RBI policy of not allowing crypto is a good approach: Amiyatosh Purnanandam

He said that the government needs to incentivize good long term risk taking by banks to push private investments

India needs to improve on reducing regional inequalities and invest in human capital in order to become a developed country by 2047, Amiyatosh Purnanandam, economist, University of Michigan, says in an interview with Ruchika Chitravanshi in New Delhi. He adds that the government needs to incentivise good long-term risk taking by banks to push private investment. Edited excerpts:

India wants to become a developed country by 2047. Are we on the right track? 

You need about 7-8 per cent growth rate for the next 25 years. And there's of course a whole lot of uncertainty. That will