It is no secret that Professor Arvind Panagariya is Prime Minister Narendra Modi’s favourite economist.  He is the resident friend, philosopher and guide in Delhi.  He was the first Vice Chairman of NITI Aayog (January 2015 to August 2017). He served as India’s G20 Sherpa (2015-2017). He was appointed in April 2023 as Chancellor of Nalanda University and in December 2023 as Chairman of the 16th Finance Commission. He was head of several Task Forces.  His longevity in the NDA government is remarkable.

Dr Panagariya is a tenured professor in Columbia University and a free trader in the footsteps of his mentor, Dr Jagdish Bhagwati.  I admire them for their unfaltering commitment to an open economy and free trade. Since he is a loyal supporter of Mr Modi, his criticisms are discreetly disguised as ‘shabash, dil maange more’.

In a recent article, Dr Panagariya complimented the government with the words “2025 will go down in history as the year of economic reforms in India”. He knows that it is not true. The year 2025 saw little reforms. A search in the media and parliamentary proceedings will show that nothing significant under the label........

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