SVKM’s NMIMS – Sarla Anil Modi School of Economics (SAMSOE) has initiated a wonderful concept of ‘Eminent Lecture Series’ from academic year 2019-2020. The idea behind the lecture series is to give the students and faculty, an opportunity to interact with eminent personalities from different walks of life and thereby provide students not only with different perspectives, but also with potential resources that they can apply in future courses.
First keynote speaker of this lecture series was Dr. Subramanian Swamy, Member of Parliament, Rajya Sabha who spoke on ‘GDP methodology and the 5 Trillion Economy’ on 26th Feb, 2020. Further SAMSOE students interacted with Dr. Swamy. His speech was so illuminating that it enthralled the entire auditorium. The talk was befitting his larger than life stature as an economist / statesman par excellence.
Dr. Rajan Saxena, Vice Chancellor SVKM’s NMIMS welcomed Dr. Swamy and had given an introduction on origin of the School and its laurels achieved in last 10 years.
Mr. Shalin Divatia, Honorary Joint Secretary, SVKM remembered Dr. Swamy’s slogan “Do you want Swami or Raja to represent?. ” during the general elections when he was 10 years old and further described his qualities with 5 pandavas.
Dr. Subramanian Swamy who is also a Member of Parliament (Rajya Sabha) to have such a scholarly figure in the midst was a lesson in itself as he answered, with poise, some of the oft asked and inquisitive questions on the state of Indian economy and how to make it better.
The clarity and clairvoyance pertaining to Economics and its discourse was evident right from the word go as Dr. Swamy shared intelligent insights on how the world is shaping up and how India can seize the opportunity to pursue a path of relentless growth. On the subject of the $5 trillion economy, Dr. Swamy enlightened the audience by saying that if a major portion of GDP was allocated for education & higher education expenditure, then the goal can be attainable and the progress would be holistic in nature. During the session, he minced no words when claiming that only by cutting taxes will more money land up in people’s pockets which would in turn incentivize them to spend more thereby causing an increase in demand and an uptick in the employment rate. These factors would surely contribute to an increase in GDP percentage and raise the investors’ confidence and market sentiments to create more jobs.
This methodology when implemented from a ground level across industries has the dynamic potential to drive the economy like nothing else and the whole nation will start moving in the right direction said Dr. Swamy. He shared that one should always believe in the principles of Macroeconomics and look at the larger picture and not micromanage it. He added that there is no dearth of talent in the country and it’s only the lack of motivation which results in brain drain and by creating the right platform for these ignited minds, will Indian be a meritorious nation. On a concluding note, Dr. Swamy in his witty way said ‘Do not be pessimistic about India; have hope and everything will be all right.’
The loud applause and enlightened minds were the perfect outcome of a truly enriching and cohesive observation on Economics.
A vote of thanks was given by Prof. Amita Vaidya, Director (SAMSOE) to everyone who has been part of organizing the function including the people gathered to attend the function.