‘Regulatory favours to big companies have created impression of non-level playing field’

Former Chief Economic Adviser Arvind Subramanian talks about why private investment isn’t picking up in India, why the bank cleanup is actually a subsidy to defaulters, and how Centre-state distrust is the main impediment to GST reform. Watch his interview with Deputy Editor TCA Sharad Raghavan in #ThePrintInterview.
---------------------------------------------------------------------------------------------
Exclusive content, special privileges & more - Subscribe to ThePrint for Special benefits: theprint.in/subscribe/
---------------------------------------------------------------------------------------------
Connect with ThePrint
» Subscribe to ThePrint: theprint.in/subscribe/
» Subscribe to our KZbin Channel: bit.ly/3nCMpht
» Like us on Facebook: / theprintindia
» Tweet us on Twitter: / theprintindia
» Follow us on Instagram: / theprintindia
» Find us on LinkedIn : / theprint
» Subscribe to ThePrint on Telegram: t.me/ThePrintIndia
» Find us on Spotify: spoti.fi/2NMVlnB
» Find us on Apple Podcasts: apple.co/3pEOta8

[@animesh_tiwary]

Love the fact that Mr. Arvind Subramaniam has lot of policy suggestions to throw at the government but himself hasn’t seen the expected outcomes of the policies adopted during his time with the government. This demonstrates it is much easier to suggest from afar but much difficult to practically execute.

[@wisdomhighschool9975]

Demonetisation was a clear example of Short-term Pain for Long-term Gain, Today India is a Digital Powerhouse, 46% of Global Digital Transactions happened in India in 2022 worth $ 1.76 Trillion Dollars,And it's only going to rise and reduce corruption, Increase Efficiency,Tax base and Security

[@nomulahemanth3109]

​@@SPrabhakar😂😂 Outcome is an Outcome,Nia No one on Earth Can reverse it

[@rajx7120]

We still haven't done labour reforms and made land acquisition easier. Farm reforms itself would improve agri sector investment.

[@VyomKhandelia]

It is very interesting that we talk of GDPR growth after inflation. Can Print publish this for the last 40 years (including UPA1 and UPA2. The reason is we say the inflation is high in India right now but I remember it used to be crazy in UPA2. Hence I am wondering what is the base GFP

[@mayankmeel9164]

It's really amazing to listen such an honest conversations.

[@_rohit97]

As a BJP supporter I say I mostly agree with him. But I feel his contribution should come within the govt and for that he needs to be less diplomatic and stop monkey balancing UPA and NDA. Its pretty obvious NDA >>>>>>>>> UPA in terms of the economy. If some libtards think otherwise plz listen to Mani Shankar Aiyar's brother Swaminathan Aiyar on modi and his economic policies. Also any big investor

[@jaydeepgadhavi5465]

Can we please talk about anything if possible on the demand side reforms ?

[@AnkitG12]

Thanks for the conversation. Got to know about our economy.

[@RKV0785]

IBC has been destroyed by the judiciary which already had 5 million pending criminal and civil cases still intervened and created inordinate delays in IBC as well.

[@rohiticku]

I did not hear anyone speak about electoral bonds being less relevant, until the data was made public. Mr. Subramaniam's is a typical case of ex-post thinking (expected names are missing so the exercise was futile).

[@DileepKumar-qt9nd]

Love it

[@saradhiroy]

Advisor to Punjab & TN speaks volume

[@nomulahemanth3109]

Punjab is in Financial Crisis and TN already has huge debts

[@ravindra7791]

When he says some people dont want IBC to succeed, who are these people. Is it the judiciary, politicians or the buercarats

[@Zambia974]

the pan with fire 🔥 on top 🎩 the magic

[@RKV0785]

Modi was not very foolish to believe that demonetization would stop black money and terror funding. Modi ji believed these measures would create a big hurdle. He succeeded to some extent, as can be seen from the desperation and anger of some politicians and businessmen. Poor people were not affected by demonetization Perhaps, COVID affected the poor people very badly

[@saradhiroy]

Is he also jobless like RRR

[@Zambia974]

Pan corner needs a regulation..

