The Reserve Bank of India hosted the Third Suresh Tendulkar Memorial Lecture on January 7, 2020 in Mumbai. The lecture was delivered by Mr. Tharman Shanmugaratnam, Senior Minister, Republic of Singapore. Shri Shaktikanta Das, Governor, in his opening remarks welcomed the guests and highlighted the significance of the lecture series instituted in honour of Professor Suresh Tendulkar in 2013 in recognition of his contribution to the economics profession and his association with the Reserve Bank.

Mr. Tharman spoke on the theme of “Broad-based Prosperity: Tackling the Fundamentals” focusing on problems and challenges in social and economic transformation that are critical to achieve broad-based prosperity. He further emphasised that both social and economic transformation should go hand in hand. Jobs growth and productivity growth were emphasised as prerequisites for social transformation. In the context of India, he highlighted the need for structural reforms in the areas of human capital and developing cleaner and smarter cities. On human capital, he noted reforms on education, health care, skill matching and labour market reforms. He also noted that new cities could serve as crucibles of inclusive growth. He highlighted that fintech and green finance could play a critical role in achieving inclusive growth and broad-based prosperity.

(Yogesh Dayal)    
Chief General Manager

Press Release: 2019-2020/1637