RAGHURAM RAJAN INDIA ECONOMY
India needs 1 million high-tech engineers as economy expands
India’s $250 billion tech sector plays an important role in the economy, employing about 5.4 million people. Tech services make up about 7.5% of the country’s $3 trillion-plus gross domestic product.
In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev Sanyal
There are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
Former RBI Governor Raghuram Rajan warns against fake videos of him recommending stocks
Former Reserve Bank of India (RBI) Governor Raghuram Rajan has cautioned investors against fake videos of him circulating on social media, giving investment tips, especially on individual stocks.
In search of 'decent work'
Former RBI Dy Guv Mohan said India could not break out of lower-income levels without massive employment in low-wage manufacturing. Lack of 'decent jobs' was so acute that Uttar Pradesh had 4 mn applicants for 60,000 constable jobs. India's labour force participation was barely 50% against 78% for Vietnam, 76% for China, and 65% for Indonesia. This underemployed mass could not be employed fully in services. So, it was essential to boost manufactured exports - that alone would produce enough 'decent jobs'.
Investors must take Rajan’s promise, not Pitroda's threat
Investors are anxious about the potential impact of the ongoing general elections on economic policies. The possibility of the INDIA alliance, led by the Congress Party, coming to power has raised fears of a significant policy shift, particularly following suggestions of introducing an inheritance tax. However, it's important for investors to differentiate between exaggerated concerns and actual risks.
Raghuram Rajan on politics: ''My business is not kissing babies''
Former RBI governor Raghuram Rajan dispels political rumors, supports Rahul Gandhi's leadership, and advocates for faster Indian economic growth by 2047. He critiques India's current growth rate and job creation efforts, emphasizing the need for faster development.
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India to stick to policy path even if Modi loses, says Raghuram Rajan
Former central bank Governor Raghuram Rajan addressed concerns about possible selloff in financial markets if the Bharatiya Janata Party loses support post-Indian elections. Rajan emphasized the need for economic reforms and infrastructure quality improvement.
JLR plans to start making flagship Range Rover model in India
The local assembly will translate into a 18-22% price reduction, Amba said. The Range Rover will drop to Rs 2.6 crore from Rs 3.3 crore while the Range Rover Sport will fall to Rs 1.4 crore from Rs 1.8 crore. India levies a duty of 15% on completely knocked down kits and more than 100% on imported models.
India needs to focus on manufacturing, achieve greater sophistication: Nirmala Sitharaman to Indian Inc
Finance Minister Nirmala Sitharaman flagged the need for India to boost its manufacturing sector to achieve self-reliance and increase its share in the global value chain. She highlighted the importance of policy support and sophistication in product manufacturing to attract investment and reduce dependence on China. The minister also discussed the success of the PLI scheme in sectors like telecom and electronics, showcasing India's potential for growth and investment.
'Elevate, rather than bringing the successful down', says Raghuram Rajan as he advocates inclusive growth over wealth tax
Raghuram Rajan, former RBI governor, advocates for inclusive growth over wealth tax, emphasizing the need to uplift individuals for economic development. His remarks follow a discussion sparked by Sam Pitroda on wealth redistribution, with Rajan cautioning against excessive taxation of the wealthy. He highlights the importance of examining neglected segments of the economy and suggests policy measures like minimum wage standards for wealth distribution. Rajan also stresses the significance of job creation for social stability and demographic dividends.
India’s policies subject to whims & fancies? Raghuram Rajan, Surjit Bhalla weigh in on why foreign investment is down
India's status as the fastest-growing major economy is undermined by inconsistent policies, hindering foreign investment flow, according to economists Raghuram Rajan and Surjit Bhalla. Despite recent attraction to global investors, policy uncertainty, high taxes, and erratic tariff changes deter sustained investment. Rajan emphasised the need for predictability and ease of doing business.
Rajan wants India to remove the fluff from GDP numbers and take a leaf out of China's book
Speaking at a conference on "Making India an Advanced Economy by 2047: What Will it Take" at the George Washington University in Washington, the former banker said India needs to "take away the fluff" in its GDP numbers. Rajan extolled the need to focus on improving human capital and enhancing skill sets, adding, "I think we are in the midst of it (democratic dividend), but the problem is we are not reaping the benefits."
ET Exclusive: India's dire employment scenario visible in long queues for govt jobs, Raghuram Rajan says
Raghuram Rajan: Former Reserve Bank of India Governor highlights India's economic growth alongside concerning unemployment, emphasizing the shortage of private sector jobs. Despite government efforts in infrastructure, agriculture sees job growth while manufacturing lags. Rajan urges attention to job creation, criticizing insufficient data and political rhetoric. Unemployment remains a top voter concern.
