Let India grow at 8-10% for 10 years before chest-thumping: Raghuram Rajan

[duhastmish]

Last year we grew at 7.1%+. So what is the point in saying that chest thumping at 8%? We have grown much more than that in pst and we shall in future. Let the third quarter result come. We have made very major economic decision in last three years and our economy is folding in these new direction. Once the economy digest and makes itself conversant to new changes, it will start producing the result. GST effect is magnificent. we have collected more revenue in first month itself. Let rajan cry. Look at the INR vs USD after rajan left. It is 68+ to 63.80 and growing very fast.



Rajan must know that we are a 9+ TR USD economy in PPP. So we are a big economy.

Let me tell all of you that Indian economy has grown 8% since demonetization just because of rise in Rupee value. It is 63.78 right now against 68.85 in November. Now I will tell Mr. rajan that since you are talking in terms of Nominal value, India has risen more than 8% in 9 months just be appreciation in currency even if I Ignore 7% economic growth. If i combine both, India has risen over 15+ in nominal term in last 3 quarter. Now defend yourself Mr. Rajan.

There was no rise in rupee but fall in dollar. Read the economy.

Why Euro Australia dollar yuAn dinar pound still at same price but up.

New parameter for GDP growth mess things. If these rules were followed we had 16% GDP growth in 2010 2011.

 

[SarthakGanguly]

Guys like him will find some other excuse to be critical even if India grows faster than his expectation.

He was not given extention and he is butt hurt

Expect him to make more noise in the next 2 years. A book may also come, written by him. Then he will again go silent for a few years.

 

[pothead]

Anyone else finding this Rajan guy incredibly condescending?
Under him during UPA, the banks NPA's grew. Was he sleeping or was he hand in glove?

 

[mirage]

R.R is quite rational but he is an oddball in today's sociopolitical climate in India, so he could only hold his position for one term. Of course he is "mentally not fully Indian" .

that dumbhead was sleeping when the NPA's of banks were rising like hell . it is hilarious that he is barking about the scenario right now . he failed to address the NPA problem banks face now . if banks are unhealthy , the economy and industries cannot grow with high growth rate numbers . that fuddu couldn't even control the inflation during his tenure . trust me , i will spit on his face if he come across as he was good for nothing finance minister promoted by khangress

 

[GodToons]

Oh, this US green card holder wants to come back to India to sell his book. No one will purchase his book in US, he is just another economist, not even in Sen class who has backing of Rothschild.

Poor timing RRR, you were

1. CEA b/w 2004-2013 when UPA gave loans of industrialists
2. Increased loan rates to kill SSE and MSE
3. Created real estate bubbles by not clamping on dubious finance deals as RBi governor
4. Tried to stop ED probe against PC

 

[tw00tw00]

I see a lot of touched nerves here.

 

[MULUBJA]

Incredibly complacent with unmistakably Indian characteristics. Just like "132.8 Exaflops super-supercomputer by 2017".

I have put forward calculation. Do you have any figures to show or as usual you satisfy yourself by abusing someone?

 

[ito]

Rajan was doing a good job. He lost his job because Modi knew that Rajan will not support demonetization.

 

[Dungeness]

hey, 50 cent boy. I have put forward calculation. Do you have any figures to show or as usual you satisfy yourself by abusing someone?

@Joe Shearer now here is one. He is not first time offender.

 

[Joe Shearer]

hey, 50 cent boy. I have put forward calculation. Do you have any figures to show or as usual you satisfy yourself by abusing someone?

The forum bars this kind of abuse of an entire nationality. Please edit your post; it reflects badly on all of us. Thanks in advance.

@Dungeness

 

[MULUBJA]

There was no rise in rupee but fall in dollar. Read the economy.

Why Euro Australia dollar yuAn dinar pound still at same price but up.

New parameter for GDP growth mess things. If these rules were followed we had 16% GDP growth in 2010 2011.

GDP is measured in Nominal value in USD and in PPP. Now when rajan say that it is 2.5 TR USD and let it rise by 8 to 10% , I simply say that it has risen 15% in less than an year. Now what is wrong with It? Now start measuring GDP in AUD and Yuan if you want.

 

[Joe Shearer]

R.R is quite rational but he is an oddball in today's sociopolitical climate in India, so he could only hold his position for one term. Of course he is "mentally not fully Indian" .

That was said, unfortunately, by someone who is mentally not fully human.

The forum bars this kind of abuse of an entire nationality. Please edit your post; it reflects badly on all of us. Thanks in advance.

@Dungeness

@MULUBJA

You might have missed the earlier reference.

 

[Gurjeet Walia]

http://economictimes.indiatimes.com...mping-raghuram-rajan/articleshow/60424152.cms

Let India grow at 8-10% for 10 years before chest-thumping: Raghuram Rajan
With India trailing China on economic growth post demonetisation, former RBI governor Raghuram Rajan has said the government should not have done "chest-thumping" on being the fastest-growing economy without achieving very strong GDP expansion for 10 years.

In an interview , he said India can lecture the world on things such as culture and history, but on growth, it should do that only after achieving 8-10 per cent rate for 10 years.

Rajan, the only central bank governor in two decades who did not get a second term, courted controversy when in April last year he had called rising India a one-eyed king in the land of blind. BJP Rajya Sabha member Subramanian Swamy had then called for his sacking, saying he was "mentally not fully Indian".

Refusing to comment on Swamy's remarks, Rajan said his comment was taken out of context.

"Not that I was forecasting anything, I was merely saying we have to be a little cautious about being too bullish about ourselves. That remark was made in April 2016, every quarter since then, our growth has fallen. So, I would argue in hindsight, and I didn't have any reason to believe that would be the case, but caution was warranted," he maintained.

India's GDP growth slowed to 5.7 per cent in April-June this year, down from 6.1 per cent in preceding three months. China clocked 6.5 per cent growth rate in both the quarters.

He said the pace of expansion needs to pick up to 8 per cent or 9 per cent with higher private investment and revival in exports.

"There are so many other things that we can lecture the rest of the world -- cultural achievements, historical achievements etc, but on growth, let us lecture once we have achieved another 10 years of 8-10 per cent," he advised.

An 8-10 per cent growth for 10 years would be an extraordinary achievement, but that is the growth rate needed for 10 years to reach the level of middle income, he stressed.

"We have done ever since the 1990s on and off 6-7-8 per cent. We need a couple of percentages more on that for 10 years and then, we will be a much bigger economy," he said. "We should not go chest-thumping. I would prefer that we establish 10 years of very strong growth of 8-10 per cent."

Rajan, who had predicted the 2008 global financial crisis, said Indian economy still is very small at USD 2.5 trillion, but "we feel we are a big country."

China is five times India's size.

Stating that India and China are not paired anymore, he said in order to be paired, China has to slow down and India has to grow at a rapid pace for the next 10 years.

"Then, people will see us in a more serious light," said Rajan, who was governor of the central bank from September 4, 2013, to September 4, 2016.

He still upset because he didn't get 2nd term.

 

[MULUBJA]

Incredibly complacent with unmistakably Indian characteristics. Just like "132.8 Exaflops super-supercomputer by 2017".

Edited.

Now show me where is the insult of whole nationality?

I did not say anything about chinese but he said about Indian nationality and you kept quite. A great piece moderation.

 

[Joe Shearer]

@Joe Shearer now here is one. He is not first time offender.

As you can see, the member voluntarily edited his post. If you re-word your reference to avoid clubbing together an entire country ("....unmistakably Indian characteristics"), we can get back to a rational discussion. Regards,