Core inflation is the portion of overall inflation that excludes food and oil. Since, food costs have decreased, which is generally what happens in the winter, Rajan argued that the problem with inflation is disinflation.
While talking with Congress leader Rahul Gandhi, the former governor of the Reserve Bank of India said, "India is also going to be hit. India's interest rates have also gone up but Indian exports have been slowing quite a bit. India's inflation problem is more about commodities inflation problem, ve
Known for his frank views, Rajan also said it was important to remember that the "war against inflation" is never over.
Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic.
Raghuram Rajan said that cryptos may pose the same problem as unregulated chit funds which take money from people and go bust.
Terming the 23.9 per cent fall in economic growth in June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action.
Rajan said that because of the slide in the growth over the last few years, India entered the current crisis in a more "debilitated" state as compared to its peers.
Former RBI Governor Raghuram Rajan has said that India can take global leadership role in fight against the coronavirus. Responding to former Congress chief Rahul Gandhi on one of his questions, Rajan said India would needs Rs 65,000 crore to help the poor in the times of pandemic and considering its total GDP, it can afford to do that.
Former RBI governor Raghuram Rajan has taken India's 21-day-lockdown to combat the spread of coronavirus with a pinch of salt, saying that the nationwide curfew might not necessarily check the spread of the epidemic
Former Reserve Bank of India (RBI) governor Raghuram Rajan said India is in the midst of a "growth recession" with signs of deep malaise in the Indian economy that is being run through extreme centralisation of power in Prime Minister's Office and powerless ministers.
Former RBI Governor Raghuram Rajan, who faced a stinging attack from Finance Minister Nirmala Sitharaman for presiding over the "worst phase" of the Indian banking sector, on Thursday reminded her that two-third of his tenure as the head of the central bank was under the BJP government.
The annual GDP growth in India decelerated to 6.8% from 7.2% in 2017-18 this year. Economic growth figures have been slowest since 2014. Former Governor of Reserve Bank of India Raghuram Rajan said that growth figures by a variety of private analysts are "significantly below" than government projections. He followed up by saying that "slowdown in the economy is very worrisome".
Addressing a meeting of his party workers at the Ramlila ground here, Gandhi said Prime Minister Narendra Modi promised to transfer Rs 15 lakh to every bank account but did not keep the promise.
In 2017, India became the sixth largest economy with a GDP of USD 2.59 trillion while China was the second larges with a GDP of USD 12.23 trillion, as per World Bank data.
Former RBI Governor Raghuram Rajan on Friday said farm loan waiver should not form part of poll promises and he has written to Election Commission that such issues should be taken off the table.
He said the PMO refused to comply with the direction of disclosure of action on Rajan's letter on "grounds which are not legal, which is unfortunate".
But the minister was silent on Rajan's criticism of the note-ban, which has disrupted everyone's life in general and that of small traders and small businesses in particular.
Addressing an audience at the University of California in Berkley on Friday, Rajan said for four years -- 2012 to 2016 -- India was growing at a faster pace before it was hit by two major headwinds.
Rajan's statement comes amid prevailing tensions between the Reserve Bank and the Finance Ministry.
Rajan, who was RBI governor for three years till September 2016, is currently teaching at the Chicago Booth School of Business.
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