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As several state governments have shown their intention of shifting to the old pension scheme, former <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> Governor <keyword id="6358908" type="General" weightage="80" keywordseo="raghuram-rajan" source="Orion">Raghuram Rajan</keyword> said that states doing so would end up curbing current expenditure but may build liabilities for the future. He also cautioned banks on tilting too much towards retail lending. In an interview with an online portal on the sidelines of the World Economic Forum (<keyword id="102110" type="General" weightage="50" keywordseo="wef" source="Orion">WEF</keyword>) at Davos, <keyword id="6355561" type="General" weightage="100" keywordseo="rajan" source="Orion">Rajan</keyword> said that the reason why the new pension scheme was adopted was that, in the old scheme, huge liabilities had built up. He further said that defined benefit schemes are easier for governments to adopt as liabilities are not being recognised. Several state governments like Rajasthan, Chhattisgarh and Punjab have indicated that they will shift to the old pension scheme while <keyword id="6358126" type="General" weightage="50" keywordseo="himachal-pradesh" source="Orion">Himachal Pradesh</keyword> has indicated the same intention. Rajan further added in the interview that though it is for each state government to decide, these schemes should be aimed effectively towards the weaker sections of society, so as to benefit them. The former RBI Governor also had a word of caution during the interview, for Indian banks for their shift towards retail lending, as he noted that there could be potential risks in case of a downcycle. Rajan's comments have come at a time when Indian banks have seen a huge spike in retail assets in comparison to wholesale loans. He was quoted as saying in the interview that banks should check all risks involved while indulging in infrastructure lending. The former banker said between 2007 and 2009, the RBI had moved towards infrastructure loans, however later they created problems. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tech-mahindra-ceo-cp-gurnani-looks-to-transition-from-captain-to-coach-post-retirement/articleshow/97120238.cms">Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/cricketers-who-have-hit-double-centuries-in-odis-indians-dominate-the-list/slidelist/97122566.cms">Cricketers who have hit double centuries in ODIs – Indians dominate the list</a>

Shifting to old pension scheme may lead to liability add-up in future: Raghuram Rajan

<ul><li>At the event, former RBI governor Raghuram Rajan has said that India will soon surpass the size of China’s economy. </li><li>IMF Chief Gita Gopinath has raised the red flag for India by calling out the risk associated with India’s high fiscal deficit. </li><li>While Indian political leaders may be missing, industry top honchos Ambani, Adani among others are making up for the country.</li></ul>It’s that time of the year when the world’s biggest political, business and thought leaders of the world sit down and discuss global economy, investments, climate change and other pressing issues and potential opportunities at the famous skiing destination in Switzerland-- Davos. The <keyword id="69007" type="COMPANY" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> has officially kicked off in Davos and unlike last year, where Indian prime minister Narendra Modi made a splash, most political leaders from India have pulled out of the event to focus on the upcoming general elections. However, India, an economy that is touted to be among the world’s <a href="https://www.businessinsider.in/india-to-overtake-the-uk-in-the-rankings-of-the-worlds-largest-economies-thanks-to-brexit/articleshow/67188514.cms">top five</a> in 2019, was certainly a talking point at the world’s most elite gathering. The buzz at Davos Indian economy can be bigger than China Former RBI governor <a href="https://www.thequint.com/news/business/india-to-become-bigger-than-china-eventually-raghuram-rajan">Raghuram Rajan </a>has made big predictions for India at the event. Rajan said that India will soon surpass the <keyword id="5639169" type="UNKNOWN" weightage="20" keywordseo="economy-of-china">economy of China</keyword> and will lead the infrastructure development in South Asia. “India will become bigger than China eventually as China would slow down and India would continue to grow. So India will be in a better position to create the infrastructure in the region which China is promising today. But this competition is good for the region and it will benefit for sure,” he said. IMF’s advice for India’s finance minister IMF's Chief Economist Gita Gopinath has raised the <a href="https://www.bloombergquint.com/davos-world-economic-forum-2019/davos-2019-imf-chief-economist-gita-gopinath-on-global-growth-and-indian-economy#gs.3GOc0UrB">red flag for India</a> by calling out the risk associated with India’s high fiscal deficit. In an exclusive interview with <a href="https://economictimes.indiatimes.com/markets/expert-view/india-must-stick-to-fiscal-math-gita-gopinath-imf/articleshow/67634713.cms">ET now</a>, the IMF Chief said, “It is important for India to stay the course on fiscal consolidation. If you look at the aggregate deficit for India – combining the centre and the state deficits – has not improved much in the last five years. That is something that needs to be addressed.” However, The International Monetary Fund's (IMF) World Economic Outlook Update released by chief economist Gita Gopinath on Monday said that India's economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps. India to lead Industry 4.0 India presents a big opportunity with the fourth industrial revolution, declared Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek. Speaking at a breakfast session titled 'Shaping India's future with Industry 4.0', organised by global consultancy giant Deloitte and industry body CII, the secretary said that India is fast adapting to new technologies and facilitating with policy framework to make way for industrial growth. ‘Chai pe charcha’ at Davos Indian tea is making a big appearance at the event with<a href="https://www.livemint.com/politics/news/from-hot-cups-of-tea-to-billboards-and-lounges-india-makes-a-mark-at-wef-1548080851695.html"> Tata Tea’</a>s participation at the WEF. The company is offering free cups of tea to the attendees of the event. 
 



