Of Counsel: The Challenges of the Modi-Jaitley Economy

Of Counsel chronicles Arvind Subramanian's tenure as Chief Economic Advisor to the Indian government from 2014-2018. The book provides an insider's perspective on major economic policies and reforms during Prime Minister Narendra Modi's first term, with particular focus on the partnership between Modi and Finance Minister Arun Jaitley. The narrative covers key developments including the implementation of GST, demonetization, twin balance sheet crisis, and various structural reforms undertaken during this period. The author presents detailed analysis of India's macroeconomic challenges and policy responses through statistical evidence and economic frameworks. Through his account of policy deliberations and economic decision-making at the highest levels of government, Subramanian examines both successes and setbacks in India's economic trajectory. Technical concepts are explained through accessible examples and metaphors that connect complex policy issues to everyday experiences. The work serves as both a historical record and analytical examination of a crucial period in India's economic transformation, raising fundamental questions about development, reform, and the relationship between political leadership and economic policymaking.

Readers note this book provides an insider's perspective of India's economic policies from 2014-2018, as Subramanian served as Chief Economic Advisor during this period. Liked: - Detailed analysis of demonetization's impact - Clear explanations of GST implementation - Balanced view of both successes and failures - Data-driven approach to policy assessment Disliked: - Some sections are too technical for general readers - Limited discussion of certain key reforms - Not enough personal anecdotes about working with Modi/Jaitley - Focus mainly on macroeconomic issues rather than ground-level impact Ratings: Goodreads: 3.9/5 (176 ratings) Amazon India: 4.2/5 (289 reviews) Notable reader comment from Amazon: "The book excels in its economic analysis but falls short in providing the human element of policy-making that readers expect from a memoir." [Note: Limited review data available online for this book compared to more mainstream titles]

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🔷 Author Arvind Subramanian served as Chief Economic Adviser to India's government during 2014-2018, giving him unique insider access to the economic policies and decisions he analyzes in the book. 🔷 The book reveals that demonetization in India led to a 2% drop in GDP growth, equivalent to about ₹2-2.5 trillion in lost economic activity. 🔷 While serving under Modi's government, Subramanian pioneered the Economic Survey's distinctive blue cover design and introduced creative chapter titles to make economic concepts more accessible to the general public. 🔷 The title "Of Counsel" is a play on words - referring both to Subramanian's advisory role and to the legal term for an attorney who has a relationship with a law firm but isn't a full partner. 🔷 Despite being part of the government, Subramanian maintained his academic connection with Peterson Institute for International Economics and Harvard's Kennedy School throughout his tenure, bringing scholarly rigor to his analysis.