New Delhi: Former RBI governor Raghuram Rajan has said the government should not have done “chest-thumping” on being the fastest-growing economy without achieving very strong GDP expansion for 10 years.
India can lecture the world on things such as culture and history, but on growth, it should do that only after achieving 8-10 per cent rate for 10 years.
RBI governor Raghuram Rajan
“Not that I was forecasting anything, I was merely saying we have to be a little cautious about being too bullish about ourselves. That remark was made in April 2016, every quarter since then, our growth has fallen. So, I would argue in hindsight, and I didn’t have any reason to believe that would be the case, but caution was warranted,” he maintained.