Worst Decision Of RBI, Demonetisation, PM Modi & Indian Economy - Dr. Raghuram Rajan | FO151 Raj Shamani
Dec 23, 2023
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Dr. Raghuram Rajan, Economist and author of Breaking the Mould: Reimagining India's Economic Future, discusses the role of RBI Governor, the reasons behind inflation, the banning of 2000 rupee notes, P.M Modi and Manmohan Singh, and his new book. They also touch on India's potential as a world leader, the RBI's decision-making process, comparing PM Singh and PM Modi, India's role in the global landscape, China's strategies for economic growth, India's strongest capability in services, and the salary and perks of RBI government officials.
Start saving early and diversify investments for financial stability.
Promote India's services sector and emphasize openness and innovation for global leadership in ideas and creativity.
Deep dives
The Importance of Saving and Diversifying Investments
It is crucial to start saving early and have a diverse range of investments to secure financial stability. Savings provide independence and peace of mind, while diversifying investments mitigates risks and increases opportunities for growth.
Constantly Improve Yourself and Seek New Challenges
In order to have a good job and financial security, it is important to constantly improve oneself and seek new challenges. Keep learning and growing in your current job, but don't be afraid to move on when you stop learning. Look for new, better, and more interesting experiences to continue your personal and professional growth.
Recognize India's Strength in Services and Promote Tourism
India's strength lies in the services sector, and it is important to recognize and promote this aspect of the economy. India should emphasize its welcoming and inclusive nature, highlighting the diversity of the country and its rich cultural heritage to attract more tourists. Developing the tourism industry can create numerous job opportunities, especially in areas like hospitality and travel.
The Need for Openness and Innovation
To become a superpower in ideas and creativity, India must emphasize openness and innovation. Encouraging knowledge exchange, investing in education, and building a creative ecosystem will help unleash India's potential as a global leader in innovation and intellectual property.
In today’s episode of Figuring Out, we have Raghuram Rajan in conversation with Raj Shamani. He is an Indian Economist and has served India as 23rd Governor of RBI. Currently, he is serving as Vice- Chairman at the Bank for International Settlements.
In this episode, we talked about what is the role of RBI Governor, what’s the actual reason behind inflation, how to keep it under control and why 2000 rupee notes were banned. He also shared his views on P.M Modi and Manmohan Singh. We also talked about his new book ‘Breaking the Mould’ and discussed my favourite chapter from that book. We then discussed the India Canada controversy and his views on it. I asked him which are the three countries according to him that could be at the top in the coming years and the countries he named were something I never expected but as he explained, everything made sense. Towards the end I asked him what did America and China do right and become so successful and what is India doing wrong to not reach where it should have reached by now. We also talked about how much an RBI Governor earns on an average and this answer will shock you for sure! We ended with discussing 3 financial tips that every young India should know and follow. This episode is a gold-mine of knowledge for every Indian. If you love this episode, then don’t forget to subscribe to our channel, we come up with new episodes every Wednesday and Saturday. Follow Dr. Raghuram Rajan Here: LinkedIn - https://www.linkedin.com/in/raghuram-rajan Timestamps: