Daily O

Why India's growth story is slowing down

Former RBI governor Raghuram Rajan has stopped mincing words ever since he left his Mumbai office. Speaking in Hong Kong recently, he said that Indian GDP needs to grow at 10 per cent to be able to produce enough jobs for the 12 million people joining its workforce every year. An 8 per cent GDP growth can be achieved "without doing anything extraordinary" but is not enough, Rajan said.

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It's hard to disagree with the fact that India is not growing fast enough, despite having the world's largest young and productive population and a culture that innately values

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