New Delhi: Chief Economic Adviser Arvind Subramanian spoke exclusively with NDTV on Narendra Modi government’s one year in power.
Here are some of the highlights from his discussion:
- I see Make in India as a long-term strategy to make the Indian economy competitive.
- There’s been a big institutional change via economic federalism, states are more empowered.
- Give me any advice, I am willing to consider, PM Modi told me.
- Fair amount of structural reforms in one year.
- Massive turnaround in macro-economic situation.
- Private investment still weak, needs to pick up.
- Public investment can never substitute private investment.
- If monsoon is poor, have enough food stock that we can release.
- Don’t want to say everything is perfect, but more can be done now, than 15-18 months ago.
- Growth hasn’t picked up as much as people expected, or expected as a result of action.
- People judging us by outcome, not effort.
- 3 levers to help farmers’ income: MNREGA, crop insurance, minimum support price.
- All the things coming back to bite us are legacy issues…but we are moving forward.
- We want to prescribe policies that take into account reasonable political restraints.
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