wisdom us casa, de classify criminal cases from the central archive of the k g. b, a better rules shed light on the atrocity announced a numerous questions that have remained an onset for many years. watch on see the last 20 years we have been gathering base. yes. and now we have the thing that tipping point with place in the world is changing theater, young nation, and we had a poor nation, but we're not just building an economy. we have rebuilding the civilization. so the problem seems to be not in the way development satisfied, and india being a potential source of them, like all kinds of different kinds of things, flourish all over going to be that's perfectly fine.

hello and welcome. i am on with them kids that come to the show better for the next topic. really been discussing all the things in the product with a very special guest, make them send you signed the welcome. since they've sent me all is the prominence economist who has held a number of high profile positions over the years to started out in finance so that you can all make see the ninety's and was awarded an eisenhower fellowship in 2007 in 2010, the world economic forum named him a young global lead to opposite of february 2022 cents. you've sent me all held the post of the principal economic advisor to india, as finance ministry, who's now serving as a member of the economic advisory council to prime minister number and the remote de, to thank you for coming. explain to me means i am asking as an ordinary citizen of

this country. what does it mean to be economic advisory? consider because i've been having this stuff in depth. so uh, but as you can imagine, the idea is to look at the big picture about the economy of the country. so i'm not really in the operations part of running the government on a day to day basis. a small number of us. so the only 3 permanent members of our job is to look at say for example, what are the forms to be done? look at the big picture as far as our place in the world. what is happening, the rest of the world and osh, placing it, what's happening to growth, automatically, economic stability and so on. and to be able to brief the prime minister and the cabinet about and what are the kinds of things that we shouldn't be doing on the economic front. now that is a very general thing. but in reality, what it means is, 1st of all, remember the prime minister is level of everything and evidence and anything converges. so very often what happens is, what i'm doing may not be what in, in

a textbook sense as economics. and so i may end up looking at sports policy, or i may look at, you know, a rationalization of national, want even something or, you know, thinking about, uh, you know, how to deal with a jew political situation. so the role is in some ways, very, very eclectic. and very often, a lot of times that i spend at least is looking at, for example, suggestions and ideas that come from the ministries. all people who happened to be driving us to. and they give suggestions that ideas not like driving us to monique, is personally sitting and researching all of those suggestions and ideas. he gives it to somebody. i'm that somebody. similarly, i may have an idea of some of these, and then you know, i make a presentation say maybe we should look at this or whatever. so i'm part of that cool. you can call it the pink tank which works for the prime minister. and on basically running the economy and it's

a very prestigious position to be in. and then the katie is also fairly suddenly a privilege, particularly. i mean it's, it would have been the privilege of anything. yeah. but it is specifically a permanent at this time because we are clearly in one of those stunning points, eileen, in history. yes. and so we can see letting anybody living in india can see letting you know we're going to something special. hm. is that a place in the world is changing? after hundreds of years of 1st father and domination, then bad the cannot make policies from our sites. you know, finally the last 30 years we have been gathering base. yeah. and now we have the thing that tipping point with place in the world is changing. i mean, we had already the was 5th largest economy within the next 24 months. we've become the was told, allowing us to kind of yeah. so to have bins in the cockpit to, in a sense when this happened is very special. this sort of the development of this whole 50 position in the 3rd position hold us 3rd position happened. so basically what is happening is that our economy is now growing very fast to reduce by some

margin, the fastest growing a means that economy in the was the last year we grew at 8.2 percent this year. we should a girl by 7 percent of the box, but the thing that people forget is the component thing effect. so when india began to reform its economy in 1991, you know how big our economy was just 260 bit. okay. okay. then it took us 16 years to become $1000000000.00 economy. okay, so it's only in 2007, 8, then we became a one trillion dollar con. okay. and 16 years then it took 7 years to become a totem in the economy. mm hm. then it should have taken us 5 years, but then we had to go over that cetera. so it took another 7 years again. so it's only in 2021, 22 does not too long ago that we became a 3 trillion dollar cutting. okay, after that, it took just 3 years to get going. unfortunately, and the economy which we will become this year. okay. and then did it take looking more than 2 years to become a if i for the economy. and then,

