India postpones 15 years due to economic recession: Rajan

London, Ta. October 24, 2019, Thursday

Former Reserve Bank Governor Raghuram Raj has described the economic downturn as a long event. Addressing a program organized by Gandhi on behalf of the National Students and Alumni Association at King's College, London, he said unemployment was a fact in many areas of India.

The former RBI governor emphasized the continuous improvement of land, labor force and logistics and said that we are not serious about this. He described the current government's tendency as centralized, autocratic, saying that the current government supports pluralism.

Rajan said the new model was necessary and said that we have to accept the new model. Who believes in our strength and our democracy. Let us strengthen our democracy.

Earlier, Raj had expressed concern over India's growing financial deficit. He blamed the decline in investment, expenditure and exports on the decline in GDP and the NBFC crisis.

Responding to Rajan's statement, Finance Minister Nirmala Sitharaman said that during his tenure, one of the leaders' phones was forced to give loans to government banks. As a result, the government banks were badly damaged.