Dr Arvind Virmani visited the IIMB campus and interacted with the faculty and students during February 19 and 20, 2013. On February 20th, he gave a presentation on 'Indian Economy: Shooting Star, Sprinter or Marathoner?' at the IIMB Auditorium. The presentation indicated experience of fast growing economies over the last six decades. The interesting conclusions of the presentation were that policy reforms needed to sustain fast growth are not necessarily the same as those needed to accelerate growth; India is a potential high growth economy and to realize this potential India needs to take urgent policy actions to remove bottlenecks to growth, eliminate rents, and facilitate removal of supply constraints; There are a very few countries which have sustained high growth over longer periods and that high growth in one period does not ensure high growth in the next period unless reforms are consistently pursued.
The presentation was followed by an intense interactive session where students and faculty mainly asked questions on financial inclusion, fiscal deficit, current account deficit, growth dynamics, enumeration of required reforms, implications of gold imports, net investment position, and foreign direct investment.
The talk was attended by faculty and students from various institutions in Bengaluru, officials from the RBI and commercial banks, in addition to faculty and staff from the IIMB.
Dr Arvind Virmani is a Non-resident Fellow, Brooking Institute, Washington DC. Earlier, he was Executive Director at the IMF. He has been an adviser to the Indian Government at the highest levels for 25 years, including as CEA, Ministry of Finance and Principle Adviser, Planning Commission. He also was the Chief Executive of the Indian Council for Research on International Economic Relations. He has advised the government on a host of economic policy reforms, debt management and customs duty reform, and has been a member of numerous committees. He has published extensively in journals on areas of macroeconomics, growth and finance, International trade and Tariffs and International relations. His books include, The Sudoku of India's Growth (2009), From Uni-polar to Tri polar World: Multi-polar Transition Paradox (2009), Propelling India from Socialist Stagnation to Global Power (2006), Accelerating Growth and Poverty Reduction - A Policy Framework for India's Development (2004).
Dr Arvind Virmani visited the IIMB campus and interacted with the faculty and students during February 19 and 20, 2013. On February 20th, he gave a presentation on 'Indian Economy: Shooting Star, Sprinter or Marathoner?' at the IIMB Auditorium. The presentation indicated experience of fast growing economies over the last six decades. The interesting conclusions of the presentation were that policy reforms needed to sustain fast growth are not necessarily the same as those needed to accelerate growth; India is a potential high growth economy and to realize this potential India needs to take urgent policy actions to remove bottlenecks to growth, eliminate rents, and facilitate removal of supply constraints; There are a very few countries which have sustained high growth over longer periods and that high growth in one period does not ensure high growth in the next period unless reforms are consistently pursued.
The presentation was followed by an intense interactive session where students and faculty mainly asked questions on financial inclusion, fiscal deficit, current account deficit, growth dynamics, enumeration of required reforms, implications of gold imports, net investment position, and foreign direct investment.
The talk was attended by faculty and students from various institutions in Bengaluru, officials from the RBI and commercial banks, in addition to faculty and staff from the IIMB.
Dr Arvind Virmani is a Non-resident Fellow, Brooking Institute, Washington DC. Earlier, he was Executive Director at the IMF. He has been an adviser to the Indian Government at the highest levels for 25 years, including as CEA, Ministry of Finance and Principle Adviser, Planning Commission. He also was the Chief Executive of the Indian Council for Research on International Economic Relations. He has advised the government on a host of economic policy reforms, debt management and customs duty reform, and has been a member of numerous committees. He has published extensively in journals on areas of macroeconomics, growth and finance, International trade and Tariffs and International relations. His books include, The Sudoku of India's Growth (2009), From Uni-polar to Tri polar World: Multi-polar Transition Paradox (2009), Propelling India from Socialist Stagnation to Global Power (2006), Accelerating Growth and Poverty Reduction - A Policy Framework for India's Development (2004).