so you see the competing people under estimated the co loading process is the most powerful force in the world. yes. and so as our economy excites big expands and we keep compounding this, the compound interest rates. everybody loves loans in school, but they forget that in the beginning until the initial benefits seem slow. mm hm. but once it reaches a certain base, it begins to gallop. hm. so even china, me what the same size as our economy and 99. mm hm. so how do i get you, how is it become the world's 2nd largest economy? but in fact, based on measure of the world's largest economy, essentially the, grew a few percentage points faster than us, but kept going with would be our dealers. and that's how they got here. so all we have to do now is to keep doing this and compound it. and uh, what are the most pressing economic reforms and what needs to be done the heck of spend the rest of the day with that. so let me say that there are huge number of things we need to do. that is simplify items. yeah, the 1st of all, 1st thing they need to do is to keep our economy growing so that your investment

keeps happening. so i'm from the government side, we need to physically in for the infrastructure, soft investors to keep investing in that from the corporate side. we need to do ease of doing business. so that the, the private sector and for an investor has come in invested in factories and, and back office operations, etc. and so that creates the momentum in the economy created to the jobs and all of that. so that is one part of the, the, the 2nd part of what me to do is the, why do we are doing this? we have to keep the system stable. we've gone to our banks to blow up, or, you know, inflation to spike up and so on. so that's a very 2nd important thing we need to do the toad. the important thing we need to do is to make sure that the very porters people in the country get some direct support. because while the board most of the boards and vice because the raising side, there are some people who will. so for them you have to do direct benefits, transfer for them to be all of us. you will not have them big middle houses. i'll give them some way of getting gas so it means that move, move away from running

a word or no say john, what am i maybe basically do like to be the principal. and the last one, you know, that the word be used for it as unto the visa. so you know, in order to move it is you need to do a whole bunch of things. so i would argue that one of the single most important things is that the single most important thing you need to do is do the form on your dishes as to why. because with some 50000000 cases stuck in a traditional system, we are not being able to enforce contract on pain. this is a major issue for our business sector, and we're not able to give it just as own thing to the average citizen. so i think this is one big area of the phone we need to do in the next cover is going to happen. well, obviously a lot of it will have to be done to the distribution, but the government will also have to participate. and the 2nd important thing we need to do is to find them and begin to the form of administration, usually since 1991. to now, what have you done?

we have basically withdrawn the butyl cause these bar to do damage. we have not refundable prosy. we have stood simply a stream that back before 9091 they were pretty much allowed to do whatever they wanted. now be able to stream them, but we didn't default them. but now we need to actually the following them. so that the, the, the civil service can actually become service oriented and actually do the things as opposed to new, like fix the roads to municipal services and etc, etc. but that audion bishop has the reorientation has to happen, because even today, the bureau castillo essentially designed to control the population. that is what the colonial either was. but oddly enough, that is also what the socialist d o c. and it's about controlling the population. we need to move us, that was, that was away from that main set of controls to a mindset of service delivery. and that is again, one major phone that mean to do so, there are 2 big reforms, both them in was getting the min states to do the things that's supposed to do all

this while toward peers. we were trying to stop it from doing the things it did not or should not be doing me like running outlines. but now we need to get a glue. the thing that's supposed to do, and we have begun to do some of it to be fast. i mean, for example, the sewage in, for such a big note as being done by the state, we are making progress. but you know, this is something we need to focus on. how do you deal with the road blocks? so 1st is the important thing is that you have to understand that we're not just building an economy. we have a building of civilization which has effectively being in decline for centuries. yes. sylvia literally building back the whole thing. so many people asked me. yep. why do i be excited to be interested in, for example, history and culture and these kinds of things and or open design. and so, because if i had only the only economical view, i wouldn't care about those things. now the economy is an important part of the building civilization was not the only thing you have to rebuild the whole team. and in the sense,

i would argue that we are trying to think of something akin towards the europeans, went through in the $1516.00 century, which is a renaissance, reimburse me. so when you go to europe and you see you say you go to products and you'll see those beautiful churches, you go to venice and l all you will, you know, see buildings from elizabeth and england. the idea is that you are seeing the cultural artifacts, but i'm tied to a lot effects. only one part of what happened to florence was a center for banking, contribution to human civilization is actually double entry bookkeeping. oh, simulating venice has a 3 contribution to the world is actually the stock market. now because the gym or anything all is well for all these commercial activities. maybe the defense, the buildings and those being things. and you will not or via tech to me at about the same thing you had gallon meal coming up, was the same scientific to the changes. so what happens in the renaissance is that

