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Noted Professor of Economics at MIT Abhijit Banerjee who was consulted by Congress Party on the NYAY programme had suggested a minimum income guarantee of Rs 2,500 per month, keeping in mind the fiscal discipline. Congress, however, announced a more expansive Rs 6,000 crore a month with an outlay of Rs 3.60 lakh crore. Banerjee who is in India to launch his new book "What the Economy Needs Now' which is being co-authored with 13 economists, including Raghuram Rajan and Gita Gopinath, Banerjee, speaks to Businesstoday.in editor Rajeev Dubey about the Scheme. Watch the Video now for full details :
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Former RBI Governor, Raghuram Rajan in an exclusive to India Today speaks to Rajdeep Sardesai and Rajeev Dubey, Managing Editor of Business Today on his latest book titled, The Third Pillar. In this exclusive interview, Raghuram Rajan opens up about the upcoming Lok Sabha Elections 2019, unemployment crisis, Minimum Income Scheme, the economic policies of the political parties and more. Watch the Video now for full details :
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Former Reserve Bank of India Governor Raghuram Rajan spoke to NDTV's Prannoy Roy on a range of challenges in front of the Indian economy today. Dr Rajan said the three biggest problems for the Indian economy today are the agrarian distress, the ailing power sector and the crisis in the banking system. The 55-year-old economist, who was the first RBI governor to not seek a second term in nearly two decades after his tenure ended in 2016, said government interference in institutions could affect both global and domestic investment. Mr Rajan's comments come amid a row between the central bank and the government over its autonomy. Watch the video now for full Details:
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"Former Reserve Bank of India (RBI) governor Raghuram Rajan on Monday said that monetary policy cannot be the answer to all the problems, adding that developed markets will crack if emerging markets slowdown.
According to Rajan, government must take necessary action to keep bankruptcy courts unclogged with small cases and debt resolutions have to take place out of court, with the shadow of bankruptcy essentially acting as an ultimate threat for promoters and bankers.
I think those are always weapons you have in the armoury, but it is important, and this is one place where we have made a very important move since the last crisis. It's very important that the RBI continue to signal as it has done so far; its concerns about keeping inflation on track, about raising interest rates, whenever appropriate to fulfil its inflation objective and that gives investor confidence that the rupee is not going to go into free fall. As ultimately, inflation will be under control and the rupee can get significantly undervalued, if it continues falling at these rates." Watch the video now for full Details:
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