Modi govt gave Bihar raw deal: Congress
"Today's questions for PM Modi as he heads to Bihar: Why hasn't Bihar been granted Special Category Status as the PM had promised?" Jairam Ramesh said on X. When will the Modi government address the flooding of the Kosi river and what happened to the airports that the PM promised, he asked.
RBI at 90: India's central bank must do better on supervisory front to not sully its track record
Reflecting on the 90-year journey of India's RBI, from political shifts to economic reforms, and its pivotal role in financial evolution. While successes in monetary policy stand out, challenges in bank supervision remain. Urgent reforms are needed for a resilient future.
Raghuram Rajan labelled 'parachute economist' over India making a big 'mistake' comments
Raghuram Rajan's recent remarks sparked controversy on social media. The former RBI chief cautioned against India's economic growth being overshadowed by underlying structural issues. He emphasized the need for the government to focus on improving education and workforce skills post-elections to harness the country's potential fully.
Raghuram Rajan thinks India making a big mistake believing ‘hype’ about its growth
India's former central bank Governor Raghuram Rajan warned that India's strong economic growth is overshadowed by structural challenges like poor education and skills. Rajan said there is urgent need for workforce improvement to harness the potential of the young population.
Why Raghuram Rajan is trending on social media after India's blowout GDP numbers
Former RBI governor Raghuram Rajan's forecast of 5% economic growth in 2023-24 trended on social media after India's October-December GDP figures were released. The final quarter of 2023 sees robust growth in manufacturing and construction, driven by increased infrastructure spending and incentives for manufacturing.
Paytm Crisis: When Raghuram Rajan bet on the payments bank plan to test innovation boundaries
Paytm is facing a regulatory curb by Mint Street. Former RBI Governor Raghuram Rajan had warned about Paytm's likely discomfort with regulators. Paytm is facing complaints of violating banking compliance norms, conflict of interest, lax processes allowing fraud, and licensing agreement breaches. RBI's technical audit reportedly found accounting and supervisory problems due to money and data traffic flows between Paytm Payments Bank and Paytm's other units
All is well: FM Sitharaman rubbishes claims of Indian economy’s ‘K-shaped’ unequal growth
In a post-Budget 2024 interaction, Finance Minister Nirmala Sitharaman dismissed assertions of a K-shaped recovery in India's post-COVID-19 economy, challenging critics who link good growth solely to rural luxury purchases. She emphasized that the government rejects the 'letter attribution' to the economy's growth, maintaining that every sector is contributing to overall growth.
Raghuram Rajan meets Uddhav Thackeray in Mumbai
Former RBI Governor Raghuram Rajan met with Shiv Sena (UBT) head and ex-Maharashtra chief minister Uddhav Thackeray at Thackeray's residence in Mumbai. Thackeray's son, Aaditya Thackeray, expressed delight in hosting Rajan and praised his contributions to the Indian economy.
Raghuram Rajan gives 3 reasons why India GDP exceeded his 5% prediction
Raghuram Rajan said he is happy that India is outperforming his expectations of 5% GDP growth. In this exclusive interview, he cites three reasons explaining why Indian economy grew faster than his prediction. The first two reasons - the industrial world did not slow down as was anticipated and muted Chinese demand for commodities - are not India's doing. "The third is enormous infrastructure investment by the government in the first two quarters of this year. That is what went right," Rajan said.
On malnutrition, Raghuram Rajan says Noida and Gurgaon like first world
"Parts of the Indian economy are first world," Rajan asserted, emphasizing that a significant challenge lies in bridging the gap and ensuring a uniform economic landscape across the nation by 2047. This observation comes amid Minister of State for Finance Pankaj Chaudhary's recent statement, envisioning India as a $5 trillion economy on its way to becoming an advanced economy by 2047, during the 'Amrit Kaal.'
If growth rate is not over 6%, India will remain lower middle economy by 2047: Former RBI Guv Raghuram Rajan
The former RBI chief said some southern states are growing with regards to population at below reproduction rate, in other words, the fertility rate has fallen below reproduction rate thus slowing the growth. "In other words, we will start the process of aging at some point around that time, which leads to the alarming question if we don't grow faster, we will grow old before we grow rich, which means we all have all the burdens of an aging population to deal with also at that point," he opined.
Stock market boom offering misleading picture of broader India economy: Raghuram Rajan
In the just-released book 'Breaking the Mould', Rajan and economist Rohit Lamba say that the stock market offers a misleading picture of the broader economy as the big are getting bigger and small ones are getting smaller.
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