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.
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.
Former Reserve Bank of India governor Dr Raghuram Rajan -- the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago -- walked with Congress leader Rahul Gandhi during the Bharat Jodo Yatra in Sawai Madhopur, Rajasthan, on Wednesday, December 14, 2022.
Reserve Bank of India's former governor Raghuram Rajan on Wednesday joined Rahul Gandhi during the Congress-led Bharat Jodo Yatra in Rajasthan.
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.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
There were two questions everyone wanted to know the answer to. 1. Did Raghuram Rajan advise the Congress on the much-discussed NYAY scheme, as claimed by Rahul Gandhi? 2. Will Raghuram Rajan become India's next finance minister?
The government and the RBI are working together to tackle the country's economic problems but there is no "magic wand" to fix them, said Raghuram Rajan, who will take over as central bank governor next month.
'We should look at is full year's growth rather than quarter numbers.'
'That way you're not hostage just to US sort of exports to India.'
Rajan says that China should not be solely blamed for global imbalances. Rajan is hopeful but not confident of reviving Doha trade talks.
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.
'It's important for India to think about areas where it wants the US to move.' 'We can be far more innovative in what we ask the US.' 'Given that there's a package deal, why not do it?'
Raghuram Rajan becomes the 23rd governor of Reserve Bank of India.
Inflation target remains 5% for January 2017.
RBI Governor Raghuram Rajan on Friday said repo rate has been hiked as inflation pressures remain high.
Rajan has shifted from the conventional ground floor room occupied by CEAs to a room on the first floor, adjacent to Chidambaram's office.
At the Mumbai launch of his latest book, The Third Pillar: How Markets And States Leave The Community Behind, former RBI governor Raghuram Rajan served up an interesting mix that included Taylor Swift, Donald Trump, privileged families and a strong dose of commonsense economics.
Following up on his barb last week that Rajan should be sent back to Chicago, BJP MP Subramanian Swamy has written a letter to the Prime Minister saying how a person appointed by the UPA government should be continued in the post.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
It would amount to penalising the people, who make an attempt to repay loans.
Rajan, who will complete a month as the governor of Reserve Bank of India on Friday has already succeeded in restoring calm in the foreign exchange market.
It is the government and its policies and attitude toward FDI that is at the root of the problem.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
On September 4, at a time when the rupee was the worst performer among Asian currencies, Raghuram Rajan took charge as RBI's governor.
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.
Zzungry said it had introduced limited edition of 'Ulundu kozhukattai' and 'Kova kozhukattai' that are inspired from the cuisines of two states that hold great relevance in the life of Raghuram Rajan.
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
Rajan said the government focussed more on fulfilling its political and social agenda rather than paying attention to the economic growth.
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The Congress led UDF government in Kerala has asked Prime Minister Manmohan Singh to reject the Raghuram Rajan panel report evolving new formula for devolution of funds to states.
Raghuram Rajan's exit reminds Syed Firdaus Ashraf of Kafka's The Trial.
Rollback of July tightening measures indicates comfort on currency but a repo rate hike is around the corner.
India's chief economic adviser, Raghuram Rajan has been appointed as the governor of the Reserve Bank of India.
New RBI Governor Raghuram Rajan on Wednesday came out with a slew of measures, including more trade settlement in rupees to rescue the battered financial markets and hinted at a shift in focus from inflation control, doggedly pursued by his predecessor, to boosting growth.
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 man widely expected to be India's next central bank chief favours clipping the autocratic power of the role and giving more say to a monetary policy committee.
RBI Governor Raghuram Rajan is regarded as credible by global financiers.
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