In this episode of The Rising India Podcast with Gautam Chikermane, Montek Singh Ahluwalia, one of the key architects of India’s 1991 economic reforms, delves deep into the past, present, and future of Indian economic policy. From his unique journey into the government to the monumental economic shifts that reshaped India’s future, this conversation covers it all.
We explore the core governance skills needed in the 21st century, the game-changing reforms of 1991, and how leaders like P.V. Narasimha Rao played pivotal roles in these transformations. Ahluwalia also tackles the big questions of today: Are short-term political interests undermining India’s growth story? Can good politics enable good economics? And what role do think tanks play in shaping India's future?
The discussion also touches on the balance between public and private sectors in education and healthcare, and the future of financial sector reforms. In a candid moment, Ahluwalia shares his advice for young economists and hints at what lies ahead in his own career.
In Conversation:
Gautam Chikermane, Vice President, Observer Research Foundation
Montek Singh Ahluwalia, Distinguished Fellow, Centre for Social and Economic Progress
Chapterisation:
0:00 - 1:04 - Teaser
1:05 - 3:43 - Intro
3:44 - 12:18 - Ahluwalia’s Journey into Politics
12:19 - 26:40 - The Idea Behind the 1991 Reforms
26:41 - 33:00 - How 1991 Reforms Reshaped India
33:01 - 37:56 - Finance Minister Manmohan Singh versus Prime Minister Manmohan Singh
37:57 - 47:45 - 1991 Reforms Success: Is Short-Term Politics Undoing It?
47:46 - 54:00 - The Role of Think Tanks in Indian Policy
54:01 - 1:04:29 - What Economic Reforms Does India Need Today?
1:04:30 - 1:11:36 - India’s Big Opportunity: Is It a Hit or Miss?
1:11:37 - 1:16:56 - Why Tamil Nadu Leads in Growth and Employment
1:16:57 - 1:18:50 - Paychecks and Accountability in Government Jobs
1:18:51 - 1:27:26 - Should Govt and Private Sector Collaborate on Education and Healthcare?
1:27:27 - 1:36:01 - The Future of India’s Financial Sector Reforms
1:36:02 - 1:44:37 - Why Is There Hatred Toward the Wealthy?
1:44:38 - 1:49:50 - Ahluwalia’s Advice to Young Economists
1:49:51 - 1:53:20 - What’s Next for Montek Singh Ahluwalia?
Tune in to gain insights from one of India’s most influential policymakers and learn about the future of India's economic trajectory.
The Rising India Podcast YouTube Playlist link: https://www.youtube.com/playlist?list=PLHu-cm5A_l80rW4I1Fb0NEZmj0DO7jPxG
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