you have massive risk thinking happening at different feet are the same thing. so that's roughly the same thing that the shakespeare is performing it at the do you also have francis drake slocum, navigating the or the english defeating the model? it's a, it's a state of mind of this big and it happens simultaneously on all things. so what indian we are trying to do is to clear the college of the speaking in this country for far too long. we were afraid of the rest of the work, even after becoming to be made to feel that yes and even after becoming independent, we continued to have this. can you not had no regard to compete with the rest of the world? so let us go with us as and for some import substitution thing that goes on mindset me. now we have a different lines that we can go out of this and going to market, and we can compete with the best in the world. we can send something to the moon and you can see that figure that sort of every aspect of life. but that ability and

willingness to go there and can work. you know, a defeat into a victory is something that has clicked to not head into a relatively recent thing. absolutely. i totally agree with that is if you go back and look at a lot of history, was it's full of wars and battles. maybe what we almost one and then go defeated me . so this switch is something that has changed. it's and it is not done yet. it's not. i wouldn't say it's yet institutionalized. mm hm. but definitely this changes . how does it happen? yes. and you can feel it if you live in india, you can feel it around. that's amazing. so this, the, the success of making in the program is, is very evident, is that any failure, those have to be said back that are happening. the most important thing to understand is that if that i'm not saying it's happening all live in that mean then no successes. mm hm. no, their successes happen only when people are meeting with taking the risk of failure . mm hm. so i actually see continuing bankruptcy and insolvency. it's

a good thing. i believe that at every point in time, some companies should be going bankrupt. me because it means that other than that the system as a whole is thinking motors. but you don't want to be sort of difficult, but even for whatever reasons. and sometimes the same company is benefits problems or there's publics like the private sector means are thinking was let's put them in a warehouse and we will use large amount of taxpayers money to keep it's all going today. what we wanna do to put in the insanity and bankrupt itself, it's up to the carrier. and we have discovered that doesn't cause cause any great disruption to the system. all that happens, those assets that re deployed, and here's the new company. come see, even the height of good one of our largest daylight. jenny is rid bankrupt and he said ok, you went bankrupt banks. so it requires a certain attribute to where to speaking. now it is also important that the same thing that we do not see those will bank up as a whole bad note even. yeah,

something they took a risk they were bankrupt. i think once you've gone through your bankruptcy process and you know, mean deemed up, you should be allowed to go back and take another screen because that's how the system generates new ideas, new ventures. so, but this is what attitude and this happens not just, i am always be talking about in the space of business and, but this is not the only space this should happen in the science. so it should happen in the arcs, like all kinds of different kinds of things, flourish so over to the that's perfectly fine. how is it important? how much is it important for us to say that okay, invest is like a nice thing out of growth. does it matter to us? well, it's sometimes i keep reading the photo method, but i think we shouldn't get to looked up about best and validation beyond the points. but does it make you angry? the floor? is that something you're trying to manage the best? i mean, that is true of cause it does annoying because at the end of it to do remember that

when china was rising, the same fellow said that no, no, the numbers were all wrong. they were lying. does that village? i never get too big to ignore me. the same people always say no, no, singapore is not progressing. it's autocratic, all kinds of things. so my view on all of this is, in some ways getting criticized and you're gonna right those passage we of the emerging would have to pass through the in a sense, because during that passage we are says to discover that actually we will be means of all these people, it doesn't matter, they're just making it up. and in fact bid, and what they're really losing me is, uh, being able to, you know, be driving. you tell us them to be of joy a whole and some of those kinds of things that they wanted to do. i've pro, what they've loved to do is do we, you know, the bbc in your hands that and then i move on thing judgments on the syllabus,

a little bit of poverty, other than that, it's up to 5. so the moment we begin to lose a billionaire of odds and our this thing, but the fact of the matter is the celebrated. they don't belong to me. after all these people who are all these and yours who come and look to us about the problems in india are all funded by it all. go for the foundation, ford foundation here i own vision and i the sources opens this id or the foundation . now who is, who had all these people? they're all the notes. yeah. so go to the limit that even though, so the problem seems to be non white villain. is that right? and it ends up being a potential source of that light. and i keep telling people, you know, almost because he is not coming here and generating jobs for us. it's going to be the same, a money that need that are below a when you mock. yeah. then yes, there should be their taxes. they should follow their rules live, you know, i'm no love lost for the rich. if they're not following the rules,

