SBI debunks Raghuram Rajan’s remarks on Indian growth slowing down
Former RBI governor Raghuram Rajan earlier remarked that the economic growth of India was close to 'Hindu rate of growth'
Former RBI governor Raghuram Rajan earlier remarked that the economic growth of India was close to 'Hindu rate of growth'
"This initiative of the Chhattisgarh government is the best bottom-up approach in the country," he said during a visit to Adarsh Gauthan.
A study of recent bank failures would show that bank NPAs were a consequence of the lending of funds beyond the repaying capacity of borrowers. Most of such lending was motivated; the creditworthiness of the borrower was overestimated for extraneous considerations.
In the first such dialogue Gandhi discussed the coronavirus pandemic and its economic implications with former Reserve Bank of India governor Raghuram Rajan
The former RBI governor further stated that India needs to be cleverer in lifting the lockdown as it has limited capacity to feed the poor.
Globally, the official death toll reached 227,644, and at least 3,193,961 people have been infected worldwide according to Johns Hopkins University data.
He also cautioned that driving everything from the Prime Minister's Office, with the same overworked people, may not be of much help.
The former RBI Governor said that the makers of Indian constitution had come through the horrors of a fratricidal partition and sought to create a more united future by drafting 'a document that attempts to draw out the best in us in a spirit of common purpose and pride.'
The party supported concerns raised by former RBI governor Raghuram Rajan, who said India is in the midst of a "growth recession" with signs of deep malaise in the economy that is being run through extreme centralisation of power in the PMO and powerless ministers.
India's economic growth slowed to a six-year low of 4.5 percent in the July-September quarter. With inflation rising, fears of stagflation, a fall in aggregate demand accompanied by rising inflation, have resurfaced.
