Former Reserve Bank of India (RBI) Governor Raghuram Rajan said that the government was paying more attention to its political and social agenda than the economy. This is also an important reason for the economic slowdown. He said that if major problems taken care of, then the growth rate can return to track.
Raghuram Rajan said government responsible for the economic slowdown
Rajan said, “It is sad. I think politics is responsible for the lethargy. ”In an interview, he said that after a big victory in the elections, the current government is ‘insisting on fulfilling its political and social agenda’. Rajan said It sad that the growth rate continues to slow down, due to which the government’s decisions like demonetization and implementation of GST were considered responsible.
India has not paid enough attention to the financial sector
Rajan, Professor (Finance) at the University of Chicago Booth School of Business. However, said that India has not paid enough attention to the financial sector to recover. Also, sadly, there has been lethargy. He said, “If adequate attention given to these things, then the situation can change if appropriate steps are taken.”
On the question of the effect of coronavirus, he said that if we look at the global supply chain, there will definitely be some old problems. He said, “If something goes wrong, the entire chain affected.”