IN­DIA IS LIKE ONE-EYED KING IN THE LAND OF BLIND: RBI GUV

Hindustan Times ST (Mumbai) - HT Navi Mumbai Live - - FRONT PAGE - HT Cor­re­spon­dent ht­metro@hin­dus­tan­times.com

WASH­ING­TON: RBI gov­er­nor Raghu­ram Ra­jan says the In­dian econ­omy, which has been de­scribed as “one bright spot” in a world of stag­nant growth, is like a one-eyed king in the land of the blind.

Much has hap­pened but Ra­jan told The Wall Street Jour­nal, “We’ve still to get to a place where we feel sat­is­fied. We have this say­ing, ‘in the land of the blind, the oneeyed man is king’.”

Ra­jan, who is in Wash­ing­ton with fi­nance min­is­ter Arun Jait­ley for the an­nual spring meet­ings of the World Bank group, was per­haps be­ing mod­est be­cause he didn’t have much to com­plain about.

“We feel things are turn­ing to the point where we could achieve what we be­lieve is our medium-run growth po­ten­tial. Be­cause things are fall­ing into place. In­vest­ment is start­ing to pick up strongly. We have a fair de­gree of macro-sta­bil­ity. Of course, not im­mune to ev­ery shock, but im­mune to a fair num­ber of shocks.”

That all sounded good. And the gov­er­nor went on to list the signs of things “fall­ing into place”.

CON­TIN­UED ON P10

Raghu­ram Ra­jan: Frank speak

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