[@knrao111]

Very bad guys After enjoying government facilities started commenting now

[@abhinav5847]

he is still with govt. are you paying attention..

[@HRC294]

I don't care who wins at the center (I hope it is BJP) but they must keep this guy at an arms length!

[@rajx7120]

Will he talk about labour reforms and easier land acquisition? These are biggest reforms still pending. And these are politically challenging. And he will just ignore the politics against these. And of course, farm reforms would have helped with easing food inflation and improve supply-chain jobs and improve rural incomes which would in turn increase demand for wider industry. But AS : silence.

[@VyomKhandelia]

Indian entreprenuers have been bad at marketing and selling internatiknally. You acnnot produce for Inidia and i you produxe for international markets, you need to be also able to sell..

[@Zambia974]

What do you want to sell

[@ProjectIME_]

Really enjoyed hearing this conversation. Keep the good work The Print! Looking forward for more such unfiltered conversations (especially those without agenda).

[@visheshveera3242]

Still don’t understand why was he chosen as the Chief Economic Advisor to the Govt. if he wanted to criticise the same government.

[@anujsethi7845]

Koi sense is baat ka😂😂

[@pulkitgupta2434]

These people will never understand what integrity means. They are happy if India goes down the drains as long as someone doesn't say truth about their government/party

[@berserkhorimiya]

He was chosen to give honest advice not to suckup to those in power, it's unfortunate the guy in power prefers Yes man around him rather than people with integrity but in a country filled with people like you that's to be expected.

[@anujsethi7845]

@@berserkhorimiya biggest example is Sanjeev sanyal

[@libshastra]

@@berserkhorimiyabut he's not giving sound advice. He's just making sound bites.

[@Zambia974]

🤔

[@jyshetty1]

If has done all this then why Tamilunadu is crying… this guy has left agenda…

[@prabinthapa1]

You are intentionally inundating the discussion with tangential facts, seemingly in an effort to obscure the actual issue at hand. After all what can we expect from "Coupta" .

[@kitnanaai]

Hired gun and a backstabber of the TamBrahm community. Look at who he is working for and you would know his views of his past employer.

[@user-ne4ek3un5i]

Aligation only😂fact nothing said in this talk😂

[@abhishek_gupta1990]

Sorry folks, India’s share of non-China FDI has decreased because many FIIs are calling out our overvalued private and public markets! It’s a question of where they feel they can get better returns and not due to lack of level playing field.

[@abhinav5847]

wow these illiterates, who don't know E in economics are questioning the integrity of mr. subramanian

[@VyomKhandelia]

The big labour and land reforms ehich had started in modi 1.9 has not been achived. Maybe these can happen in modi 3.0. this will help attract foreign and Indian buisness to produxe.

[@sanjaykumardavid2365]

As usual,evasive.No ownership.Always defending himself orcshying away SPINE ISSUES

[@libshastra]

Glass half full, Glass half empty. Arvind Subramanian isn't a Raghuram Rajan but he's still a half glass empty guy. For eg: He says India's FDI is "collapsing", doesn't provide numbers or specifics or even contextual the current geopolitical situation i.e High US Interest rates is sucking up a lot of money globally. Most of this responses to the question is Half by Smart and clueless folks in the comments are heaping useless praises.

[@Zambia974]

do you see any glass

[@berserkhorimiya]

FDI as a % of global percentage has declined not in absolute numbers, you can look that yourself.

[@libshastra]

@@berserkhorimiyaand what's the cause of that? US interest rates.

[@berserkhorimiya]

@@libshastra Do you not understand english ? If us interest rate are the cause than it should affect everyone equally. We are attracting less FDI as a % of global FDI.

[@sbaskaran7638]

Desperate attempts on the part of both interviewer & interviewed ( their innate prejudice and bias come out) to see the glass half full. Playing “ devil’s advocate” aggressively. Devils are of course needed for writing stories.

[@krysha7959]

I just came here to see how much criticism does AS does. The minute I saw AS interiview in The Print I knew it will be Govt. bitching. The Print, you are like Kejriwal. You claim to be neutral, SG says pay for good journalism but being biased is not good journalism.

[@anujsethi7845]

I think you are biased who just wants to listen to one narrative