RBI Was 'Prepared For Default' in 1990, Even Considered Selling Indian Embassies Abroad-C Rangarajan
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- Опубликовано: 13 сен 2024
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In an interview to Karan Thapar for The Wire to discuss anecdotes and details revealed in his book ‘Forks in the Road: My Days at RBI and Beyond’, which is published today, Monday the 7th of November, Dr. Rangarajan, who went on to serve as Governor of the RBI and later as Governor of Andhra Pradesh, revealed that in August of 1990, roughly four months before India approached the IMF, the RBI, then under Governor Malhotra, formally wrote to the National Front Government, which was in power in Delhi, to recommend it approach international institutions such as the IMF. Dr. Rangarajan says the government failed to act and calls this “a failure of political leadership”. He says the government was “reluctant to act either because it had not recognized the seriousness of the situation or because it was ideologically averse to go to IMF.”
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Mr Rangarajan's humbleness speaks of his wisdom and learning. Great interview again. I can really understand when he got a call at 9.30 AM and he had to say 'Jumped'. Also he has not scored anything on that answer unlike what we see now a days who are in power. What a wiseman he is. Bless you sir.
Someone protect this man and his program!
BJP has really enjoyed the fruits of hardwork earned by Congress regime & now we reached a critical stage which will certainly effect our country's economy & future growth if bjp will continue to rule the nation. Bjp is party which has a network of leaders who has the ability to hide the real facts from the general public . Most of our intellectuals know this very well but keeping mum due to personal reasons or something else to expose them. .
Meta case is Siddharth vardarajan in jail for 420 and dawash Kumar in mental hospital
@@sanjaylalverma7840 : spotted ! bjp itcell joker spotted
UPA government did NOT do any reforms and wasted 10 years and that's why economy was in bad shape from 2008 onwards. Growth from 1947 till 1991 under Nehru, Indira, Rajiv were less than 3 percent due to socialist policies. all reforms were done by Narasimha Rao, Vajpayee. Now Modi is doing some reforms like bankruptcy laws, GST etc.
@@nagbalkur1365 : it was rajeev who initiated reforms with the budget of 1985 under VP singh ….
@SalilReally when? Do you mean when UPA left? UPA also left with a looot for NPA, ever think of that.
Every single interview of Mr Karan is interesting & watchable.
Question the powerful is the right journalism. There's no meaning to Question the powerless in a democratic country like India
Thanks to IMF and World Bank for initiating reforms by giving pressure on Narasimha Rao and MMS government.
Very well put. Not giving credit to Congress party is the most astute way of describing this.
You haven’t described even 10 percent of the reasons for the reforms
Kudos to Rangarajan he appears to be a down to earth educated human being.
That astrology part reminds me of the quote, "the greatest trick the devil ever pulled was convincing the world he doesn't exist."
A great personality and Karan your interview makes even a noble laureate think twice to reply , great interview, governers are active in non bjp ruled states
Mr Rangarajan and Mr Manmohan Singh prevented the country from going to stage where SriLanka is. We faced the scenes that time . I have a book on this whole episode - to mention on new economic policies post this released in 1994. Written by Ms Namakumari and VS Ramaswamy.
No it was RAO .. these guys were technocrats
@@anuragbanerjee2879 you need to also find out what are these guys were doing from mid 80s for our economy.. most of us believe that 1991 was the start...
@@manish7808 both of then was in the bureaucracy
they both ruined India by giving away public assets to some bunches of thieves.
@@dipakbose2677 really?
Upright individuals like Dr. Rangarajan is the need of the day, not servile, morally bankrupt who are appointed to serve at the directives of the ruling dispensation. Sadly, we are not likely to witness any appointees with a moral conscience. Thank you for the discussion. 🙏🏻
"A moral conscience" ? What are you talking about ?
wonderful Interview. Mr C Rangagrajan was very weel respected RBI governor and also Governor of TN. thank you
Very good discussion.. thank you rangarajan ,karan thaper and @thewire team… 🙏🏼
Thanks
We all should be grateful to the legendary Dr. Manmohan Singh and team for bailing us out of economic depression in their period and bringing prosperity..
Totally agree.
They created the mess (erstwhile congress), so it was their moral duty to save the Indian economy. Narshimha was one of the best pm India had.
“History will absolve us from the accusations unleashed “
Was the statement of Dr Manmogan Singh !
He is fortunate to have this réaliséd not on it’s merits ;
But the successor happened to be a
“THUG Government “ .
