Raghuram Rajan has no good words for what India has done in past 5 years, says ace investor Rakesh Jhunjhunwala
Ace investor Rakesh Jhunjhunwala cited the example of the ongoing farmers’ stir to explain how difficult it is to introduce reforms in India and claimed that Raghuram Rajan had earlier advocated for the same farm laws that he is now criticising.
January 24, 2021 / 12:10 PM IST
Ace investor Rakesh Jhunjhunwala, also known as the Big Bull of Dalal Street, has dubbed Raghuram Rajan, the former Governor of the Reserve Bank of India (RBI), a pessimist who refuses to see any good in what the country has done in the past five years.
In an interview with The Print, the billionaire investor criticised Raghuram Rajan for not supporting the newly introduced agriculture reforms that the farmers have been protesting.
The ace investor had cited the example of the ongoing farmers’ stir to explain how difficult it is to introduce reforms in India and claimed that Raghuram Rajan had earlier advocated for the same farm laws that he is now criticising.
Jhunjhunwala then called out the former RBI governor for criticising the Bharatiya Janata Party (BJP) government at the Centre and said: “Does Raghuram Rajan have one good word for what India has done in the last five years? I want to take him up. He keeps criticising the government… Rajan only sees darkness and no light."
The billionaire then moved on to comment on the Indian economy and the stock market and predicted that the country is in a bull run, with the biggest bull run awaiting the nation. He also predicted that India would see double-digit growth in the next three to four years. Jhunjhunwala said even though India will grow at -7 percent in 2021, in 2022 “it will go at 10 percent positive” and in the next 25 years, it will surpass China."
Speaking about his expectation from the Union Budget
2021, Jhunjhunwala said he expects “there will be no taxes, a substantial increase in expenditure and a 6.5 to 7 per cent fiscal deficit."