Decades ago, the great trade economist Jagdish Bhagwati observed that India’s “misfortune” was to have almost too many “brilliant economists, an affliction that Far Eastern super-performers were spared”. In his latest book, Breaking The Mould: Reimagining India’s Economic Future, co-authored with Penn State professor Rohit Lamba, Rajan begins well by explaining why the Narendra Modi government’s subsidies to boost the …
Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on Thursday hit out at former Reserve Bank of India Governor Raghuram Rajan for raising concerns over the government's performance-linked incentive scheme, saying that he used false figures, questionable analysis, and advice of unidentified "industry experts" for his research paper. The imports linked to mobile phone manufacturing are merely $22 …
Former Reserve Bank of India Governor Raghuram Rajan has questioned the sustainabilty of the Centre's production-linked incentive scheme. Rajan in a LinkedIn post said that Apple using India for cell phone assembly is no proof that PLI is working. Rajan said, "The 20 per cent tariff on mobile phone imports before PLI started may be reason enough for Apple to …
For over a decade, the share of manufacturing in India’s GDP has remained in the 15-17 per cent range, with various measures by the present and past governments barely helping the needle move. Targeting 14 key sectors, the scheme, with an outlay of Rs 1.97 lakh crore, aimed to create national manufacturing champions, 6 million new jobs and additional production …
India is blessed with lots of Nobel laureates, economic experts and academic geniuses that mostly reside abroad and that too mostly in the Anglo-Saxon world. Now RR has come out with yet another bizarre speech – this time he says “world cannot afford India to become another manufacturing powerhouse like China”. To pander to this lobby, and hope to use …
