Renowned economist and NITI Aayog Vice-Chairman Dr. Arvind Panagariya is a staunch supporter of the demonetisation exercise. From globalisation and growth to border tax by US President Trump and merchandise exports, he discusses various topics this week on Off Centre with Anuradha SenGupta.
Feeling quite positive about growth in the next fiscal year – 2017-2018, Arvind Panagariya says, “Starting 17-18 fiscal year we will be back to 7% plus growth rate trajectory.” Defending the RBI and demonetisation, he says, “In a decision like demonetisation, it has to be a decision in which the sovereign is deeply involved, it is not something that a single institution within the country can take or will take; it has to be a joint decision in which both the Central bank and the sovereign are partners, have to work in tandem together. To think that a major thing like that where the sovereign has to be necessarily deeply involved, only the Reserve bank will take the decision and call the shots that’s completely a lack of understanding of the whole exercise.”
Speaking about the talk of border tax by the Trump Presidency, Panagariya says, “We must certainly resist it; it is not a good idea, not a good thing to happen.” On merchandise exports, Arvind Panagariya says, “The pie (merchandise export market) is extremely big, it is 18 trillion annually, our problem is what slice of that pie we are able to get, we are getting a tiny slice of it – 1.6%. The issue for us is can we increase our own share to 4-5%.”
Catch the full conversation on CNN-News18 this Saturday at 8 PM and Sunday at 9:30 PM & 12:30 PM
