Household debt in India increasing alarmingly, affecting savings: Economist Pinaki Chakraborty

Professor Nanak Kakwani, Professor Jayati Ghosh, University of Massachusetts Amherst, Professor Sushil Khanna, Professor M. Suresh Babu, Director of Madras Institute of Development Studies and Professor K.J Joseph, director, GIFT also spoke on the occasion.

Dr Haseeb A Dabru, former Finance Minister, Jammu and Kashmir and Dr. Thomas Issac chaired Professor I S Gulati centenary lecture on ‘A perspective on Fiscal Prudence, Rules and Risks. Dr  A V Jose, former director, GIFT made the commemoration of Professor I .S  Gulati.

Earlier, a plenary session on ‘Revisiting FRBM for Viksit Bharat opined that provisions of FRBM Act might hinder the growth of states hence, there should be an amendment in the act in order to make India Vikasit Bharath by 2047.

Opening the discussion Professor D.K. Srivasthava, member, the 12th Finance Commission said that the states are performing better in achieving the targets like fiscal deficit as per the act. Professor Tapas K Sen chaired the session. Professor Ashima Goyal, Professor Rathin Roy, R Mohan, IRS, Professor M.R Narayana, Professor Lakhwinder Singh and Professor K P Kannan also shared their thoughts on the subject.

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