Former RBI governor Raghuram Rajan said that the new year will be more difficult for the Indian economy along with the rest of the world due to war and other global circumstances. We'll be lucky even if Indian GDP grows at 5 percent next year amid high inflation, high key interest rates, and slowing exports.
Rajan said, higher global commodity prices are driving up inflation in India. This will hurt the economic growth rate. In conversation with Congress leader Rahul Gandhi, the former governor said that slow exports and a declining growth rate are big problems for the country. To deal with this, technical support and credit are needed. There should be certain about the policies as well.
The rate of growth was already slow
There is a big problem with the growth figures, the former governor said. You are judging what looks good. Ideally, we should compare 2019 and 2022, ie before the pandemic. The pandemic was only part of the problem. But, India's growth rate was already slow.
Increased inequality between the rich and the poor
Four-five capitalists are continuously getting rich in the country. Two Indias are being created. One of the farmers and the poor, while the other of these capitalists. This is increasing income inequality… To this, Rajan said, the income of the upper-middle class increased in Corona because they could work from home. But the poor had to go to the factories and they were closed. This stopped the monthly income of the poor. This has further increased inequality. We cannot be against capitalism, said on wealth in the hands of a few industrialists. We should be against monopoly as it is not good for the country.
That's why small companies cannot become big
The economist said the reason why small companies in the country do not become huge is that they get used to some of the advantages of being small. We take those benefits back as they get older. Instead, why don't we say that if you (companies) become big then the benefits will be available for 5 years? The government should help companies to make them big, he said.
Also Read: GDP: GDP size may increase by 22 lakh crores, fiscal deficit will also increase by 3.3 lakh crores
Prime Minister Narendra Modi will give the gift of health insurance to citizens aged 70 years and
India has only 255 researchers per million people. State governments have to ensure funding for r
Bangladesh captain Shakib Al Hasan said that currently, three teams seem to be the strong contend
Russian President Vladimir Putin announced on Thursday night that his army will not attack Ukrain
The Indian football team has started with a win in the SAFF Championship. They thrashed arch-riva
People from Delhi-NCR including Uttar Pradesh, Punjab, and Haryana are facing the brunt of severe
Central government in action to curb 'abuse' of Grok AI; contacted Elon Musk's X.
AI chatbot Grok appeared on the social media platform X of the world's richest man Elon Musk. But
A few days ago, former Congress President Rahul Gandhi (Rahul Gandhi Death Threat) had given a st
The Ministry of Education decided to cancel UGC NET June 2024 on Thursday night. The exam was can
In the Umesh Pal kidnapping case, the Prayagraj MP-MLA court on Tuesday sentenced former MP and m
