Raghuram Rajan on TN govt panel to reverse economic slowdown

Prime News, National (Chennai), June 22:- Tamil Nadu will set up an advisory panel comprising Nobel laureates, former Reserve Bank of India governor Raghuram Rajan, and former CEA Arvind Subramanian to reverse the slowdown in its economy. The panel will chalk out a plan to put the state on a growth path, the state Governor Banwarilal Purohit said in a speech at the Legislative Assembly on Monday.

The council will include Nobel Laureate Prof. Esther Duflo of the Massachusetts Institute of Technology (MIT), USA, Prof. Raghuram Rajan, former Governor, Reserve Bank of India, Dr. Arvind Subramanian, former Chief Economic Advisor, Prof. Jean Dreze, Development Economist and Dr. S. Narayan, former Union Finance Secretary.

The panel is part of an effort to base the government’s economic decisions on the strong foundation of data. The government will release a white paper on state finances in July, the Governor said.

“In recent years, we have seen a slowdown in Tamil Nadu’s economic growth rate. This government will make all efforts to reverse this trend and usher in a period of rapid economic growth taking full advantage of the available limited window of the demographic dividend. To chart out a rapid and inclusive economic growth path for the state, the Government of Tamil Nadu will constitute an “Economic Advisory Council to the Chief Minister” with the leading experts from all over the world as its members,” the Governor said. (MR, Inputs: Agencies).

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