To The Point with Arvind Subramanian

Описание: ''Technocrats need to speak out in public on larger reforms with utmost responsibility'' that's the message from the outgoing Chief Economic Advisor Arvind Subramanian . In an exclusive interview to Rajya Sabha TV , the author of four Economic Surveys and the man who rolled out two biggest financial reforms said that Chief Economic Advisor has to do a serious tight rope walking when it comes to preserving the economic intrests versus the political intrests. He said he was lucky to have a Financne Minister Like Arun Jatley who gave him enough freedom to manouvre within the given framework.

In reference to demonitisation , Subramanian reiterated that it had short term losses but it will pay off the country in the long run. In context with the Goods and Services Tax, outgoing CEA said that people will continue to question the timing of the reform but what one has to understand is the way how successfully the system responded to a change like this. Subramainan said that key to the success of GST was cooperative federalism and it could be replicated with other big proposed He even said that the economy had reached an equilibrium as far as shocks due to demonitisation and GST were concerned. Allaying fears on the current financial health of the country he said that the over all macro situation is much better, inflation is lower, growth is higher and country has more reserves. Subramanian emphasised that India has to reduce it's dependence on crude oil imports but given the current situation right now domestic economy will have to be cushioned well .

Hailing the government move on the lateral entry of the professionals into the government sector Subramainan said country needed talent from everywhere as the only determinant of a strong economic development was a strong state capacity. Arvind Subramanian who became quite emotional during the interview said that he will miss the Fiance ministry and he had already started having withdrawal symptoms after a scintillating four years with the present government. He said hwill move to Harvard soon and get back to his research and writing. On being asked whether he would like to contest elections , he quipped , that he will be an utter failure in politics.