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