Demonetisation and GST affect the growth of Indian Economy: Raghuram Rajan

Raghuram Rajan

Former RBI Governor Raghuram Rajan said that the demonetization and the implementation of GST by the Modi government had affected the Indian economic growth. He was addressing at the University of California in Berkley on Friday.

Rajan said that the Indian economy was growing at a faster rate from 2012 to 2016. Due to the demonetization and the implementation of Goods and services Tax (GST) the grow rate slowed. He added that the current growth rate of seven percent is not enough to meet India’s needs.

The demonetization has marked its second anniversary on 8th November. The opposition parties have been attacking the Modi government over the matter.

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.