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Growth, deficit problems not structural: RBI chief Rajan

Says India does not need to become a manufacturing giant overnight to fix its current problems

Reuters  |  Singapore 

India's slowing economy and its massive current account and fiscal deficits are not structural problems and can be fixed with modest reforms, newly appointed central bank Governor Raghuram Rajan said on Wednesday. Rajan acknowledged the economy will expand at a pace that will be its slowest in a decade, with annual growth this year likely to be between 5 and 5.5%. In commentary published on the Project Syndicate website, he also drew an analogy between the current bearishness on the country, whose currency has barely recovered from record lows last month, to the fickle ...

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First Published: Thu, September 12 2013. 08:18 IST
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