 
 
 <div type="image" title="WEF" msid="67652758" hostid="261" caption="&amp;lt;p&amp;gt;Tata Group Chairmen, Mr. Chandrasekaran at World Economic Forum. &amp;lt;/p&amp;gt;"></div>







easyinv.blogspot.com Neighbours compete At the WEF too, rival states of Telangana and Andhra Pradesh are making their call for investments. While Telangana makes an appearance again this year asking investors to make the state their first stop in the country, sister state <a href="https://www.livemint.com/politics/news/from-hot-cups-of-tea-to-billboards-and-lounges-india-makes-a-mark-at-wef-1548080851695.html">Andhra Pradesh</a> is calling itself ‘future-ready,’ Andhra Pradesh Chief Minister Chandrababu Naidu, too, was supposed to attend the event but he’s passed the opportunity. What to expect Many Indian industry top honchos like Mukesh Ambani, Gautam Adani, Nandan Nilekani, Anand Mahindra, Pawan Munjal amongst others will be making an appearance at the event. Indian commerce and industry minister Suresh Prabhu will also be attending the event. Madhya Pradesh Chief Minister Kamal Nath will be speaking on emerging markets outlook on Day 3. See Also: <a href="https://www.businessinsider.in/indias-economy-projected-to-grow-the-fastest-in-the-2019-20-even-as-the-rest-of-the-world-slows-down-imf/articleshow/67633816.cms">India's economy projected to grow the fastest in the 2019-20 even as the rest of the world slows down: IMF</a> <a href="https://www.businessinsider.in/davos-2019-day-one-huawei-chairman-said-trade-war-is-slowing-sales-microsoft-ceo-talked-techs-impact-on-humanity/articleshow/67649167.cms">Davos 2019 Day One: Huawei chairman said trade war is slowing sales, Microsoft CEO talked tech's impact on humanity</a> <a href="https://www.businessinsider.in/india-supports-international-aid-to-other-countries-says-survey/articleshow/67634798.cms">Over 95% Indians support foreign aid efforts — and it seems like India has stood up to that expectation</a>

Davos Digest: Raghuram Rajan lifts India's spirit and other stories from the World Economic Forum

Reserve Bank of India governor Raghjuram Rajan showed his charisma at World Economic Forum. As WEF kicks off at Davos, the world's anxiety towards the revival of the economy overshadowed any positive feeling that few held. But Rajan, with his sheer confidence instilled the hope again.
 

	Rajan attributed the crashing stock market to jitters. "Everybody is looking at everybody else and saying, "Is this the point where they take the money off the table?' because markets have moved up quite a bit. So that's part of it. Part of it is wondering what is really happening in China, why did the Renminbi start moving a little, and is there more to come? And of course the oil price, how far will it go and does it affect some entity, some lever entity somewhere, which has oil exposure, and does that create problems? So I think some jitters are really jitters about jitters, and some is really wondering about fundamentals," he said.
 He is even confident that nothing has changed over the last few weeks that would suggest that the world economy is declining. He doesn't think the fundamentals of the <keyword id="47890" type="ORGANIZATION" weightage="100" keywordseo="global-economy">global economy</keyword> justify the decline in asset prices. 

	"It's hard to tell what the right level for asset prices are, but is there something that changed dramatically over the last few weeks that would say the world economy is heading downwards? I don't think so. In fact, there is a fair amount of sense that, yes, we're trudging along more slowly than we should, but it's not the abyss that we're looking at," he said.
 Rajan even said the rest of the world is facing a deflationary environment, and so to that extent, it helps India disinflate. At the same time he pointed out the role of the strong <keyword id="6355302" type="ORGANIZATION" weightage="100" keywordseo="Rupee">rupee</keyword> and said there’s more to be done for further growth. 
	 
	(Image credits: indiatimes)

Rajan effect at WEF!

