Important Need To Be Frightened Out Of Complacency - Raghuram Ranjan on GDP Numbers

scorpionking76

Administrator
EntMnt Staff
The growth numbers should alarm everyone, Raghuram Rajan wrote in a post on LinkedIn on Monday, suggesting that India is even worse off compared to two of the most Covid-hit advanced countries that have also suffered a contraction - the US and Italy.

The government and its bureaucrats need to be frightened out of their complacency and a stimulus is critical to prevent an "atrophied" economy, former RBI chief Raghuram Rajan has said in a post reacting to what he calls India's alarming -23.9 per cent quarterly GDP. Without relief measures, the growth potential of the economy would be "seriously damaged", he said, commenting that the government seemed to have retreated into a shell.

The growth numbers should alarm everyone, Raghuram Rajan wrote in a post on LinkedIn on Monday, suggesting that India is even worse off compared to two of the most Covid-hit advanced countries that have also suffered a contraction - the US and Italy. "The pandemic is still raging in India, so discretionary spending, especially on high-contact services like restaurants, and the associated employment, will stay low until the virus is contained. Government-provided relief becomes all the more important," he said.

"Need To Be Frightened Out Of Complacency": Raghuram Rajan On GDP Numbers
 

D_Major

Administrator
EntMnt Staff
Again Rajan threatening Indian economy.
 
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