Arvind Subramanian: We Have to Fight Carbon Imperialism
High Energy Planet
The former chief economic advisor to India’s government on how climate policy has become disconnected from energy needs of poorer countries, the politics of India’s electrical tariffs and why he thinks renewable energy has yet to be proven economically viable there.
Introduction to floating rate funds with Arvind Subramanian
With interest rates at all-time lows, these are tricky times for fixed income (debt) investors. The consensus view seems to be that we are done with the rate cut cycle and the RBI may gradually start increasing rates. Most debt fund categories have delivered handsome returns in the past 2-3 years given the series of rate cuts. But if the rates start increasing, investors will have to moderate their return expectations. Given this backdrop, a lot of people have started talking about floating rate funds and how investors can use them in a rising rate environment. But the reality is that it is not quite that simple. Coincidentally, IDFC Mutual Fund has just launched its floating rate fund. So, we caught up with Arvind Subramanian, fund manager & head of credit research at IDFC Asset Management to learn how these floating rate funds work and if how investors should think of them in a rising rate environment. In this conversation Arvind talks about: How his journey in the markets began The current Indian interest environment What are floating rate funds? How do they work What are interest rate swaps and how are they used to create synthetic floating rate bonds Investment universe of floating rate funds Role of a fund manager How floating rates perform in rising and falling rate environments Whether floating rate funds are a perfect hedge for rising rates Where does a floating rate fund fit in a debt asset allocation framework? Risks in these funds Return expectations His personal investing philosophy and how he invests We also highly recommend you listen to this conversation with Suyash Choudhary of IDFC Mutual Fund on how to get your asset allocation right when investing in debt funds. This conversation perfectly compliments the conversation with Arvind on floating rate funds. If you have any questions about floating rate funds or debt funds, do post them here. We'd love to hear your thoughts on this conversation. Hit us up on Twitter.
Kopi Time E034: Arvind Subramanian on the US, China, India, development
Kopi Time podcast with Taimur Baig
A wide ranging discussion with Dr. Arvind Subramanian, nonresident senior fellow at the Peterson Institute for International Economics and former chief economic advisor to the Government of India (2014-18). We talk about the risks to global growth, from deglobalisation to job-replacing technologies, independent of the damage from the ongoing pandemic. From climate change to the need for basic public goods to support growth, Arvind assesses the imperatives and tradeoffs. Arvind also shares his deep knowledge on China and India, about their fundamental trends, existing macro constraints, opportunities lost, and remaining potential. Arvind firmly believes that basic economic laws cannot be defied, but at the same time he draws insights from cutting edge research and eschews dogmatism. Fascinating conversation.See omnystudio.com/listener for privacy information.
A Dummy’s guide to ‘that’ paper by Arvind Subramanian
All is Money
This podcast tries to simplify the highly intricate subject matter that forms the basis of a very controversial paper published by Arvind Subramanian alleging that India has been overestimating its GDP by about 2.5 percent.--- Support this podcast: https://anchor.fm/shacast/support
Former Chief Economic Advisor Arvind Subramanian on India’s Economic Response to the COVID-19 crisis
YOU'RE INVITED: Join Milan, Tanvi, and Sadanand for a special LIVE episode of Grand Tamasha on Tuesday, May 19, at 11am EST / 8:30pm IST. Tune in as they break down the week's news - and join the live chat to ask questions! Add it to your calendar, and join the live show here. After a six-week nationwide lockdown in the wake of the COVID-19 pandemic, on May 3rd the Indian government commenced a calibrated relaxation of this unprecedented shutdown. To discuss the economic impacts of the crisis and what steps government can take to cushion the blow, this week on the show Milan welcomes back the economist Arvind Subramanian. Arvind served as the chief economic advisor to the Government of India between 2014-2018 and is currently a professor at the Kennedy School of Government at Harvard and a Senior Fellow at the Peterson Institute.Milan speaks with Arvind about how Indian authorities should respond to the economic crisis, the utter failure of global economic cooperation, and whether China’s reputational hit offers India an opportunity. Plus, the two discuss Arvind’s long-standing support for a universal basic income (UBI) for India and whether the country has the necessary infrastructure in place to deliver an effective UBI.
14: Arvind Subramanian on demonetisation, GST, loan waivers and the welfare state
Listen to Former Chief Economic Adviser Arvind Subramanian talk about the effects of demonetisation, problems in the way GST was implemented, the efficacy of loan waivers and why (in a welfare state) subsidies are an inefficient way of wealth distribution.
India's Strike on Jaish Camp Across the LoC, and Arvind Subramanian on Universal Basic Income
This week on Grand Tamasha, Milan Vaishnav sits down with Sadanand Dhume (Resident Scholar, American Enterprise Institute and Wall Street Journal columnist) and Sukumar Ranganathan (Editor-in-Chief, Hindustan Times) to discuss the aftermath of India’s targeted military strikes against Jaish-e-Mohammed (JeM) terrorist camps in Pakistan. The strikes were a direct response to the tragic February 14 JeM attack on Indian paramilitary forces in Jammu and Kashmir, in which at least forty Indian soldiers lost their lives. The three discuss the current mood in New Delhi and the implications for the coming general elections. They also debate the ramifications of the conflict for state politics in Jammu and Kashmir and the Bharatiya Janata Party’s (BJP) standing in the troubled state. Then, Milan speaks with Arvind Subramanian, the former chief economic adviser to the Government of India, about the idea of a universal basic income (UBI) for India. Subramanian was responsible for putting the idea of an Indian UBI on the policy agenda with his landmark proposal in the government’s 2017-2018 Economic Survey. Since then, several states have implemented modified versions of a UBI and both the Congress Party and the ruling BJP have announced their own income support schemes. Subramanian, who is currently a professor at the Harvard Kennedy School and a senior fellow at the Peterson Institute of International Economics, weighs in on the competing proposals and outlines his own proposal for a QUBRI (Quasi-Universal Rural Basic Income).
Arvind Subramanian: India’s New Tax Breaks Down Old Barriers
As economic advisor to the government of India, Arvind Subramanian helped design the country’s goods and services tax. In July of last year, the national GST replaced the patchwork of value-added, sales, and excise taxes levied by 29 states and the federal government. In this podcast, Subramanian discusses the benefits of the new tax with the IMF’s Chris Wellisz. He says the tax helped create a single internal market for the first time since independence. Their conversation is also featured in the June 2018 edition of Finance and Development Magazine. Arvind Subramanian, Chief Economic Advisor to the government of India
A Universal Basic Income for India? – Arvind Subramanian
The CGD Podcast
The Indian Ministry of Finance’s 2017 Economic Survey considers—though does not commit to—the idea of a large-scale experiment in UBI, or universal basic income. How would it work? What effects would it have? Arvind Subramanian—lead author of the Survey, chief economic adviser to the government of India, and a CGD senior fellow on leave—joins me to discuss the big ideas currently shaping India’s economy.