<ul><li><keyword id="46425" type="PERSON" weightage="20" keywordseo="Anand-Mahindra">Anand Mahindra</keyword> said that India is not dialing down on its ambitions and is on track to meet the Paris commitment. </li><li>He said the business community recognises this as a big opportunity. </li><li>The Mahindra Group chairman said that India knows that recognising climate change is important for survival. </li></ul>Mahindra &amp; Mahindra has been at the forefront of India’s <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> revolution, having acquired Reva Electric Car Company back in 2011. Since then, the company has launched many other electric cars for the Indian market - stressing upon <a href="https://www.thehindubusinessline.com/multimedia/video/sustainability-as-a-business-priority-anand-mahindra/article24495693.ece">sustainability</a> as a business priority. Now, at the <keyword id="69007" type="ORGANIZATION" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword>, the Mahindra Group chairman Anand Mahindra replugged India's commitment to the Paris Agreement. Mahindra added that the India is not dialling down on its ambitions and went on to cite a climate tracker report, which found that in a 32-country survey, only seven are on track to meet the Paris commitment and India is one of them. “The business community too recognises that this is not a problem they are solving alone or something you check on your CSR box. This is the biggest business opportunity for the next few decades,” he said. He reminded the audience at WEF that on behalf of his employees of all the 100 companies from his group had taken a pledge to be carbon neutral 10 years before the agreed deadline for the world in the Paris agreement. The Mahindra Group chairman speaking at a session – <a href="https://www.thehindubusinessline.com/news/science/anand-mahindra-at-wef-india-on-track-to-meet-climate-change-commitments/article26067632.ece">Safeguarding our Planet</a> – was also asked about India’s growing air pollution menace to which he replied that the Indian youth is conscious about this issue. “They know it is their home and not a hotel and no one will be able to check out from here. Everyone’s got that message” he said. See Also: <a href="https://www.businessinsider.in/world-economic-forum-2019-where-raghuram-rajan-says-india-will-be-bigger-than-china/articleshow/67651548.cms">Davos Digest: Raghuram Rajan lifts India's spirit and other stories from the World Economic Forum</a> <a href="https://www.businessinsider.in/why-the-staggering-costs-of-climate-change-on-india-are-much-more-than-monetary-losses/articleshow/66161296.cms">Why the staggering costs of climate change on India are much more than monetary losses</a> <a href="https://www.businessinsider.in/can-latecomer-maruti-suzuki-rev-up-electric-car-sales-in-india/articleshow/67534315.cms">Can latecomer Maruti Suzuki rev up electric car sales in India?</a>

At Davos: India's pioneer electric car maker is pushing for action against climate change

<ul><li>Alibaba Group Founder, Jack Ma, stressed the importance of finding the right first job at Davos. </li><li>He thinks that quitting at an early stage doesn’t allow people to fit in. </li><li>Though your first job may not be your ‘dream job,’ he told, it should be the one that stretches you with the learning process.</li></ul>While the <keyword id="69007" type="COMPANY" weightage="20" keywordseo="World-Economic-Forum">world economic forum</keyword> tabled various political agendas and economic woes of countries, it also featured a <a href="https://www.cnbc.com/2019/01/24/careers-advice-jack-ma-alibaba-says-first-job-is-the-most-important.html">career advice</a> platform for its audience. During his session in Davos, Jack Ma, Founder of Chinese e-commerce chain Alibaba, said how ‘the first job is the most important’ one and urged young people to 'promise’ themselves to stick to it for at least three years, which will let them sink into the work and figure out challenges and the strengths to overcome them. Though your first job may not be your ‘dream job’, he said, it should be the one that stretches you with the learning process. And it’s not necessary that it should be a good brand name, but it should have a good boss who nourishes you with the right way of doing things, he added. Fresh entrants frequently hop jobs that can have disastrous consequences, according to him. 
 
 
 
 
 
 
 
 
 
 
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 The advice, however, reflects his own experience as a teacher and leader at the two-decades old e-commerce giant. He pointed out that through his journey, he has seen young people quitting their jobs at a very early stage, which doesn’t allow them to fit in and work efficiently. Separately, he added that he prefers to hire people<a href="https://www.businesstoday.in/wef-2019/i-hire-people-who-are-smarter-than-me-says-alibaba-chairman-jack-ma/story/313207.html"> ‘smarter’</a> than him — who have the potential to lead the way, years down the line. See also: <a href="https://www.businessinsider.in/china-and-india-brace-for-5g-race-and-angela-merkels-message-to-un-imf-and-world-bank/articleshow/67666570.cms">Davos Digest: 5G is coming soon, India's growing clout and poll-bound politics carries mood to WEF 2019</a> <a href="https://www.businessinsider.in/chairman-of-mahindra-group-that-makes-electric-cars-upsells-indias-performance-on-paris-pact-on-climate-change-at-wef-2019-davos/articleshow/67656856.cms">At Davos: India's pioneer electric car maker is pushing for action against climate change</a> <a href="https://www.businessinsider.in/world-economic-forum-2019-where-raghuram-rajan-says-india-will-be-bigger-than-china/articleshow/67651548.cms">Davos Digest: Raghuram Rajan lifts India's spirit and other stories from the World Economic Forum</a>

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Shifting to old pension scheme may lead to liability add-up in future: Raghuram Rajan

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Davos Digest: Raghuram Rajan lifts India's spirit and other stories from the World Economic Forum

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Rajan effect at WEF!

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At Davos: India's pioneer electric car maker is pushing for action against climate change

Sanchita Dash

Alibaba’s Jack Ma tells millennials to stick to their first jobs for at least three years

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