Former RBI governor on Modi's government

Tue Jan 14 2020 12:47:47 GMT+0530 (IST)

Former RBI governor Raghuram Rajan says India needs to implement significant reforms to boost the sagging Indian economy. Current growth level is not enough to create jobs to people who enter the labour force in India.

Raghuram Rajan was the Reserve bank of India governor between 2013 and 2016. Growth in the Indian economy is slowed down to 4.5% in three months, end of September quarter. In six years it is marked as the slowest pace of expansion. A lot of young people are entering into the labour force, we need to provide jobs to them. 5% simply doesn’t cut it.

Indian Industrial sector grew up in November, beating expectations. Some experts say that growth has slightly begun in the final 3 months of 2019. India faced a number of challenges including the financial sector.