Interacting with India Today and Aaj Tak News Director Rahul Kanwal at Business Today’s Davos Brainstorm, former RBI Governor Raghuram Rajan said that if inflation is at 4 per cent, which is the mid point range, people don't bother about it too much
Talking about India's growth story, Raghuram Rajan said that India's growth this fiscal year has been spectacular at 7% but it is important to look at details of that growth to feel comfortable
Raghuram Rajan highlighted that India grew fairly fast in the early part of the year rebounding from the slow growth as a result of the pandemic
On the sidelines of the World Economic Forum 2023, Raghuram Rajan also pointed out that in the later part of the fiscal, India's growth rate slowed down to about 5 per cent, which he called a "worrying issue"
"Going forward, 5 per cent rate may be even less because of the effects of slowing global economy. We can't be complacent," Raghuram Rajan said at on the sidelines of WEF 2023 in Davos
Highlighting the importance of a baseline while comparing data with other countries, Raghuram Rajan said that from 2019 to 2022, India has grown 2.5 per cent a year
"If you look at India, it is 7 per cent below the base line according to JP Morgan. We haven't gone back to where we were," said Raghuram Rajan at Davos
Raghuram Rajan said that interest rates hikes are going to be higher globally for longer than market expects and therefore it is going to be very hard for an emerging market to be out of sync
When Rahul Kanwal asked whether Pakistan is on the way to become Sri Lanka, Raghuram Rajan said that it depends on how much money does it get both from the IMF and the Middle East
Talking about Rahul Gandhi, the former RBI Governor said that Congress leader Rahul Gandhi is a “smart man” and that his “pappu” image was unfortunate. “He is a smart, young, curious man,” added Raghuram Rajan
In a media interview during WEF 2023, Raghuram Rajan said that the collapse in prices of digital assets over last year will allow investors to focus on the ‘true value’ of this technology
"The idea that somehow cryptos are going to maintain value, while the fiat currencies collapse. That's nonsense," said Raghuram Rajan