they have to follow that. but you know what, the fact is that really does that other than good is this large. we should back to them, like we had one 6th of the worst population. we haven't liked to 16, the words been and i loved that. how close, how do we do? i've never had a self sufficient about it. and then that means that we have the financial resources to take place in the work means to be able to stand up for us to invest in the word. and we have demonstrated movie short in the last few years that we are willing to do that. you'll see that in foreign policy, you'll see that you not ability to generate out on technologies. i mean, we can see, for example, we haven't sorted us as into the global supply chains for mobile phones. we are now the 2nd or 3rd largest mobile form manufacturer in the world that is just full 5 years ago. we weren't even in the picture. so we are quite capable of being argumentative and we should be very careful not to in different up. and they have heard of some sort of a floor or topic, kind of a mindset alpha,

alpha isolation. we gotta have him in the sense of being able to stand up and take our place in the way at also i think we often, you know, in the as well as an usher in china still referred was emerging economic economies outfit as this classification. this, well, if it's a, it's, it's a bit of a con defending classification and they have had defends, in the, in the 2nd half of the grant, the essentially, in the vein talking about the world. and sometimes it's useful as a short time for talking about the little bit more 3 now the so the whatever you may want to call it. but yes, i mean zeitfeld the world in the midst of your place in duns off. why is that full capital income of china, for example, is still much lower than that of major western country. the effective, insure, skews and industrial capacity. and even in areas where many areas of technology, china is the cutting edge. so it is not in the marketing. does very much too much

to me in many, many areas. exactly. we are sales are still emerging. be out of course, but i mean not the size of our economy shooting for less because the end of it leave it even after our little girls we will be in a few we a spend that was total largest economy. the other was largest population already. so when you divide one by the other, and we are also young nation means you're young nation, we had a poor mis. uh, so we have, we have not the us, but i think it's fair to say that we asked them and emerging country, but i think what is different about this generation is that we have stopped thinking over some sort of static condition. the other chatted. the gifts, one of the future is, you know, ends us from abroad when we come in. uh, us some help. and you know, uh, every, when does uh and, and i, economists from the us will come and look to this, that india habitats into the mode. how to improve our lives that we have going prospect yeah. and how to deal with the criticism from within the country that is

fast. those are live here. have open in be sure to listen to it. never worked as well. and so i think there is a feedback loop. in fact, we should take criticism even from abroad. but i, i always stay criticism much more seriously from people who have a stake in the system directed in the sense that if there is no scheme in the game, nobody can give you advice. and i, i have experience with my side, for example, during the corporate crisis. if anybody in the world has an idea of how in get her done it took on me and do a nobel laureates likes to get some goodman and all who had all kinds of use or how indifferent on medic, on me, we didn't listen to any of the electives we ran out economy and it's not something i've been exposed me even at that time i went on television that wrote articles and clearly stated, we are not going to go ahead and blow up off of that or monitoring system because of your defense of a lady at some end, the net result of it is that we have, you know, of the most macro economic least stable country right down. let us look at what has

happened, the western economies. i mean, the u. s. for example, it has a really tough situation. the fiscal is out of control. they're trying to balance it with the monitoring side, which is a bad way of doing it. and it's causing stresses, not just for them, it's mostly expressed as the rest of the what the u. k. come to me is a tough situation. the european economies, enough of the place, all of which, because off a ridiculous policies that they will a following, which at that time we want them about. it's not that at that time. the one thing that i was at that time, the chair of the framework, looking group of the g 20. and i should meet that up people and i want them exactly what would happen with the policies and executive that have a person like who was so passionate, dental, as amazing. clarity has i'm using the word boss as mr. moody, who is the list great listener and who also has an amazing passion for

a country is not somebody, but cell phones as you know. yes. and so you have, you have to have done your homework done the math. and so it has made a difference because a person like him is at the heading of the thing. that's the literally, i mean, look of in the old what it tells you to do something and you are doing something else, right? bothered by using the him to do something inside. and then it requires a certain level of coverage, you know, to be able to push it in, in, in that way. how do you relax with this kind of a pressure? are all you don't feel the pressure? well, anybody who knows me the, i am uh, always buzz up. mm hm. so i can't say i relax, but i do things which are away from work. i mean, obviously one of the passions is looking at history and things like that. so i go to a lot of talking logical sites and things of that, and it be a lot of sports like which uh, went to the movie suddenly i used to be uh,

