Contact Your Financial Adviser Money Making MC
21 March 2018
 |
| Raghuramrajanpolicy (The Total Investment & Insurance Solutions) |
Former
RBI Governor Raghuram Rajan has said reforms are likely to be put on the shelf
till the next general elections but expressed hope that the country will move
up to a "higher plane of growth" thereafter.
Rajan
also raised concerns about employment generation, saying India's 7.5 per cent
growth will not be able create good jobs for the 12 million people coming into
the labour market every year.
The
next general elections are scheduled in early 2019.
"I
think to some extent, reforms will be put on the shelf till the next election.
But post-election, if we can accelerate this pace of reform, there's no reason
why in two or three years we couldn't move up to a higher plane of
growth," he said in an interview to CNBC.
Rajan,
who is currently a professor of finance at the University of Chicago Booth
School of Business, further said India can move up from the 7.5 per cent
growth, which is not enough to employ the 12 million people coming to the
labour force every year in good jobs.
"We
can move up to maybe 10 per cent, provide some kind of source of demand for the
work. We can do that but I think we need to work on it," he observed.
Rajan
noted that reforms are happening in India but more slowly than one would wish.
"That's
potentially the cost of getting political agreement," he said.
Noting
that the world has become less receptive to exports, Rajan said," So if
India becomes a manufacturing giant overnight, who's going to buy its stuff?
So, India needs to think about its pathway of growth, it will be different from
China's."The Total Investment
& Insurance Solutions
No comments:
Post a Comment