SKOCH Summit
Dr Charan Singh
CEO & Founder Director, EGROW Foundation and Non-Executive Chairman, Punjab & Sind Bank
Charan Singh has offered novel methods for using monetary policy to promote economic recovery and expansion. His work on relevance of Inflation Targeting in India, which enjoys a unique demographic situation is path breaking. Similarly, his published research in 2005 at Stanford University arguing on conservative approach towards utilising foreign exchange reserves had positive policy contributions. He has worked extensively on debt management and argues that with growing complexities in monetary management and rising debt, both functions for sake of transparency and better policy focus, should be separated. His research on financial inclusion aims to enhance female labour force participation in India. He is an advocate of prudent and responsible regulation. His current research is aimed at distilling Bharat Banking norms from century old banks operational in India, many having survived the World Wars, famines and partition of India successfully.
Dr Charan Singh at the 92nd SKOCH Summit: India Economic Forum - India 2047
Dr Charan Singh
CEO & Founder Director, EGROW Foundation and Non-Executive Chairman, Punjab & Sind Bank
Key Points*
- I’m grateful to Sameer and Professor Debroy for conferring this award and recognizing my work.
- This award is timely because monetary policy debates are evolving rapidly.
- I have been advocating inflation targeting as a core element of monetary policy.
- I have also been emphasizing the role of demographics alongside inflation targeting.
- This combined approach has not been done anywhere in the world.
- India has developed a multiple-indicator approach to monetary policy.
- Recent aggressive interest rate rises in America and other advanced countries highlight gaps in monetary policy research.
- These episodes suggest research on inflation and monetary policy is still inadequate.
- India has economists who can contribute significantly to global monetary policy thinking.
- We should revisit the Cambridge equation, which is a pivot of monetary policy.
* This content is AI generated. It is suggested to read the full transcript for any furthur clarity.
Transcript
Foreign policy goes to Professor Charan Singh, CEO and Founding Director, iGrow Foundation, and Non-Executive Chairman, Punjab and Sind Bank.
Professor Charan Singh has offered novel methods of using monetary policy to promote economic recovery and expansion. He has worked extensively on debt management and argues that with growing complexities in monetary management and rising debt, both functions, for sake of transparency and better policy focus, should be separate. His research on financial inclusion aims to enhance female labor participation in India.
Thank you very much for conferring this award to me and recognizing my work, both to you, Sameer, and Professor Debroy. I think this is very timely. I’ve been talking about inflation targeting, core of monetary policy, and thinking about demographic along with this — not been done anywhere in the world.
I’ve also been saying that India is a country which minted multiple indicator approach, and the last episode that you see of aggressive, aggressive interest rate rises based on high inflation in America and other advanced countries clearly show probably research on inflation and monetary policy still inadequate.
This award should recognize that India has economists which can contribute significantly and seek revisit of the Cambridge equation, which is the pivot of monetary policy.
Thank you very much.
