Ever wondered why the former Raghuram rajan, despite of being so outspoken, never joined the microblogging site, Twitter? Well, the answer has been revealed.
On being aksed upon his presence on Twitter, the celebrated economist jokingly said that "doesn't have the ability to think quickly and respond in 20-30 seconds in 140 characters".
Raghuram Rajan went to Kochi to deliver a keynote address at #Future, a conference organised by Kerala government.
Rajan elobarating his reply clarified that he doesn't have time.
"I don't have time. My sense is that in many of these things once you start engaging, you have to be consistent and I certainly can't because I don't have the ability to think quickly and respond in you know 20-30 seconds in 140 characters," he said.
Earlier this week, former RBI Governor Raghuram Rajan said reforms are likely to be put on the shelf till the next general elections but expressed hope that the country will move up to a "higher plane of growth" thereafter.
Rajan also raised concerns about employment generation, saying India's 7.5 per cent growth will not be able create good jobs for the 12 million people coming into the labour market every year. The next general elections are scheduled in early 2019. "I think to some extent, reforms will be put on the shelf till the next election. But post-election, if we can accelerate this pace of reform, there's no reason why in two or three years we couldn't move up to a higher plane of growth," he said in an interview to CNBC.
Rajan, who is currently a professor of finance at the University of Chicago Booth School of Business, further said India can move up from the 7.5 per cent growth, which is not enough to employ the 12 million people coming to the labour force every year in good jobs. "We can move up to maybe 10 per cent, provide some kind of source of demand for the work. We can do that but I think we need to work on it," he observed. Rajan noted that reforms are happening in India but more slowly than one would wish.
"That's potentially the cost of getting political agreement," he said. Noting that the world has become less receptive to exports, Rajan said," So if India becomes a manufacturing giant overnight, who's going to buy its stuff? So, India needs to think about its pathway of growth, it will be different from China's."
