Former RBI -Governor C Rangarajan said Donald Trump's policy is also "suicide" for America

The US tariff policy has created a stir worldwide and its impact on the world industry is clearly visible. Meanwhile, former RBI Governor C. Rangarajan says that President Trump’s economic policy not only affects world trade but can also be suicide for the US. Rangarajan addressed the 15th convocation of the ‘ICFAI Foundation for Higher Education’ on Friday, saying that some Trump policy stopped the global trade trends. Without calling ‘Brics’, he said that the rise of different groups with free trade is inevitable, but the final goal must be a world where trade is more open. He hoped that US policymakers would work wisely and change suicide policies. Trump’s policy is fatal to the US. He said that India was most affected by this situation. The development of India is uneven, as Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, Gujarat and Western Bengals contribute 52 percent to national income, while the remaining states contribute 48 percent. Rangarajan gave an example that Goa’s per capita revenue is ten times more than Bihar. Former RBI Governor said the per capita revenue should be recorded to US $ 18,000 to make India a developed nation. For this, major states will have to achieve a relatively high growth rate. For example, 8.71 percent for Tamil Nadu, 9.63 percent for Gujarat, 8.77 percent for Karnataka and 9.53 percent for Maharashtra is expected. At the same time, Bihar and Uttar Pradesh will require a growth rate of 17.4 percent and 14.5 percent respectively. India is most affected. He said that the concept of developed India is not just a statistical purpose, but a journey of broader changes, which requires collective efforts of both government and society. For this, focus should be paid on five focus areas – a two percent increase in investment rates, the adoption of new technologies, the promotion of labor -dominated areas, the expansion of social infrastructure such as health and education and strengthening the quality and efficiency of higher education.