Former RBI Governor Raghuram Rajan addressed students of Harvard Kennedy School on Wednesday (Express Photo/Nirmal Harindran/File) Former RBI Governor Raghuram Rajan addressed students of Harvard Kennedy School on Wednesday (Express Photo/Nirmal Harindran/File)Former Reserve Bank of India Governor Raghuram Rajan on Wednesday said India was poised to chart a higher growth path and stay there provided it does not go down the autocratic path along the way. Once catch-up growth happens, which may be 10 years, and once it is closer to the frontier, it will stay there for long given its liberal market democracy, Rajan said, addressing Harvard Kennedy School students. What India has not done is this… And the difference is property rights and democracy. China can go ahead and acquire land despite protests, but in India, you can’t do it. The next phase of growth, once catch-up growth happens, which may be 10 years, and once it gets closer to the frontiers, India will stay there longer because liberal market democracy is the strongest system for growth,” he said.

Source: Indian Express April 12, 2018 05:45 UTC