Sanjeev Sanyal Returns - Indian Economy's Past, Present & Future | The Ranveer Show 339
Sep 12, 2023
auto_awesome
Sanjeev Sanyal, Economist and author, talks about India's growth as the 5th largest economy, income brackets, and tax evasion. The episode explores the correlation between economics and governance, addressing poverty, and reforms for efficiency in the economy. It also discusses the unpredictability of the future and the need to study the past for predictions.
India needs to focus on new round of reforms to sustain and further boost the economy.
By targeting absolute poverty, India aims to bring the poorest people to a basic level and enable them to participate in the growing economy.
Process reforms, modernization, and investment in resources are crucial for improving the functioning of India's judicial system and driving its development.
Deep dives
Importance of Economic Growth and Reforms
Economic growth is essential for improving people's lives and reducing poverty. India has undergone liberalization and reforms over the past few decades to open up the economy and create growth. This has led to a period of rapid growth, but now the country needs to focus on new round of reforms to sustain and further boost the economy. Process reforms are required to smoothen out regulations and improve efficiency, while attention needs to be given to sectors like judiciary and bureaucracy to address bottlenecks and enhance the functioning of the economy.
Targeting Absolute Poverty
To address poverty, India has adopted an approach of targeting absolute poverty rather than purely focusing on income inequality. By bringing the poorest people to a basic level through initiatives like providing gas, health insurance, and building houses, the aim is to enable them to participate in the growing economy and reduce absolute poverty. This approach recognizes the need for direct support for those who require it, while also encouraging self-sufficiency and participation in the broader economy.
Challenges and Future Reforms
India faces challenges like a large number of pending cases in the judicial system and outdated processes. To address these, process reforms need to be undertaken, modernizing the system, simplifying complex rules and regulations, and investing in technological solutions like artificial intelligence. Additionally, the government needs to invest in resources and work in partnership with the judiciary to improve the functioning of the system. These reforms, along with sustained economic growth, are key to driving India's development and improving the lives of its people.
The Challenges of Economic Growth
The podcast discusses the challenges faced by India in achieving higher economic growth. The speaker highlights that while India is currently the fastest growing major economy in the world, there are limitations to pushing for even faster economic growth. The world economy is slowing down, with global trade and exports decreasing, which could negatively impact India's trade balance if it tries to forcefully increase its growth rate. It is important to strike a balance in driving economic growth and maintaining macro stability, considering the global situation and the state of the economy.
Unpredictable Nature of History and Technology
The podcast explores the unpredictable nature of history and the impact of technological advancements on society and the economy. The speaker emphasizes the difficulty in predicting the future and warns against relying on experts' grand plans or deterministic views of history. History is complex and constantly evolving, with unforeseen consequences and unintended outcomes. The speaker suggests that flexibility, adaptability, and the ability to seize opportunities as they emerge are key to success in a rapidly changing world. The discussion also touches upon the need for regulations and oversight in emerging technologies like artificial intelligence.
Check out my Mind Performance app: Level SuperMind
Android - https://lvl.fit/androiddownload
Ios - https://lvl.fit/iosdownload
Join the Level Community Here:
https://linktr.ee/levelsupermindcommunity
Follow Sanjeev Sanyal's Social Media Handles:-
Instagram - https://instagram.com/sanjeevsanyalauthor?igshid=ODM2MWFjZDg=
Twitter - https://twitter.com/sanjeevsanyal?t=DSkjAEFPoWK4dY7RYhxD1A&s=09
Facebook - https://www.facebook.com/AuthorSanjeevSanyal?mibextid=ZbWKwL
In today’s episode, we welcome Sanjeev Sanyal on The Ranveer Show. He is an Indian economist, popular historian member of the Economic Advisory Council to the Prime Minister of India, and helped prepare six editions of the Economic Survey of India starting in 2017. Sanyal has written several books on Indian history with mixed reviews.
Today Sanjeev sir talked about India becoming the 5th largest economy in the world, he shared his point of view on India’s growth in the past decade, and he broke down the income brackets of India and how the government manages all of them. He also dwelled upon how the world is getting more decadent with the development of technologies, and how tax evasion affects it.
Today’s episode was an in-depth look at the Indian Economy and how the Indian Government is looking towards the next few years. If you liked our previous episode with Sanjeev sir, this will be another episode about the Economy, India & more. I hope you enjoyed this conversation and do share your opinions in the comments!
(0:00) - Sanjeev Sanyal x Ranveer Allahbadia begins
(4:06) - How India became the 5th largest economy in the world
(6:31) - His view on India’s growth
(15:31) - Income brackets of India
(22:21) - Growing the pool of income
(26:16) - 2023 & next five years of India
(32:39) - How tax evasion affects the Government
(41:45) - Economic reforms - last 9 years
(47:05) -Bureaucratic and judicial system of India
(52:07) - AI in the Indian Government?
(59:30) - Can billionaires change the direction of the economy?
(1:01:23) - Thank you for watching
(1:04:48) - End of podcast
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
