is key. As an armchair academician, he is way off from any execution. He lives in theory and assumptions
And more than tsmc, it's asml which has monopoly, no one else build the lithography instrument but asml
Great observation RR.
We must update our syllabus at school and college level and churn out professionals who are well -equipped to fulfill the demands of the job market.Our industries spend a huge amount on the fresh graduates every year.That can be avoided if our syllabus is upgraded.
Heavily flawed argument manufacturing
How will you MR Rajan give you job to low end of educated youth ?
Something’s are going well like removing him from his governor position.
That’s the best thing that happened
It helped India
NO DOUBT THOUGHT PROVOKING ACADEMIC DISCUSSION ON CURRENT ISSUES IN RELATION TO ECONOMICS.
It’s very nice to have a smart person like Dr Rajan to discuss economic issues purely objectively. I think in past sometime he mixed ideology with economics a lot and it back fired, it was unfortunate.
It’s very important that all people regardless of their political affiliation should listen to Dr Rajan. His focus and obsession about Human Resources is very important and Nobel.!!
His argument about PLI and other things are debatable….
Sad ISB is so desperate it brought this guy to India, we are very happy that we got rid of such negative and bitter people with narrow thinking who ridicule india, well we are thankful for a great prime minister in sri. Narendra modi who has made the world respect india in a small phase of a decade and we have proved this gentleman completely wrong. Hats off to the amazing talent in india we have no dearth of talent .
Give me one reason why you don't agree with him. He clearly explained why he is not against manufacturing but only against subsidizing it heavily.
@@ragul3204raaagu was a failure as rbi governor.. inflation at 10% NPA at 12% max loan defaults.. even the local shopkeeper is better than this con artist raagu!! If you want advise go to local shopkeeper than this con artist
@@ragul3204raaagu was a failure as rbi governor.. inflation at 10% NPA at 12% max loan defaults.. even the local shopkeeper is better than this con artist!
@@Dk-uh4no He served as RBI governor from 2013 to 2016. Inflation was high before Raghuram Rajan came.
@@ragul3204 raagu screwed things further.. raagu and mannu left a scorched earth before they left!!
Loved this
I agree that even though we are 1 billion people and many are without work on the other hand homebuilders for example are going through a lot of struggle to find workers let alone ones who are trained, certified, there is no proper mechanism for the state to train and certify workers. Telangana should start training and certifying trades.
"You must be joking to believe to be a developed country "
" Developed hoke kya karna hai"
" 5% growth is impossible, we would be luck to get this"
And he says he is not in politics and
He loves india
When Indians will stop criticizing India.
We are providing electricity houses toilets water free food grains health insurance in 2024 roads sanitation etc thank you congress
He is an amazing teacher wow mind blown.
Manufacturing is one great sector bus that never leaves. You r certainly to be innovative enough to get into different market. No country can be great without manufacturing. Rajan is totally wrong when he said the manufacturing business has. Such persons in power have actually done the damage, even to certain extent Manmohan Singh….
He’s crying over 2 billion dollars subsidy state government wastes misuses funds in billions
‘ Nandan did it and I took credit’ ‘success has many fathers ‘ . Telling 😊
Education gives us wider horizon. Organisations will pick up and impart training. This is true with all.
10:42 logic is simple. To keep our people employed and busy because this high value added phases need less people. We have huge population.
35:56 Only time in entire session, I agree with this.
He is complaining about mal nourishment we were better now than we were few decades back we’re gonna be even better if we elect good government like bjp compared to other parties I don’t know what his point is he’s strictly against manufacturing in India
He wants INDIA to be dependent on China for supplies
Because Rahul Gandhi has signed an MOU with China that if his govt comes to power he will discourage manufacturing in India and increase imports from China
If anyone would be unemployable in India, it is Rajan because he is speaking in the interest of America.
What's unemployment according to him?
He presided over tons of fake currencies during his tenure of CEA and Governor of RBI.