RBI's Rajan looks to regional and domestic demand
Raghuram Rajan calls for investment in research
India must look to regional and domestic demand for its growth, according to Reserve Bank of India (RBI) governor Raghuram Rajan, as the global economy shrinks and becomes "more inward-looking".
Delivering the Bharat Ram Memorial Lecture in New Delhi today, Rajan noted that when growth relies on domestic demand, it is "notoriously difficult to manage, and typically leads to excess".
"This is why we need to strengthen domestic macroeconomic institutions, so that we can foster sustainable and
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