India needs to leverage performance of farm sector to push growth: Subbarao

Echoing a similar view Raghuram Rajan, Subbarao's successor at the RBI, said one positive factor for the Indian economy is that the agriculture sector is doing well

Former Reserve Bank Governor D Subbarao on Tuesday said the government needs to build on "some silver linings" in the farm sector, driven by the prospect of a favourable monsoon, to speed up the economic recovery.

"The rural economy is doing slightly better than the urban economy which is still grappling with COVID-19. Rural economy, which accounts for 65 per cent of the population and 25 per cent of GDP, is actually proven to be a buffer because of expanded MGNREGA spending...," he said at a webinar organised by economic think tank NCAER.

Subbarao further said that spendings under the