Rupee has tumbled about 10 per cent alone since Rajan's appointment on August 6.
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.
Even as Standard & Poor's and Fitch have warned India's sovereign ratings could be cut to junk level, the government's chief economic advisor, Raghuram Rajan, says there is no point in grudging that India's ratings are on a par with debt-ridden European nations.
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
RBI ex-governor's book on 'those turbulent but exciting times' to be launched on Sept 5 in Chennai.
Central bank governor says the devaluation like China or Japan is neither feasible nor a good strategy
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
Rediff.com did a word cloud analysis of the governor's speech.
'The CoA feels that if David has declared and is not taking remuneration from India Cements, he is not in conflict'
He takes over at Mint Road at a time when the governor's job is even less easy than it is normally.
'For a large vibrant economy like India's, there is always hope. We still have tools to tackle our problems. But we must exercise those tools with vigor and a sense of urgency.' Professor Raghuram Rajan, the celebrated economist who will be the Reserve Bank of India's next governor, revealed what India must do to start growing again in this memorable speech last year. Can he now deliver results?
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
Raghuram Rajan optimistic about passage of GST
Expectations are high. There is a little bit of euphoria in India, says RBI governor.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
'The 'Off-with-Rajan's-head' brigade bases its arguments on mistaken beliefs, erroneous causalities, and even downright prejudice.'
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
Never one to mince words, Rajan will walk away with a mixed legacy
India's consumer inflation should ease in the next two months, and will fall to 8 per cent by the end of the year, says RBI Governor Raghuram Rajan.
RBI kept all key rates unchanged in its policy review on Tuesday.
Cricket icon Sunil Gavaskar celebrates a magnificent 75th birthday on July 10th. Rediff.com picks 15 facts about Sunil Gavaskar you need to know:
When asked if he sees himself back in Chicago, he said, "Yeah, Chicago has been kind to me over my history".
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
Rajan will evolve a policy with the help of professional persons for a national consensus if we have to carry on with implementing social and economic changes in a complex economy.
It would be beneficial for the economy to hold on to high interest rates till inflation numbers are under control.
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
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".
Raghuram Rajan's 'surgery' uncovers more bad loans
"I am an Indian citizen, I have always been an Indian citizen. I always held an Indian passport. I held an Indian diplomatic passport when my father was in the foreign service and when I travelled on behalf of the ministry of finance," Rajan said.
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
'I yet again implore you to start working as a team for the betterment of the athletes and the Olympic Movement in India.'
No question of going back on IOA CEO's appointment, says PT Usha
Rajan's appointment will be perceived as a positive development.
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
