Chief economic advisor to GoI addresses students at XLRI webinar

The Indian economy is making a V-shape recovery, and this decade will be the decade of India, according to Dr Krishnamurthy Subramanian, chief economic advisor (CEA) to Government of India (GoI). He was speaking through online mode at XLRI Leadership Talk Series, 2021 held on Saturday in Jamshedpur.

“The government is ready to provide help to every section with the assistance of digital technology. There can be economy only where there is efficiency,” he said.

Dr Subramanian said the Union government has set a target of administering one crore Covid-19 vaccines per day by September this year and thus recovery rate should be higher. “The second wave continues to decline, and the pace of decline is as fast as the pace of growth, with high-frequency indicators continuing their recovery,” he said.

The webinar was organized to appreciate and learn from experiences of leaders from all walks of life. It was introduced in 2017.

This year’s session commenced by introducing Gross Domestic Product (GDP) formula and then breaking down factors affecting the GDP and explaining the percentage increase in government spending to offset a slight reduction in consumption and investment.

“It was an enriching and enlightening experience to hear it straight from the expert’s mouth about the three underlying skeletons of the economic reforms, including the combination of focus on economic growth in macroeconomic level and efficient welfare at the microeconomic level, enabling privatization and considering creation as a boon and focus on the virtuous cycle,” said Sarveshvar TS, XLRI Executive-PGDM 2022, who moderated the question-answer session at the webinar.

Dr Krishnamurthy Subramanian, youngest CEA till date, is a leading expert on economic policy, banking, and corporate governance. He is an alumnus of IIT Kanpur, IIM Calcutta, and the University of Chicago. He has been conferred the Distinguished Alumnus Award by his Alma Mater IIT-Kanpur. His research in banking, law and finance, innovation and economic growth, and corporate governance has been published in world’s leading journals.

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