@@elumalaiponnusami3949 why not on merit??? Dr. Manmohan Singh was the best Finance Minister of our time, not only India but other developed countries also have taken advice from him..
Manmohan Singh good finance minister, but useless Prime minister. That's all I will say
Very informative interview. Such interviews strengthen democracy and rule of law.
Is it not better for many listeners benefit to dub the discussion in the other Indian languages as well as in Hindi preferably.kindly would u please consider the request sir in the internet of many.I think that the talk is very much informative and useful sit
Going by the interview Rangarasan seems to be a seasoned person respecting our constitution and he expressed in the book explicitly!
But why he is hesitant to comment the actions of Governors with his own yardstick ?
Why he’s so diplomatic?
May be spineless ……
is it derogatory?
We should have never devalued our currency. Shameful corrupt incompetent ministers and incompetent rbi , poor Indian citizens have to suffer while elite will talk , talk and blabber without any labour.
Very respectful News channel appreciate your spirit very good interview
All khàlisstani and terr orist like this channel.. fuddu same like you
Of all the intellectual arguments that are made for and against the politicial parties, no credit is given for the extraordinary situation that demands action. It is the absolute moment of uncertainty that drives us to take action and from then - in hindsight - it becomes a milestone. In other words, the citizens can better evaluate a government's action during absolute uncertain times than when everything is normal. Perhaps even then, the credit is only due to bureaucrats such as Dr. Rangarajan.
Well now he is taking credit for bailing out india from financial distress but y is he not taking responsibility for not arresting the financial crisis while it was simmering. Y did he not take measures to safeguard the economy by ‘jumping’ without waiting for the govts direction just as he ‘jumped’ even before receiving the nod from the centre….His appointment as a governor now seems like a quid pro quo ….
our current FM cannt handle the scenes of 1990s and 2008-09. or rather 2001
Oh really. Our current FM is handling economy better than all the countries after pandemic. Forget about comparing FMs across time, just compare how things are faring currently across the world.
Why the H. E. Governor seems to be fumbling..
Thanks to subrmanian swami it was because of him we got 2 billion dollars of loan from imf unconditionally
Swamy was able to negotiate with Americans by allowing refueling of planes during gulf war
Fearless journalism or fake news journalism?
The Governor seems to have written some truths wrongfully.
Mr. Rangarajan is a fine example of RBI governor as well as governor of state. Very clear, frank answers. Highly appreciated by us the viewers. Well done both mr. Karan Thapar and Mr. Rangarajan.
That is why dumb FM never takes his advise even after chidambaram suggestion.
Did he mention subrmanian swami who negotiated with americans to get 2 billion dollars from imf under chandrashekhar government ?
That is how we were able to avoid default
Karan Thapar needs to allow the speaker to speak. His interruptions are too many, rude at times and doesn't serve the purpose
I don't think there were too many interruptions in this interview. To know what interruptions are, can watch some of the TRP channels - they are full of sound and fury signifying nothing.
In Shri Karan Thapar's interviews, his guests are mere props.
Here we have an Apex bank but we still lose trillions of $ through frauds committed by business, who run away with the money & enjoy the wealth in some carribean beach, My suggestion is, every loan dished out by any schedule bank which is say more than 50 lacs, must be vetted by the Apex bank with their signature on the cheque, making the Apex bank responsible for the same, will bring down banking frauds to nil, if not, then why have an Apex bank?
TOTAL WORKFORCE 90 crores
Unemployable workforce 14 crores
Employable workforce 76 crores
.
EM.PL.O.Y.E.D - (BOONED)
Total EMPLOYED
(20 crores or 22.22%)
.
TaxpayerEmployed 1.5 crores
NonTaxpayerEmployed 18.5 crores
.
Only 1.46 crore individual taxpayers filed returns declaring income above Rs 5 lakh in the financial year 2018-19 till February 2020. These include both SALARIED and NON SALARIED TAX PAYERS... representing 1% of India's total population out of 8.22 crores eligible tax payers as on July 2022. Only 24 lakh peoples have income above 10 LPA.
.
Only 2.5 lakh individuals have income above 50 Lakh per annum or 50LPA.
.
U.N.EM.PL.O.Y.E.D - (CURSED)
Total UNEMPLOYED
(70 crores or 77.77%)
Unorganised unemployed 26 crores
Dispondent unemployed 16 crores
Hopeful Unemployed 14 crores
Unemployable workforce 14 crores
2014 - 2022
Applicant 22 crores jobs given 7 lakh.
