The reason that India hasn’t grown at the speed of South Korea, China or Vietnam is because the machinery of the government still holds on to the ‘commanding heights’.
Somanathan is an IAS officer from the Tamil Nadu cadre. He holds a PhD in economics. Most of his colleagues admit that an academic expert of his kind is rare in the civil services.
Somanathan, currently finance secy, will take over as cabinet secy for 2 yrs starting 30 August. A vital adviser to finance minister & close to PMO, he is vocal about views on taxation.
In interview with ThePrint, finance secretary spoke on Budget, how central govt can encourage states to increase capex, MGNREGA allocation & if food, fertiliser prices will fall.
When asked about the stock rout in an interview, Somanathan said there was no cause for concern for depositors, policyholders or investors in any nationalised banks or insurance companies.
Forget comparing it with classics like Hrithik’s Ek Pal Ka Jeena or the slick title track of Dhoom 2, Janaab-e-Aali does not even come close to Ghungroo.
India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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