India's 8.5% economic growth rate has some 'fluff' in it, according to former Reserve Bank of Governor Raghuram Rajan.
There is some 'fluff' in India 's 8.5% economic growth rate, according to former Reserve Bank of India Governor Raghuram Rajan.
One of problems with GDP data is that it mostly reflects India's large firms while smaller companies have only seen "tepid growth," Rajan said.There is some 'fluff' in India's economic growth rate, according to former Reserve Bank of India Governor Raghuram Rajan. "The 8.5% has a little bit of fluff in it," said Rajan, currently a professor of finance at the University of Chicago Booth School of Business.
"When we eventually readjust the GDP numbers, with the fact that small firms haven't grown that much, my guess is — we'll come closer to the 6-6.5%," he said.that India was set to grow at an annual rate of 8%, as the government focuses on higher capital expenditure, which has increased significantly over the last few years.that the country is on track to becoming to be the world's third-largest economy by 2027, with a GDP of $5 trillion.
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