you know, doing di, condo and play squash. and yes, yes, i live, do you come from a family of uh, i know except fighters, but uh, do your son is a mixed martial. lot. uh, yeah, somebody said my oldest son veteran is an actual uh, in fact, international level, mixed martial. that's fine. and rubio, my younger son also does much of that to lose not he doesn't, hasn't chosen that as a profession yet. and yeah, so yes i, i like i like i do little bit sports. when i was in college, for example, i used to go battled lighting. in fact, i have one of the in this 1st paddic lighting licenses. so i was part of the 1st batch of florida who got the pattern waiting license. so i can, i can seem to have had a, a, have pioneered that sport. oh, wonderful ios also used to be a no no longer have the fitness for a professional level. got a whitewater kayaking and canoeing person. so i had an instructor grade certification and kayaking and canoeing. so going down rough, rough rivers and things. so you can imagine my general after doing is, uh, i like,

uh, a little bit of, uh, uh, this is what am i doing? yeah. if, if you kind of get badly hurt in doing whatever you are doing, um i lose interest in the matter. quite right. uh so yeah, so i, unfortunately my, i am now uh at least a point in my life with my joints going to pick the phone thing anymore. so i have to do more speed. things like go to the gym. what do you do for you to go to the gym and i still play some sports. i have disney place question so, but as i said, it is the main does willing but the body is actually the joints of increasing these the less really thank you. thank is going to finance the thing you guys are talking to you and thank you for watching. join me next week for another intimate conversation with another team guest. and let's talk about the

everything had changed with our daughter. she was completely when they came back and they told jamie, your daughter is having a diabetic ketoacidosis, i was miserable. i just felt sick and nauseous. and part of the cancer diabetic prefer entourage that affects every part inventory and assist in the american diabetes association. is that the american diabetes association has been bought off by the millions of dollars that the pharmacy to corporations. yes ma'am. every year i wasn't given a specific di is just told to inject and test. so i wish i could go back and change the governing bodies, put these recommendations out, forces physicians to lives within those guidelines for fear of reprisals. people

have not been told the full truth on how to manage the diabetes and what, what the consequences are funny carbohydrate diet. there was a multiple $1000000000.00 corporations that were go bankrupt. the,

i think it will have chevy and it shows the patient unix. but then you put the well in just the coupled or appreciate it, but if you're doing your dose, but then you would just give them a one shot the love of selling. so that's just for me just so that's where you know, you have them step is just a little bit slow. so i know control is the sensor only is a visual i'm losing in, but i do have to make sure that the, both the levels really so frustrated with as much, it's gonna get to play the show you a different level may assist you more. and when you do it, i'm good insurance and which the technology you can pull it up with a let's just sponsor suspicious go out. i don't know if it was a go or either of course, to just go in and put in the see it. it takes but done it with this. i can see it on this list if the control so

sort of the, the 41 percent of you as a delta and i'm savings to cover a 1000 dollar emergency. if we have record numbers of americans who are on the verge of having their cars repossess more than a 137000000 americans are facing financial hardship because of medical then in america, we do have a welfare system in place to help people who are struggling financially, but it's a conditional system you have to prove to the government that you truly need help. the simplest way, like to explain the basic income, is that is like social security. for the rest of us, a basic income would be a monthly payments that would go to everyone. just a $1000.00 a month. no strings attached. use i have, i would like them maybe. i don't know. i just wanna go crazy. the reason that i am a fan of guaranteed income because it is this idea that everybody is deserve. and then

just by virtue absorbing here the, the time action or a time, see and welcome back to going underground, broadcasting all around the world from the u. a team member of the energy alonzo packed with the boulevard and republic of venezuela, venezuela. with the greatest known oil reserves in the world just celebrated independence day, despite being targeted by major nations with cruise, sanction starvation and terrorism for refusing to be a washington vessel states. later this month, it faces the presidential elections. meanwhile, the us state department might in supporting a proxy war through ukraine and genocide in gaza. it may be the dying days of the biden. the regime has just announced it will participate in talks the day after

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