New Delhi: During the World Economic Forum Summit in Davos, RBI Ex Governor Raghuram Rajan made a big comment on Finance Minister Nirmala Sitharaman. During a conversation with a private channel, Rajan said that Sitharaman is handling a very difficult task. Raghuram Rajan, who has been critical of most policies of the BJP-led central government, said of Finance Minister Nirmala Sitharaman that she is doing a tough job, so I cannot assess her work as good or bad. When a reporter asked Rajan in Davos, what rank would he give to Finance Minister Nirmala Sitharaman? So Rajan said I can’t rank him. Sitharaman is doing a tough job, so I can’t give any ranking.
- Raghuram Rajan comments on the performance of the country’s finance minister during the World Economic Forum Summit held in Davos, saying, “They are doing a tough job so I can’t judge their work”: Raghuram Rajan expressed concern over the global recession and the state of the middle class.
Raghuram Rajan said the real concern is the lower middle class. According to Rajan, the biggest concern in the economy is this class. There is lack of employment here. Big business is getting bigger. Big corporate houses have defaulted on loans even during the pandemic. Banks have also written off the bad loans of such corporate houses. Banks and big businesses are thriving in such a situation. But the problem is the lower middle class.
Many people in the lower middle class of the country also lost their jobs during Corona. Small and medium scale industries have not fared well. However, Rajan also said that small and medium enterprises are trying to recover. A growth rate of 7% this year is amazing. He said that in the beginning of the current financial year our growth was good, but in the following months the pace of growth slowed down a bit. We have come down to 5% which is a matter of concern. Looking at the fears of a global recession, it seems that it will go below five percent, which is a matter of concern and therefore we cannot be complacent with the current situation.