Arvind Subramanian

Of Counsel

1. IDEA 1

   An adviser looks back

   Subramanian, India's Chief Economic Adviser from 2014 to 2018, reflects on his years inside government. He describes the ideas he pushed, the debates he joined and the policies he supported or questioned, offering an insider's view of economic policymaking.

2. IDEA 2

   Bad loans weighed on two sides

   Subramanian popularised the idea of a Twin Balance Sheet problem. Both large companies and the banks that lent to them were weighed down by bad debts, which held back investment and growth until the problem was tackled.

3. IDEA 3

   JAM could transform welfare

   Subramanian promoted the JAM trinity: Jan Dhan bank accounts, Aadhaar identity numbers and mobile phones. Together, he argued, they could deliver subsidies and benefits directly to people, reducing leakage and corruption.

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