In March, India announced a list of battery makers that would receive a coveted state subsidy. Locally manufactured cells for electric vehicles would trigger almost $6 billion in investments, build a supply chain at home, cut $30 billion in energy imports and be a “major boost” to Prime Minister Narendra Modi’s Make in India project, … Read more
The government’s all-out push to turn India into a manufacturing powerhouse started sounding credible after the world began turning away from China for geopolitical reasons and looking at options to shift supply chains. Just when it seemed it’s India’s moment to replace China as the world’s factory, a major debate has erupted whether India would … Read more
“I think we certainly need to understand the technology, we need to proceed cautiously on building out a rupee CBDC. Also, I think urgency to do it because there is a consumer demand at this point is simply not there,” says Raghuram Rajan, Former RBI Governor & Prof, University of Chicago Booth School. Mythili Bhusnurmath: … Read more
“Well the Chinese economy will probably recover towards the second half of next year simply because the shocks it has been subject to have been pretty significant this year,” says Raghuram Rajan, Former RBI Governor & Prof, University of Chicago Booth School. Mythili Bhusnurmath: Do you see the IMF’s forecast of one-third of the global … Read more
Former RBI governor Raghuram Rajan on Monday said the central bank will have to raise interest rates to tame inflation and the hikes need not be considered by politicians and bureaucrats as some “anti-national” activity. Known for his frank views, Rajan also said it was important to remember that the “war against inflation” is never … Read more
India urgently needs to move away from incremental budgetary policy moves and stop thinking only about areas like manufacturing or agriculture, according to former Reserve Bank of India governor Raghuram Rajan. in an interview to ET Now, Rajan explained why one need neither be overly optimistic nor overly pessimistic about India at the moment. Aside … Read more
Eminent economist and former RBI governor Raghuram Rajan has said cryptocurrencies are a speculative asset right now, and will remain so until there are developments, and regulations emerge. “Right now, cryptocurrencies are speculative assets. Will it stay that way? No. There will be developments. Some central banks are thinking of introducing their own cryptocurrency, backed … Read more
“India is too big to be managed from the Centre,” said Raghuram Rajan while speaking about the need for decentralisation while in conversation with Tamil Nadu’s Finance Minister P Thiaga Rajan on a virtual platform on Friday. While he agreed that there was a need for a Central government, he said that more power needs … Read more
One of the leading global critics of the Federal Reserve’s 2013 “taper tantrum” episode is now worried that the central bank could fall behind the curve as it gradually removes Covid-era monetary stimulus. “The Fed thinks it has time” to slow-walk the tightening process, especially given longer-term disinflationary forces like aging, automation and globalization, Raghuram … Read more
The onus of promoting sustainable investments should lie with governments and not central banks, which already have significant other policy commitments, said Raghuram Rajan, former Reserve Bank of India governor. Central banks should steer clear of politically-driven unlegislated areas such as “green” investments, as their mandates of providing financial and monetary stability are already quite … Read more