Ex-RBI Governor Raghuram Rajan, at the launch of his new book “The Third Pillar” gave a series of interviews on a host of pertinent topics. We discuss the three most important ones from an economic stand point. The creation of jobs in India is clearly not enough and it is a serious issue. Many issues have been raised in connection with data pertaining to jobs in India and the government has withheld discomforting data related to jobs. Organisations such as the NSSO and EPFO’s credibility have been called into question. Another area of prime focus that Rajan brought to light is the mistrust he places on India’s growth rate or GDP data. He revealed that he doubted that India was really growing at 7% and highlighted various problems with GDP growth figures. On the issue of farm loan waivers, Rajan said that it is killing credit culture and that not all sections of society benefit from such waivers. He also went on to say that schemes such as minimum income guarantee schemes must be thought through properly before implementing them.
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