Raghuram Rajan says India has a long way to go to become a global growth engine. But Narendra Modi says it will be done in 5-10 years. Who is right about his prediction?
Raghuram Rajan says India has a long way to go to become a global growth engine. But Narendra Modi says it will be done in 5-10 years. Who is right about his prediction?. Do You sir has that kind of concern?, If yes then please get the solution right after this line:
Short Answer: Raghuram Rajan is an Economist, and Narendra Modi is a Populist.
Longer Answer: If Narendra Modi says that India will become a superpower he attracts more followers, and possibly wins more elections. He can not be held accountable for what he says in his public meetings. There is no legal binding. (Yes he has a moral obligation to talk only what he is seriously intends to achieve. But then political morality is a thing of past.)
On the contrary, Raghuram Rajan has a respect which he needs to protect. Or else he won't be left employable in future. Imagine him saying similar things, like these politicians speak – The whole world would come back and scrutinize his past statements, and if those statements don't make much sense, his future employment will be at stake.
Keep in mind, professionals earn their future employment by their correctness/performance in the past. Which is not the case with politicians, they remain in office because of their populist statements which may or may not make any sense.
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