Hoover Institution fellow Raghuram Rajan notes that creation of jobs, tolerance of different views, and how we protect institutions like Supreme Court, Election Commission, and RBI, are the biggest issues facing India.
India will eventually surpass China in economic size and will be in a better position to create the infrastructure being promised by the Chinese side in South Asian countries, former RBI governor Raghuram Rajan said on Tuesday.
The opening shot of “Mother India,” the most iconic film made in India in the decade after its independence, is of an old peasant woman struggling to grow crops on parched land. Behind her are rumbling tractors and earth movers, unsubtle symbols of progress. Then the camera pans past electric cables and newly metaled roads to a magnificent dam, which will bring water to the arid earth.
The issue of parting with a portion of RBI reserves, which as of June stood at Rs 9.43 trillion, to the government has been a contentious issue between the government and the central bank for a long time.
Demonetisation slowed down India's economic growth at a time when the world economy was growing and it impacted the GDP significantly, former RBI Governor Raghuram Rajan said. Rajan said he has seen studies which reaffirm that banning of high value currency notes in late 2016 impacted India's growth significantly.
Former Reserve Bank of India governor Raghuram Rajan Friday stressed on the need to do away with farm loan waivers citing “enormous” problems for state finances and investment at a time when the Congress takes the helm in states it has won elections in based on its promise of waiving such loans, especially Chhattisgarh.