How I read the economy

Former Union Finance and Home Minister P Chidambaram inarguably knows more about the economy – and the possible fallout of demonetisation – than most of us. Which is why his take on the subject – from the dangers of demonising cash to the flawed belief that currency exchange offers any protection against counterfeiting – was both insightful and germane. But he was perhaps most succinct when asked what he would have done had he been asked to execute demonetisation as FM. “I would have refused, and if my refusal were not accepted, I would have resigned.

The straight talk wasn’t over yet.

Agriculture and trade policy analyst Devinder Sharma may seem like an unlikely provocateur, but in a brief 20 minute conversation when he joined Mr Chidambaram onstage, he threw the audience a curveball: the necessity of recalibrating India’s economic model to place the farmer at the centre of growth, and the shape-shifting proposal that farmers be paid a fixed minimum annual income to protect our food security and reduce farmer suicides.

We’re going to invite Devinder back to debate this radical idea in detail soon. Till then, watch the full session above.