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CEA Arvind Subramanian's Swan Song | India Development Debate

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Published on Jul 12, 2018
Call it the swan song from Arvind Subramanian. The outgoing chief economic advisor, an eminent economist in his own right, says Govt may have missed an opportunity to use the oil windfall to pump-prime the economy thanks to some fiscal hawks. Subramanian once again raised the red flag on the NPA mess, cautioning that he is not sure if banks will be able to clean up their books in the next couple of years. By his own admission, the bankruptcy law is a much better alternative to his own idea of a bad bank. On broader economy, Subramanian says it is impossible for India to have a one-rate GST structure, although the number of tax slabs can come down to three in the near future. There is also a suggestion to have an independent fiscal council, which could function as an unbiased chronicler of the Indian economy. On privatization of state-owned banks, he says the ICICI mess may have weakened the argument for a sell-off of the government's stake. Watch this India Development Debate as Supriya Shrinate analyses the hits and misses of the Modi government's fiscal policies in the light of Subramanian's suggestions. WATCH | Financial Tips With Porinju Veliyath? Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ? Subscribe Now To Our Network Channels :- Times Now : The NewsHour Debate : To Stay Updated Download the Times Now App :- Android Google Play : Apple App Store : Social Media Links :- Twitter - Facebook - G+ - Website -
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