Thread by @PIBMumbai

📡Live Now 📡

Centennial Anniversary of Mumbai School of Economics and Public Policy

Chief Economic Adviser @SubramanianKri to address the event in a few minutes

🎥
@airnews_mumbai

Due to its academic credentials, the UGC recognized Mumbai School of Economics and Public Policy as a Centre for Advanced Studies during the mid-1960's

It is to our credit that we are the only Dept. in India to be recognized continuously for almost 60 years

- Prof. Abhay Pethe

If we look at the countries and the various measures taken by them to over the last year and a half, India stands out singularly as the one and only country that has instituted such path breaking reforms during this period

- CEA, @SubramanianKri

Live Now

Much like 1991 reforms that created a huge momentum of growth for over 3 decades (in the country), the (recent) reforms will indeed position India for a very high growth pace in the coming decades in a similar way

- CEA, @SubramanianKri

Live Now

CEA, @SubramanianKri explains about the philosophy that has driven the economic reforms in India

"I look at the economic thinking that has underlined the reforms for development in India as a tripod with 3 legs"

Live Now

The first leg is the objective we must have – for India it has to be macro economic focus on growth and growth alone combined with micro economic focus on efficient welfare to welfare programs

- CEA, @SubramanianKri about philosophy behind economic reforms in India

The second leg of this tripod is - thinking about wealth and wealth creation as a boon and not as a bane; reforms pertaining to privatization, asset monetization, enterprise policy focus on the private sector - all of these are derived from this particular leg

- @SubramanianKri

The 3rd leg is focusing on the virtuous circle – starting from private investment – that generates productivity improvement – enables job creation and enhance wages in the economy which then enhances consumption as there is more money in the hands of people

- @SubramanianKri

India will see GDP growth of more than 7% this decade

- Chief Economic Adviser @SubramanianKri while addressing the Centenary celebrations of Mumbai School of Economics and Public Policy

Read pib.gov.in/PressReleasePa…