Bangalore International Centre in collaboration with Indian Institute for Human Settlements had arranged a discussion on “Economic Survey: Taking Stock of the Indian Economy” by Dr. Arvind Subramanian, Chief Economic Adviser, Govt. of India. The event was moderated by Mr. Nandan Nilekani, Infosys Co-founder and Former Chairman, UIDAI, Govt. of India, on Monday, 22nd June, 2015 at 6.30 PM at IIHS Bangalore City Campus.
In a scintillating and wide-ranging talk, centering around the pre-budget “Economic Survey” which he had authored earlier in the year, Dr. Subramanian took a close look at the post-budget Indian Economy. He drew attention to the three big ideas, which were later on fleshed in the budget proposals, underscored in the “Economic Survey (2014-15): (1) Survey for Public Investments, (2) Cooperative Federalism in the fiscal relationships between the Centre and the State Governments, and (3) the JAM Trinity Solution (Jan-Dhan Yojana, Aadhar and Mobile)”
As he developed his theme relating to the close nexus between the Economic Survey with its three big ideas and the budget proposals, he highlighted the boosts given to the public investments by the suggested policy reforms to facilitate legal mechanisms for exit by the Corporate Sector when the situation so demands. He felt that this would energise the somewhat weak and sluggish Corporate Sector to pump in more investment in areas crucial to the economy. Similarly the acceptance of the major recommendations of the Fourteenth Finance Commission is a big boost to Cooperative Federalism. And Finally the JAM Trinity Solutions through DBT, Mobile Transfer of Money And a network of business correspondents would certainly revolutionise the economy.
Dr. Subramanian’s lucid expositions and charming informality completely mesmerized a large appreciative audience, including those who heard the talk through live audio-video streaming.