2022 - 2024
No net jobs but 1.5 crore job loss.
It was very revealing interview as usual being done by Mr Karan Thapar.
Delhi Durbar can't rule india at one stroke. Regional liberty is floated. Majority of MP is narrow minded With wipes. Only chief ministers should form govts in the Centre
आज की तारीख 09 नवंबर 2022 है। और
आज की एपिसोड 2. है। देश में एक ऐसी भी संस्था है जहां किसी भी तरह की कोई समस्या नहीं है,,,, क्या देश में जो भी ऐसे मामलों में सर्वे करते हैं,,, क्या सर्वे करेंगे कि देश की वह कौन सी संस्था है?? आजकल के हालात में क्या यह सम्भव है कि,,,,उस संस्था में किसी भी तरह की कोई समस्या, भ्रष्टाचार न हो। कोई भी मीडिया उस संस्था के बारे में, अन्दर के हालातों के बारे में देश की जनता के सामने उजागर नहीं करते हैं, तो अब इस पर सर्वे करें की देश की वह कौन सी संस्था है?? जय हिन्द, 09/11/2022.
Why has this guy shy of speaking out what he himself has docketed in his book; sounds weird. If he is so scared about what he’s written why the hell did he write what he’s written.
Speaking Vs writing,
J l nehru tried the language and customs based not fruitfull and reversed.
Congress had depute Bajpayee ji to address.
so much interruptions.. i really don't know at what age you will learn how to interview
Whenever I see Karan thapad I see a man suffering from constipation and trying to show he is alright and neutral.
He's always been like that. There is concentrated evil backed up down there.
सर में येही समझ रहा की सर्कार का आर्थिक निति जब गरीबी बड़ा रहा ये EWS का मतलब कया ?सर्कार एक तरफ EWS का सपख्या में बात करती हे लेकिन येही EWS बर्ग को बड़ा रहा.ये कोंसी निति ?सामने बिस्कुट ख्खिलाने की बात पीछे लात .ये सिर्फ धोखा और जनता को मुर्ख बना रहा .
If he is so chicken hearted,Mr Ragrajan should not have appeared on this show.
Arif Mohammad Khan must avoid this interview!😂
Never trust these people.
The default situation that manmohan singh was facing.....was created by whom ?
rajiv gandhi imprudent govt finances handling was the reason
1990 problem was the fruition of 40 years ideological mistake by the gandhis (aka congress) ... they need to own it .. I was a non-Gandhi congress man who saved India in 1991 .. RAO with help of Singh
Karan Thapar is sickening . If he wants to describe the political leadership of the day irresponsible, he can say that. Why does he want his guest to use the same phrase. Karan should allow his guests to say what they want to say.
Common Rajan sir, you know it, probably you are one of the very few who knows all the rules, speak out sir now chamchas are becoming
typical lutyen media. it's like missing the forest for the wood. the anchor is ONLY interested in politics and blame game, NOT the reason for that situation
"From 1960 to 1990, congress destroyed Indian economy, and in 1990, whole India was on sale "🤷. Let that sink in !!!
Uselss discussion. Seems ideas are run out
No wonder he was retired at the earliest chance. BJP and RSS are highly disciplined nationalist party.
No places for non Rashtravadi Gyaani logo. Sorry about that Beta, BUT with all respect to you, BJP looks unbeatable for 50 years. 😭🌷🙏🌷🙏
Apne mooh mia mitthu
@@NurulIslam-kc2jl thanks, I am glad you agree, Abhi Ram Rajya me Mazaa Karo for the next 50 years, Hena? Kyaa me Jutt Bola?
Fearless or 420 journalism Siddharth vardarajan dewash Kumar gang
Wire
Wire
Wire
Please henceforth give unbiased interview. Looooooooose talk and talk in favor of anti national tukde people
We can’t support, because you don’t support Hindustan.
I have read a lot of editorials by C Rangarajan g, never have i been so disappointed in him, d disappointment is visible on Karan's face too. Such a waste of an interview.
Moreover I doubt he has penned it.
@@AM-jr9lg hahaha, i didn't see that coming, this angle should b explored
Fearless journalism that makes unsubstantiated claims and when caught won't even apologize to effected party rather brazen it out
No wonder India has suffered too much under this governor. He is an atheist and a strong supporter of west it seems i say fak off to him.