Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
Rahul Gandhi hailed the RBI Governor for steering the Indian economy in "difficult times"
Stocks and rupee on Monday took an early morning plunge but soon recouped their losses.
Rajan was speaking in Hyderabad at an interactive session at National Institute of Rural Development and Panchayati Raj.
For India, Fitch Ratings has 'BBB-' rating.
Rajan announced a status-quo on interest rates.
The Governor said RBI does not limit itself too much when there is uncertainty.
Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
An Indian police team on Monday for the first time questioned underworld don Chhota Rajan and officials believe that he could be deported to India in the next two-three days.
The central bank gave 11 entities licences to start payments banks.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
Rajan has a great track record abroad.
Special CBI Judge Vinod Kumar passed the order after Rajan, produced before the court via video conferencing, pleaded not guilty and claimed trial.
The taxpayers and honest borrowers suffer when a big entity defaults.
Rajan said RBI should pay as much dividend as possible to the government, which over the past two years has run into billions of dollars
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
The single most important issue in Public Sector Banks is corruption.
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
The mismatch between industrialists' demand and account holders is because of inflation, Rajan said.
Head of central banks from various countries get into a 'Basel huddle' every second month at Basel at the headquarters of the Bank for International Settlement.
Rajan's first few measures include swap window facility for banks to lure in NRI funds.
RBI has, since January, cut its policy rate four times.
Raghuram Rajan, who has been pilloried by his critics for keeping interest rates high and has also been accused of stifling growth.
He was responding to a question on economic reforms in the country.
India needed more specialists within government
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
The CBI sources said the agency has charged them with criminal conspiracy, cheating, forgery and under Provisions of Prevention of Corruption Act in the chargesheet.
Dey, a veteran crime reporter, had planned a book, titled 'Chindi -- Rags to Riches', wherein he was going to write the stories of 20 gangsters with humble origins.
The ones who came more recently were clutching the green cards that gave them an escape hatch through which to return to green pastures: Arvind Panagariya, Raghuram Rajan, Arvind Subramanian and other perfectly honourable gentlemen like them, points out T N Ninan.
'The RBI risks becoming dangerously weakened, as successive governments and finance ministers have misunderstood its role'.
Helicopters are anticipated to be more in demand compared to fixed-wing aircraft as choppers will help in providing accessibility to rural and remote areas in a shorter time.
Rajan is an acknowledged academic, author and intellectual. He spoke on issues which are in the public domain, said Chidambaram
Raghuram Rajan optimistic about passage of GST
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
This compares with China at over $10 trillion and India $2 trillion.
Giving details of Rajan's 'course schedule' for 2016-17, Chicago Booth School said this course will explore the challenges of corporate finance and investment in a more integrated global economy.
After opting for status quo in policy rates, Reserve Bank Governor Raghuram Rajan on Tuesday said any more cut will depend on further transmission of previous rate cuts by banks, softening in inflation and progress of monsoon.
Rajan has already warned he does not have a 'magic wand' to deal with India's economic crisis.
'If equities perform well in a year, withdraw money from equities. If the equity market is down, shift withdrawal to the debt portion.'
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