Former RBI governor Raghuram Rajan has attributed the sharp uptick in GDP in the first half of the current fiscal to infrastructure spending and good performance by large economies of the world but added India has to do a lot of catching up and the USD 5 trillion economy goal for 2025 is nearly impossible.
Rajan further said that even as India's growth rate is strong, private investment and private consumption have not picked up.
"So if you look at why we have done so well this year, one of the reasons we are doing so well is also because the world is doing well.
Copyright © 2017 Indian Grapevine a unit of Integrated Media Enterprises
