Raghuram Rajan, former Reserve Bank of India governor and the Katherine Dusak Miller Professor of Finance at Chicago Booth was the guest at ThePrint’s Off the Cuff.In a conversation with Editor-in-chief Shekhar Gupta, Rajan shares his assessment of the Indian economy and the actions taken by the Narendra Modi government in handling the pandemic and the resultant consequences.
Loss of jobs and livelihoods during the pandemic may leave Indians more impoverished, Rajan said. He also talked about how demonetization, the implementation of the goods and services tax and the government’s handling of the Covid lockdown have dealt a body blow to the economy.
He also delved upon why India needs to bring in comprehensive reforms and pointed out how the last set of serious growth enhancing reforms were during the first tenure of the National Democratic Alliance which ruled between 1999 and 2004. He also weighed in on what Bangladesh has done right to become a fast growing economy in South Asia.Rajan stressed the need for protecting and respecting strong institutions to make India a first world country.
Do watch till the end to find out why the former governor still doesn’t own a motorbike despite being an avid fan.
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