Raghuram Rajan said in WEF: GST Good step, Failure on Demonetisation - GST NEWS
Former RBI Governor Raghuram Rajan has described the Goods and Services Tax (GST) as a good step, while stating Failure on the Demonetisation, said that he did not know that there was a change in the behavior of the people. They have denied the possibility of becoming Finance Minister in future, becoming a Congress government. He called the central government of Narendra Modi as centralized. In the face of coalition government, he expressed the possibility that economic slowdown may slow him down.
Former RBI governor Raghuram Rajan, who came to attend the World Economic Forum (WEF) summit in Davos, Switzerland, former Governor Raghuram Rajan talked about various issues related to the country's economy by Rahul Kannwal, India Today-Aaj Tak. He dismissed such speculation that it is being said that he could be made the finance minister of the country when he formed a Congress government. Raghuram Rajan said that he talks to all party leaders. He has spoken to Congress President Rahul Gandhi, Union Minister Arun Jaitley and Andhra Pradesh Chief Minister Chandrababu Naidu. Rajan said that he is not a politician. Would like to make good policies in the future.
Two major steps taken by the Modi government on the economic front were Demonetisation and on GST, he said that GST is a positive move. While telling failure on the Demonetisation. The government claims that the use of cash has reduced. On this claim, Rajan said that he did not know there was a change in the behavior of the people of the Demonetisation.
Raghuram Rajan, on two major issues of agriculture and unemployment in the country, said that there was a need to solve the agricultural crisis and create more employment in the country. He said that jobs are being created but that is less. Explain that on the issue of agricultural crisis and employment generation, the Congress Party has consulted many experts including Raghuram Rajan. Rajan has made a detailed report in this regard, whose party will use it in his election manifesto.
Speaking on the problem of NPA, Raghuram Rajan said that it is not good for the country's banking system. NPA needs to be cleaned and re-capitalized with banking system. To fight the problem of NPA, Rajan said the important step taken by the central government to bring the banking code. On the privatization of the national banks, he said that it can be done. But the public sector should not be politicized. Rajan said that improvement in banking was hijacked by bureaucracy. We lost opportunities to improve banking. Now the need for next generation improvement is needed.
Former RBI governor said that the area of education and labour law in the country is a matter of concern. These should be the best ministers in the human resources ministry for improvement. Rajan said that private investment needs to be re-activated.
Regarding his tenure as RBI governor, Raghuram Rajan said that his experience was good. RBI's monetary policy board did a good job. Expressing concern over former governor Urjit Patel's resignation, he said that the need to protect the integrity of the institutions, along with protecting the autonomy of RBI operations.
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