From economic growth and demonetization to Bharat Jodo Yatra, Raghuram Rajan talked about many important issues.

New Delhi. Former Reserve Bank of India (RBI) Governor Raghuram Rajan has said that the ideas and opinions of critics should be attacked, not the intentions. He has said that for India’s progress, it is more important to listen than to preach like an omniscient world-guru. Rajan has often been trolled for his outspoken views. Rajan, in an interview to PTI, defended his association with Congress leader Rahul Gandhi’s Bharat Jodo Yatra, saying he strongly believes in the ideas of national unity and love, not hatred. He believes that the 135-day foot march was an attempt to make this clear. Terming as ridiculous the allegations by government supporters that Prime Minister Narendra Modi was responsible for some of the problems in the economy inherited by him, he said he had brought down inflation below double digits and cleaned up bad debt, the credit for which now goes to the government. Is taking. He also stuck to his statement that India would be lucky if it achieves five percent growth in the current financial year 2023-24. Rajan is a professor at Booth Business School, University of Chicago, USA. He was in India to talk about his new book Breaking the Mold: Reimagining India’s Economic Future. This book has been written jointly by him and Rohit Lamba, assistant professor of economics at Pennsylvania State University.

Rajan said, you cannot target an opponent by questioning his intentions. Attack their ideas. Don’t question their intentions. Don’t say that a particular person is anti-national. According to Rajan, debating on India’s progress is more important than just sitting and saying that I know everything, I am Vishwa Guru. He said that he believes very strongly in the ideas of national unity, inclusion, decency in public life, love. He said, I thought the Bharat Jodo Yatra was an attempt to explain that point. So I thought it was important to support the idea of ​​India that my parents grew up with. Rajan stressed that disadvantaged communities, women have to be more involved in the process of India’s development and growth.

Responding to a question on his statement last year, Rajan said, I was absolutely right. We were lucky… the world grew much stronger. He had then said that India would be lucky if it achieved five percent economic growth in 2023. To strengthen his argument, he said that America is three percent ahead of its economic growth estimate. We are now growing at the rate of six and a half percent. This is one and a half percent more. Rajan said that he is very happy to see the Indian economy growing at a fast pace and wants its pace to reach eight percent. Rajan attributed the sharp growth in gross domestic product (GDP) in the first half of the current financial year to infrastructure spending and good performance of the world’s major economies. However, he said that India still has a lot to do and the target of a five trillion dollar economy by 2025 is almost impossible. Rajan further said that despite India’s strong growth rate, private investment and private consumption have not picked up. He said the Indian economy has grown at the rate of about four percent per year in the last four years. Rajan said, this is much less than our growth potential (economic growth rate) of six percent. He said, so you said that inflation is controlled. One reason why inflation is out of control is that we have not grown at our potential rate.

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