Prof. C Rangarajan, an Indian Economist and Ex-RBI Governor of India delivered a public lecture on "Journey of India's Reforms" on March 10, 2017 (Friday), at 4:00 PM in PP Gupta Auditorium, IIM Ahmedabad. Copyright @ 2017
opportunity cost of this lecture was very low . M thanking myself for coming on youtube and watch this and saves my time watching something else which could be less valuable than this .
Indian Universities and Institutes like IIMs and IITs need more Professors like Dr. Rangarajan... A true intellectual, unlike many who view a Faculty position as A secure government job with pension for a lifetime !!... And unlike an increasing tribe of Faculty who are preoccupied with number of publications to showcase themselves as intellectuals!!
This speech alone is just enough to understand the situation of Indian Economy before 1991 New reforms. Superb Sir....you are simply an Asset to our nation.
To Prf. Rangarajan, I know you are concerned with India and want your country to develop and be successful. Could you please look into the idea that if a society is relaxed, complacent and happy, such society cannot follow instruction, no matter how good the leaders are. On the other hand if a society such as India becomes more frightened, intense and hard working like the Chinese development can quickly occur, please see for explanation, ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-F9hvfLhH1jQ.html or please read the book Evolutionary Alarm Sounds within Languages, by Chris Oszywa
22:00 rbi issuing gold 43:00 land acquisition act and the sugar industry 45:45 subsidizing the liquor industry by the states 47:00 agriculture prices and Marketing act 50:00 fall in investment rate and incremental capital output ratio
If politicians study economics & political science & listen to his lectures India would have been global leader. Govt should insist that all politicians have the minimum qualification expressed above sensible persons will not indulge in corruption. Educated Indian are highly intelligent snubbed by poor knowledgeable politicians. Excellent speech.
He literally ported us to the period of post liberalisation. I was a kid back when all these things happened. I have heard many discuss about the economic crisis of early 1990s and how liberalisation paved a better path to the prosperity of the nation but his speech enlightened me with details... he clearly started by explaining the root cause of the problem and took us through the entire journey till the resolution. From his speech I could clearly understand the gravity of the situation, the cause and the solution we found through policy reforms. The growth and improvements the various reforms and liberalisation of early 1990s brought in are impeccable and we should attribute the kind of lifestyle and growth we have today to the reforms that were made back then. Of course as he rightly mentioned this not the end and we are posed with many challenges in the present we cannot deny the fact that the liberalisation period was a turning point in the history of indian economy.
Such a far - sighted, intellectual & visionary man. Even at this age, he possesses such razor - sharp acumen over matters. I wish I could've seen him in action in his youth.
45:00 Sugarcane industry - Sugar Mills had to obtain a monthly release in terms of allocation.....a distance (D) criteria was instructed. Molasses price control strategies around 1991 & 1997. Molasses were not allowed to be exported to other States. Classic case of subsidising liquor 🥃 industry. Prices were fixed with these transparency. Land reforms to vegetables prices need to be addressed in current year 2023.
Very nice session Sir.. Spectacle decisions were being made by the good leader at the most crucial time.. Your contributions were tremendously helped in our Indian economy reforms to thrust forward our country towards the potential GROWTH & DEVELOPMENT.....
The main problem of 1991 crisis pertains to shortage of foreign exchange. Government had fixed rate of exchange before 1991 and you have to apply for it and somebody in government will examine it and allocate it. So allocation of foreign currency was not based on market price.the reform of 1991 allowed the play of market forces in determining the exchange rate. So devaluation of currency was natural course and was to be done with or without IMF advice.
Thank you sir for sharing your experience and valued suggestions for india's development. Your expertise in the field and intellectual role indebted me and many others to your greatness.
The irony of India is, why does she get into so much trouble and stay in a perpetual state of chaos, poverty and underdevelopment even when intellectual giants like Prof. C Rangarajan/MMS have been around to steer the country's policies. The root cause of the mess I would suppose is because intellectuals who seem to know operate only at the fringes of governance when the mess is created by nincompoops who come elected by the masses. We have seen how the economic structure and its destruction happened in the last couple of years without any consideration for the larger repercussions of say, DeMo might bring with it.
The root cause of India's troubles is systemic. For several centuries, India's economy was dominated by the rent-seeking strategies of the East India Company. Gandi fought for a "land to the tiller" form of land reform, but this merely mitigated systemic landlordism in rural India. The rent of land remained privatized. And, it is in the cities where the rent of land is highest, where speculation in land is pursued as a path to great wealth (with the side-effect of imposing great poverty on the many). The analysis and solution is found in Henry George's remarkable book, "The Land Question," first published in 1881.
People who are misinformed that Manmohan Singh brought the 1991 LPG reforms must watch this lecture to know it’s the IMF that forced India to adopt these reforms…no matter what govt was there at the time, they had to go through these reforms..
Why there is no growth because there is no investment. Why there is no investment because there is no growth . I can only laugh and laugh. Pay taxes and wait for growth or investment. Best wishes for 2019 economic analysis and new set of reforms stalled projects no growth no investment followed by analysis just laugh and have a nice day
Per capital income Analysis for growth is a myth on BLINDING masses.. You get a job from a corporate..and throw your all salry to another corporate where you still run to earn more or to load more debt..
with due respect to the great man of this century, why does we follow some model, why not the then govt gone back to our traditional model, or made a new model suitable for us?
But the crux of the matter chess chest was at vp & report was pending of 1881&2652 & police y = Virna Pandey Misra wasn't appointed at any pvt & public sector except your financial institutions
44:00 How are Fair & Remunerative Price (FRP) fixed by central government and State Advised Price (SAP) fixed by state government different from Minimum Selling Price (MSP)? While FRP and SAP are different versions of the price for sugarcane that need to be paid by the mills to farmers, MSP or Minimum Selling Price is the assured price of sugar for mills. Prices of sugar are usually market driven. You know these days Bihar Nira & Wine were quite in talk than molasses a by-product of sugarcane industry... U know Portugal were good expoter of liquor to Britain. I have never been to USA so far but yes been to EU countries while course of study. MSP, SAP, and FRP are very important price control strategies. 🎉 09.06.2023 🌧️🌡️🔵🔴
सी बी रंगराजन समिति बीरेंद्र राज गवर्नर बीरेंद्र वित विधेयक अनुच्छेद 112 परिभाषित कानून विधायिका न्यू आन्ध़ा प़देश विजयबाढा 100लाख करोड़ बीरेंद्र राज गवंर्नर भारतीय रिजर्व बैंक न्यू नोट करेंसी
Poor lecture.rbi worst performers in government since 1948. They could not keep price stability of land and consumer goods. Despite this being its main duty of price stability as per rbi act. Surprised that people liked this man
The irony of India is, why does she get into so much trouble and stay in a perpetual state of chaos, poverty and underdevelopment even when intellectual giants like Prof. C Rangarajan/MMS have been around to steer the country's policies. The root cause of the mess I would suppose is because intellectuals who seem to know operate only at the fringes of governance when the mess is created by nincompoops who come elected by the masses. We have seen how the economic structure and its destruction happened in the last couple of years without any consideration for the larger repercussions of say, DeMo might bring with it.
