Warning against being euphoric about India being the fastest-growing economy, RBI Governor Raghuram Rajan said the country has a long way to go before it claims to have arrived.
Stating that the per-capita income of Indians remains lowest among BRICS nations, Rajan said, the country needs to repeat its economic growth performance for 20 years.
He also said India’s global reputation holds great promise, but is seen as a country that has under-delivered and that it should implement the structural reforms.
Speaking at the convocation of National Institute of Bank Management in Pune, Mr Rajan said India is yet to achieve its potential growth though it is on the cusp of that and a substantial pick-up in growth can be achieved with pending reforms.
