India's moment is now, but 'we must grab it': Ex RBI Guv Raghuram Rajan amid 7.4% GDP growth in the third quarter, full year at 6.5% | Mint

Amid the strong GDP figures of 7.4% in the fourth quarter of the FY25 and 6.5% growth for the full year, former RBI governor and well -known economist Raghuram Rajan said the moment for India is now, but “we must seize it”. He set out different steps for higher growth and asked for a decisive action, reports India Today. India’s current growth rate of 6.5% is “a very credible growth rate”, especially given the delayed government’s expenses as a result of the election cycle and some temporary statistical disorders. However, he emphasized that this is not the moment to become complacent, and mentions, “It may be India’s moment, but we must seize it.” To maintain stronger growth, India needs to increase investment, broaden its consumer base and create an environment where both domestic and foreign enterprises feel confident to make long -term obligations to the Indian economy, he said. “Momentum is now off the table,” Rajan specified that the biggest threat to momentum could increase global uncertainty. He specifically emphasized the possibility that Donald Trump is returning to office and the unpredictability of future tariff policies. “There’s a little slowdown on the cards. We came in with an extraordinary achievement this year. But with tariff uncertainty in the US and all over the world, the momentum is now off the table. If you are a business person today, where do you invest? ‘ India quoted Rajan today. Nevertheless, Rajan pointed out some emerging positive, including a favorable predictions of the monsoon that could increase the agricultural production and early signs of a long -awaited setback in rural demand, and further say, “It is a positive because it also reduces inequality”. India needs ‘8-9% growth to become vikksit Bharat by 2047’ According to India Today, Rajan mentioned: ‘I have shouted from the roofs forever-if we want to become a vikit desh by 2047, we need more like 8, 8.5 to 9%, because we are still a relatively weak nation.’ ‘The exchange rate fluctuations also have an effect – the Japanese yen has strengthened. We must take it as proof that we are on a good path, but not necessarily too much enthusiastic. We are much poorer than these countries, and what the average citizen is of interest, is how rich they are and are not to the total GDP, because we are the most populated country in the world. Rajan warned against the equation of the total GDP ranking with sincere economic progress.