Friday, April 08, 2016

Raghuram Rajan's atypical optimism

RBI Governor, Raghuram Rajan, is known for his balanced views and measured statements. It is surprising, therefore, that he has now waxed eloquent on India's prospects.

"India could be on the verge of a revolution; everything is in place for a leap in production, whether it is in manufacturing or services." "Our young generation is willing to take the best of the world along with it."

It is worth remembering Alan Greenspan's words ("I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.")

Have we understood Rajan clearly? We need not be surprised if he comes up with a clarification.

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