Raghuram Rajan thinks India making a big mistake believing ‘hype’ about its growth

India is making a big mistake believing the hype around its strong economic growth since there are significant structural problems that need to be fixed for the country to meet its potential, former central bank Governor Raghuram Rajan said...

The biggest challenge a new government must grapple with after elections is improving the education and skills of the workforce, Rajan said in an interview..

Without fixing that, India will struggle to reap the benefits of its young population, he said, in a country where more than half of the 1.4 billion population are below the age of 30...

Dismissing Prime Minister Narendra Modis ambition to make India a developed economy by 2047, Rajan said it was nonsense to talk of that goal if so many of your kids dont have a high school education and drop-out rates are high...

India needs to firstly make the workforce more employable, and, secondly, create jobs for the workforce it has, he said.. Rajan cited studies showing a drop in the learning ability of Indian school children to pre-2012 levels after the pandemic, and that only 20.5% of grade three students could read a grade two text..

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