RBI Governor, Raghuram G Rajan has said that the current account deficit (CAD), which was going to take the country to crisis, is likely to be under control for the time being. He added that there has definitely been a positive change in the sentiment. He was addressing the Indian Institute of Management Raipur (IIM-R).
The RIB Governor said that it is important to create sustainable growth. He likened India's economy with cricket team, saying, when they are going good, we turn them into Gods and when they are going bad, we throw stones at them. 'We first overlook the weaknesses and then when the growth declines, we conclude that the downfall was due to the weaknesses.
Lack of project implementation has held up growth and now that several projects have been cleared, he said. He expected a change in the sentiment of the country. The good monsoons will bring about growth in the agricultural sector which will decrease inflation, Rajan hoped.