RBI GOVERNOR RAGHURAM RAJAN
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'.
India's fast economic growth lays firm ground for next government
India's economy grew at a faster-than-expected 7.8% year-on-year in the first three months of 2024, driven by strong performance in the manufacturing sector. This growth pace is expected to support Prime Minister Narendra Modi's economic record, who is hoping to win a rare third term in the national election. The Reserve Bank of India's record surplus transfer of 2.11 trillion rupees ($25.3 billion) will help the next government increase state spending to boost growth.
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.
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.
FM Sitharaman bats for a bigger manufacturing play, looks to increase country’s share in global value chains
Finance Minister Nirmala Sitharaman advocated for a significant boost in domestic manufacturing to enhance India's self-reliance and integration into global value chains, rejecting the idea of solely focusing on services. Speaking at the Confederation of Indian Industry (CII) annual business summit, she emphasized the government's partnership with India Inc for national development. Sitharaman expressed confidence in Prime Minister Narendra Modi's re-election, planning to engage with CII post-elections for budget consultations.
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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.
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
View: Paytm crisis shows RBI under Raghuram Rajan didn't think about orderly resolution. Who loses now?
The RBI’s unhappiness isn’t new. It stopped Paytm Payments Bank from onboarding fresh customers nearly two years ago. Last year, while imposing a fine of $650,000 on the bank, the regulator highlighted a number of violations, including failure to identify beneficial account owners and a video-based customer identification that allowed connections from IP addresses outside India.
Unleashing ED before elections undemocratic: Ex-RBI guv Raghuram Rajan
Former RBI governor Raghuram Rajan expressed concern over the use of the Enforcement Directorate (ED) before elections, stating it is wrong and undemocratic. Rajan highlighted the recent arrest of JMM chief Hemant Soren on money laundering allegations, emphasizing that it's not just a political issue but a concern for everyone. He argued that putting opposition leaders behind bars limits choices for the people during elections. Rajan discussed these issues during the Jaipur Literature Festival and emphasized the importance of free speech and democracy for fostering research, creativity, and new ideas in various sectors.
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 highlights factors that can make India a developed nation by 2047
Economist Raghuram Rajan has said that India needs to focus on education and healthcare to become a developed economy by 2047. He emphasised the need for governance reforms and a strong foundation in education and healthcare. Rajan emphasised the need for balanced growth across all sections of society, as consumption growth is currently strong among the upper income levels.
What was the salary of ex-RBI Governor Raghuram Rajan? The answer may leave you in shock!
Raghuram Rajan, the former RBI Governor, candidly shared details about his tenure and revealed his annual salary during that time.
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.
Ideas and opinions of critics should be attacked but not their motives, says Raghuram Rajan
Former RBI governor Raghuram Rajan, known for his candid views, advocates attacking ideas and opinions of critics rather than questioning their motives. He defends his participation in Rahul Gandhi's 'Bharat Jodo Yatra,' emphasizing his belief in national integration and love over hate.
5 years of Shaktikanta Das: How a humble Guv calmed a turbulent RBI
Shaktikanta Das, the Governor of the Reserve Bank of India, faced a challenging role when he joined five years ago amidst a government-RBI conflict. Tasked with stabilising after his predecessors' - Raghuram Rajan and Urjit Patel - disputes with the government, Das aimed to restore confidence and stability to the RBI.
Infra spending, good performance by large economies push sharp uptick in GDP in H1FY24: Raghuram Rajan
India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing. At constant (2011-12) prices in April-September 2023-24 (H1 2023-24), GDP is estimated at Rs 82.11 lakh crore as against Rs 76.22 lakh crore during the corresponding period of the previous year, showing a growth of 7.7 per cent in H1 2023-24 as against 9.5 per cent in H1 2022-23.
Job creation single most important pressure point: Former RBI Guv Raghuram Rajan
Rajan stressed the imperative of job creation across all levels of development, articulating that an augmented private sector job market could alleviate pressure on reservations. He cautioned against the trend of states reserving jobs for their residents, attributing it to the shortfall in job provision.
RBI gets serious about connected lending, a concern that has been raised earlier as well
India restricts corporate houses from owning banks, raising questions about their absence despite financial capabilities. Allowing them could foster 'connected lending,' granting preferential loans to connected parties. A 2020 RBI proposal advocated their entry, criticism centered on consolidating economic and political power.
Raghuram Rajan says India's current growth isn't enough to create ample jobs
Former Reserve Bank of India Governor Raghuram Rajan said India's economy needs to grow at over 8% to meet job demands for its vast population. While the current growth rate of 6%-6.5% is commendable, Rajan flagged the urgency of faster expansion to address the employment needs of the country's youth.
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