Keeping up his pre-poll promise of all-around economic development of Tamil Nadu, Chief minister MK Stalin had appointed former Reserve Bank of India governor Dr Raghuram Rajan as the member of his state economic advisory committee.
The Tamil Nadu government’s Economic Advisory Council is composed of leading Economic experts including Raghuram Rajan, Nobel Laureate Esther Duflo, former Chief Economic Adviser to Union government Arvind Subramanian, development economist Jean Dreze and former Union Finance Secretary S Narayan.
Both Raghuram Rajan and Arvind Subramanium withdrew from the government of India. Technically, Rajan’s term was up. The presence of Jean Dréze is said to balance out the free market problems.
The former RBI governor Raghuram Rajan to help chart a path for Tamil Nadu, with these eminent economists. Based on the recommendations of this council, the government will revitalise the State’s economy and ensure that the benefits of economic growth reach all segments of society.
Today, Tamil Nadu Governor Banwarilal Purohit announced this new economic advisory council in the first session of the 16th Legislative assembly.
Over this decision of MK Stalin, many renowned journalists like Radhakrishnan calling it Indian’s loss is Tamil Nadu’s gain. It is probably the first in India that a state government is constituting an economic advisory council with financial experts across the globe. And some say Tamil Nadu has its own World Economic Forum.