Raghuram Rajan says difficult year ahead for Indian economy

SAWAI MADHOPUR: Former governor of the RBI Raghuram Rajan, who joined Rahul Gandhi’s Bharat Jodo Yatra on Wednesday, said the next year will be difficult for the Indian economy as also for the rest of the world and the country failed to “generate reforms” needed for growth. He said policies should be formulated keeping in mind the lower middle class which suffered the most due to the pandemic. Rajan also pitched for creating a conducive environment for small and medium-scale industries and giving a push to a green revolution in the field of sustainable energy.
In a conversation with Rahul Gandhi, Rajan suggested that the next revolution in the country can be in the service sector. Gandhi, in his candid interaction that was posted on his social media handle, asked Rajan about his views on the current economic conditions in India, the US and other countries, challenges before small industries, and economic inequality, among others.
Rajan said that the income of the upper middle-class increased because they could work from home during the pandemic but those who worked in factories lost their earnings.