Rakesh Mohan, Krishnamurthy Subramanian sing divergent tunes on PLI scheme

Vijay Kelkar bats for single 12% GST rate

Chief Economic Advisor (CEA) Krishnamurthy Subramanian and Economic Advisory Council to the Prime Minister member (part-time) Rakesh Mohan on Thursday were at variance on the production-linked incentive (PLI) scheme.

Mohan partly blamed the “misguided” exchange rate policy for the stagnation in merchandise exports for the past decade, necessitating a PLI scheme.

“We have lost out on trade. We have had trade stagnation in the past decade. Some of this is related to an increase in protectionism, the other to a somewhat misguided exchange rate policy, which is heavily overvalued,” said the former Reserve Bank of India deputy governor at a