Indians’ belief in the country’s economic future has diminished in the recent years, with the COVID-19 pandemic taking a further toll on sentiment while pushing many middle-class citizens into poverty, former RBI governor Raghuram Rajan has said.
“In recent years we have gotten a little less confident. Our belief in economic future has diminished…the pandemic toll has further diminished our self-belief or ‘atma vishwas’ even further while pushing many in the middle-class into poverty,” he said.
Rajan further said the thrust of the economic programmes should be to create good jobs, while lamenting that states are increasingly reserving employment for locals, undermining the idea of India.
“As our economic performance is diminishing, our democratic credentials, our willingness to debate, to respect and tolerate differences is also taking a hit, not just at the Centre but in many states. You know community sentiment is very easily hurt,” he said.