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Suit-boot ki Sarkaar: Former Chief Economic Arvind Subramanain

Arvind SubramanianAll Business National News 
  • Former Chief Economic Advisor said this during a lecture in the US
  • Said – In the first term of the Modi government, there was a thought to reduce corporate tax.
  • Rahul Gandhi called Modi government a suit-booted government in October 2014

Former Chief Economic Advisor Arvind Subramanian said on Friday that the government was considering reducing corporate tax 4-5 years ago but later rejected it. The suit-boot government also reduced corporate tax difficult. Subramanian said this during a lecture at Brown University, USA. Let us know that in October 2014, a former Congress President Rahul Gandhi called the Narendra Modi government a suit-booted government. Finance Minister Nirmala Sitharaman announced the reduction of corporate tax last month.

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Even demonetization is not a judgment without foresight: Subramanian

Subramanian termed UPA-2’s tenure as paralysis and Modi-1’s tenure with foresight. He said that the Modi government’s foresight gave people’s essential goods and services like bank accounts, toilets, cooking gas. They must accept this. While there were challenges in implementing other reforms, there was no lack of foresight. Even demonetization cannot be called a judgment without foresight.

Raghuram Rajan called Subramanian’s statement strangely

Former RBI Governor Raghuram Rajan disagreed with Subramanian’s claim. Rajan said that it is strange to call demonetization foresight. There is foresight behind every decision, but the question is – is that foresight compatible? Is she going to take the lead?

Rajan also expressed concern that investment in India is decreasing compared to other countries. Whereas, there is a need to increase growth. He also referred to Arvind Subramanian’s study on GDP growth that questioned the growth assessment. Rajan also said that before 2011, investment, credit growth and export-import in India was sufficient. After that everything went down except for GDP growth figures.

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