Don't go by hype on India's growth: Raghuram Rajan

He said India's structural issues need to be fulfilled

India must prioritise its education: Raghuram Rajan

Former Reserve Bank of India Governor and prominent economist Raghuram Rajan cautioned against India’s reliance on exaggerated economic growth claims. 

In an interview with a private channel, Rajan emphasized the need for addressing underlying structural issues to fulfill the nation’s potential. He warned against complacency, asserting that India must prioritize improving education and workforce skills to leverage its demographic dividend effectively. Rajan criticized Prime Minister Narendra Modi’s aim to develop India by 2047, deeming it unrealistic without addressing educational deficiencies and unemployment challenges.

He urged for a focus on sustainable growth, stressing the importance of creating quality employment opportunities. Rajan criticized the government’s emphasis on high-profile projects like chip manufacturing over fundamental education reforms. He advocated for a pragmatic approach, suggesting decentralization of authority to foster development and highlighted the imperative of mitigating inequality and promoting labor-intensive production for India’s economic progress.