Ila Patnaik previously served with the Finance Ministry and Reserve Bank of India on multiple working groups, and is a published author and researcher on economics.
In an interview to CNBC-TV18's Latha Venkatesh, C Rangarajan, Former Chairman of PM's Eco Advisory Council, Ila Patnaik of NIPFP, Ashima Goyal, Professor at IGIDR and Himanshu, Prof of Economics at JNU spoke about India's 70 year growth story and the road ahead.
"The bank notes exchange is a smart move from a political perspective. However, it could disrupt commercial transactions for a while and slow down the economy. Moreover, this does not eradicate the deep roots of corruption.
"Certain efforts are now being made, but the last two years should have seen far greater action... The core problems of the economy require a substantial reforms programme which is not, as yet, visible," said Patnaik, a former Principal Economic Advisor in the Finance Ministry.
In order to boost foreign fund inflows into India, a Sebi study today suggested a slew of measures including simpler registration norms for overseas investors and removal of various quantitative restrictions in the government bond market.
With inflation rising and industrial growth falling is the country caught in what could be a double buying? If it is, which should be the priority and what are the implications for the fiscal deficit target? Experts discuss.
In an interview with CNBC-TV18’s Shereen Bhan, Ila Patnaik, Senior Fellow, National Institute of Public Finance and Policy (NIPFP), gives her budget report card. She says, she is very disappointed with the UPA’s performance on the economic front.