Rediff.com did a word cloud analysis of the governor's speech.
It would be beneficial for the economy to hold on to high interest rates till inflation numbers are under control.
Former Prime Minister Manmohan Singh was a brilliant economist with a visionary outlook on India's potential, combined with a fine sense of political feasibility, former RBI Governor Raghuram Rajan said on Friday. Singh, the architect of India's economic reforms, passed away here late on Thursday at the age of 92.
Because of Rajan's policies, the banking system has mustered enough courage to disclose their toxic assets
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
India is not reaping the benefits of demographic dividends, former RBI governor Raghuram Rajan said on Tuesday, emphasising that there is a need to focus on improving the human capital and enhancing their skill sets. "I think we are in the midst of it (demographic dividend), but the problem is we are not reaping the benefits," Rajan said at a conference on "Making India an Advanced Economy by 2047: What Will it Take" at the George Washington University in Washington DC. "That's why I said 6 per cent growth.
Former Reserve Bank Governor Raghuram Rajan said India will still remain a lower middle country if the potential growth rate remains at 6 per cent annually without any rise in population by 2047 (Amrit Kaal) and will be reaching the end of the demographic dividend by then. Speaking at a programme organised by Manthanon on Saturday, the economist said if the country does not grow faster, it will grow older (demographically) before it gets richer, which means there is the burden of an aging population to deal with also at that point. Rajan said the GDP growth in India for the past two quarters was in the region of 7.5 per cent and if one looks at the labor force participation, it is very low and when it comes to female participation, "it is the lowest in the G20".
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
Former RBI governor Raghuram Rajan on Tuesday said it is too premature to think that India will replace China when it comes to influencing global economic growth. However, the situation may change going forward as India is already the world's fifth largest economy, it is growing and has the potential to keep expanding. At a World Economic Forum (WEF) press briefing on the recently released Chief Economists Outlook that saw majority of them expecting a global recession in 2023, Rajan said any recovery in the Chinese economy would definitely boost the global growth prospects.
Kumar said that while the rise in percentage of population of the deprived castes has led to increase in the quotas for SCs, STs and OBCs from 50 to 65 per cent, his government also planned to undertake a number of welfare measures for the benefit of "94 lakh families", which according to the survey lived in abject poverty.
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
Reserve Bank of India Governor Raghuram Rajan said, in an election year, it is better to be ready for any eventuality.
The Reserve Bank has reduced interest rate by 150 bps since January 2015.
After the e-mail was received, the RBI officials alerted the police.
Inflation target remains 5% for January 2017.
Dr Rajan is a person of very high caliber
Union Minister Nirmala Sitharaman was on Monday critical of RBI Governor Raghuram Rajan's description of Indian economy as the "one-eyed king in the land of the blind", saying better words should have been used.
Graphic representation of lending rate cut by RBI.
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
The Congress party has tweeted a 1.44-minute clip from the conversation which will be aired in full at 9 am Tuesday.
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RBI is scheduled to unveil its credit policy on June 3.
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The central bank will come out with two measures on restructuring to tackle financial stress, Rajan said.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Of the seven members, four are proposed to be government nominees and the rest from RBI.
RBI Governor Raghuram Rajan stressed that trade, immigration and capital flows must not be hindered.
The argument that India is going towards a 'Hindu rate of growth' is "ill-conceived, biased and pre-mature" when weighed against the respective data on savings and investments, said SBI Research in its Ecowrap report. The term Hindu rate of growth was coined by economist Raj Krishna in 1978, which denoted the economic growth of about 3.5-4.0 per cent in terms of GDP during 1947-1980. "India's quarterly sequential Y-o-Y GDP growth has been in a declining trend in FY23.
The S&P BSE Sensex was up 241 points at 26,867 and the Nifty50 gained 68 points at 8,239.
Retail inflation was at a 25-month low of 8.1 per cent in February.
The party is very much united and working together, the AICC general secretary organisation said.
Reserve Bank of India's former governor Raghuram Rajan on Wednesday joined Rahul Gandhi during the Congress-led Bharat Jodo Yatra in Rajasthan.
Gross non-performing assets of public sector banks have gone up.
While achieving an eight per cent retail inflation rate by January 2015 is well within reach, Reserve Bank of India Governor Raghuram Rajan notes there is a second target, of six per cent by 2016.
The 557th meeting of the Central Board was chaired by RBI Governor Raghuram Rajan, and attended by the four deputy governors among others
In the mid-quarter review on December 18, the Reserve Bank left key policy rates unchanged but said it will hike interest rates if inflation does not subside.
The meeting, which comes just days before the next bi-monthly monetary policy review on June 3, lasted for about 50 minutes.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
Finance Minister Arun Jaitley said in a Twitter post that the government appreciated all of Rajan's good work and respected his decision
Indians' belief in the country's economic future has diminished in the recent years, with the COVID-19 pandemic taking a further toll on sentiment while pushing many middle-class citizens into poverty, former RBI governor Raghuram Rajan has said. Virtually addressing an event organised by the NALSAR University of Law, Rajan further said the domestic stock market is booming but that does not reflect the reality that many Indians are in deep distress.
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