Elected autocrats can take nations down wrong path: Raghuram Rajan
Monday, November 27, 2017 IST
1.Rajan said governments need to listen to a broader spectrum of people to reduce the possibility mistakes
2.He also said that one needs to wait for data to emerge to be able to assess the full impact demonetization
3.It's important to emphasise the message that we need better tax compliance in this country, he said
NEW DELHI: Former RBI governor Raghuram Rajan on Sunday said governments need to listen to a broader spectrum of people to reduce the possibility of mistakes, instead of planning their actions solely based on demands from their supporters.
When asked about the phenomenon of elected autocrats at the Times Litfest Delhi , he said, "It is worrying. It is often people, who appeal to a certain segment of society, have a very strong following. What happens then is that the potential for mistakes increases. You are not listening to the broader electorate. 'These are the people who elected me and I am going to listen to their will and wishes.' And you take countries down the wrong path sometimes."
He suggested that stakeholders in the system often bowed to strong leaders. "Illiberal democracy is not just a function of the leader, it is also a function of the system, which doesn't stand up and exercise independence - the corporate houses, the press and the business groups. All of them essentially tend towards bowing even though there are exceptions. They do that because their interests are all aligned. This is where illiberal democracy is crony capitalism also because it's a small group. There is a cosy relationship between the political and corporate establishments."
While Rajan said one needs to wait for data to emerge to be able to assess the full impact of demonetisation, the economist from Chicago Booth added that tax authorities could play a significant role in identifying evaders based on data at their disposal. At the same time, he cautioned against harassment. "We have to have a very people-friendly way of investigating based on all the tremendous amount of information that is now being collected. It's important to emphasise the message that we need better tax compliance in this country. To the extent we can do it without unleashing inspector raj."
The outspoken economist also suggested a competition within the government to improve service delivery. "We need competition in government services. Why should you go to get a passport from one location? Why not empower any location in India to give you a passport. Wherever there are choke points where there is a monopoly deliverer of a service that you need immediately, you become subject to their tyranny."
Related Topics
Related News & Articles
Thirty-six-year-old Irfan Ahmad Zargar, a resident of Chattatabal area on the outskirts of Srinagar, was deported from the Gulf country on August 14 and subjected t...
Recently posted . 466 views . 2 min read
Chhota Shakeel's 18-year-son Mubashir Shaikh created a stir by recently becoming a "Hafiz-e-Quran" or one who has memorized the entire Quran, compri...
Recently posted . 576 views . 2 min read
It's miles the absurdity of David Cameron making it a felony requirement for the authorities to offer away 0.7 according to cent of the total wealth we...
Recently posted . 777 views . 28 min read
Indignant at Maria Sharapova admitting she didn't know who Sachin Tendulkar was, a lot of Indian cricket fans ran an online campaign of sorts to target the Russ...
Recently posted . 569 views . 1 min read
The India story would be badly damaged if Prime Minister Narendra Modi is not re-elected, said CLSA's Chief Strategist Christopher Wood in his widely read weekl...
Recently posted . 451 views . 2 min read
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 8K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
рд╕реНрддрди рдХреИрдВрд╕рд░ рдХреЗ рдорд░реАрдЬреЛрдВ рдХреЗ рд▓рд┐рдП рдПрдХ рдЕрдЪреНрдЫреА рдЦрдмрд░ рд╣реИрд╝ рдореБрдВрдмрдИ рд╕реНрдерд┐рдд рдЯрд╛рдЯрд╛ рдореЗрдореЛрд░рд┐рдпрд▓ рд╣реЙрд╕реНрдкрд┐рдЯрд▓ рдХреЗ рдбреЙрдХреНрдЯрд░реЛрдВ рдиреЗ рд╕реНрддрди рдХреИрдВрд╕рд░ рдХреЗ рдЗрд▓рд╛рдЬ рдХреЗ рд▓рд┐рдП рдорд╣рдВрдЧреА рдХреАрдореЛрдереЗрд░реИрдкреА рдХрд╛ рдмреЗрд╣рдж рд╕рд╕реНрддрд╛, рд▓реЗрдХрд┐рди рдЕрд╕рд░...
Recently posted. 373 views . 2 min read
Krishna: With the recovery of two more bodies on Monday, the death toll in the Krishna River boat tragedy in Andhra Pradesh has risen to 18....
Recently posted. 509 views . 2 min read
At a recent event, Piyush Goyal said that he finds it difficult to remember IRCTC's name and has asked officials to come up with a new and interesting name th...
Recently posted. 685 views . 1 min read
Recently posted . 706 views
Recently posted . 541 views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views . 31 min read
Recently posted . 1K views . 126 min read
Narendra Modi and Amit Shah are backing Nadda precisely because he does not have a strong public personality.
Recently posted. 472 views . 0 min read
Indian workers write open letter
Recently posted. 443 views . 0 min read