Chief economic advisor Arvind Subramanian told aspiring economists that even in the “post-truth” world, economists must not sacrifice their integrity. Economists must be objective and truthful, “purposeful and disinterested”, he said citing John Maynard Keynes.
Mr. Subramanian was addressing students at a session organised by the Kerala Economic Association and the economics department of St.Teresa’s College in the city on Tuesday. He spoke on the Economic Survey 2016-17 and the major “surprises” that it threw up. He also spoke on the role of the chief economic advisor and his experience writing reports on Goods and Services Tax and the pulses market in the country.
On the upcoming tax regime, he said the Goods and Services Tax was the most bold and radical tax reform in the country. It would improve compliance and would be more transparent. It was also an example of cooperative federalism whereby the States and the Union sat together to discuss tax rates instead of each State and the Union deciding separately on rates.
Mr. Subramanian said the Jandhan-Aadhar-Mobile (JAM) combination would drastically change government payouts like pensions and subsidy for domestic LPG as well as plug leakages in the system.
Eminent academic M.A. Oommen, who is also the patron of the association, presided at the session. Association president and economist S. Irudaya Rajan and head of the department of economics at St. Teresa’s College Nirmala Padmanabhan were among those present.
