Dr. K V Subramanian CEA, GOI about Union Budget and Economic Survey | IIM Kashipur

 

New Delhi: IIM Kashipur hosted Dr. K V Subramanian, Chief Economic Advisor, Government of India as the guest speaker for the Tejas Series, a webinar initiative, organized by the Corporate Relations Committee. In the series Tejas, eminent personalities from various Industries and Institutions share valuable Information from their experiences to our students. This flagship talk series of the Corporate Relations Committee, saw many eminent personalities from diverse fields engage and interact with the students. Industry stalwarts, including but not limited to, Ashish Chauhan – MD & CEO, BSE, Richard Rekhy – Board Member, KPMG Dubai, Soumen Ray – CFO Bajaj Auto aided in widening the students’ intellectual horizons.

 

Dr. Krishnamurthy Subramanian currently the Chief Economic Advisor to the Government of India,n is a leading expert on economic policy, banking, and corporate governance. A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, he authored the path-breaking Economic Survey that commends “Ethical Wealth Creation” for a prosperous India. His idea of Thalinomics – what a common person pays for a vegetarian or non-vegetarian thali – has been acclaimed as the Indian Big Mac Index. The slew of reforms implemented in the COVID economic package draw on key reform ideas advocated by him in the Economic Surveys of 2019 and 2020. He was also awarded the Ewing Marion Kauffman Foundation Dissertation Fellowship – an award given to top 20 PhD dissertations across all disciplines at the University of Chicago. He is currently on leave from the prestigious Indian School of Business, where he is a Professor of Finance. Dr. Subramanian has worked with leading financial firms such as ICICI and JP Morgan Chase and has also previously served on several expert committees and was also the Founding Board Member at Bandhan Bank.

Dr. Subramanian started the session by saying “The Economic Survey outlines how enabling of markets and the private sector has created prosperity and ethical wealth creation” through which he emphasized the various aspects of economic survey and its impact on different sectors. He helped the student fraternity to understand how the economic survey helps shape the reforms that are taking place in today’s world. He also emphasized the importance of thinking behind the big changes with respect to privatization and also laid focus on wealth creation. He highlighted three principles for the long term GDP growth which includes how the Monetary and Fiscal Policy work in tandem to raise both demand and supply, how CAPEX and revex enable growth without having high inflation, and how multiplier effects are increased when Govt spending is focused on Capex more than Revex. He gave intriguing insights derived from the Economic Survey and the impact of policy responses with respect to pre-COVID levels. It was an interactive session where the guest addressed the queries of students on a wide range of topics such as inflation targeting, quantitative easing, health reforms, and disinvestment.

 

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