New Delhi: RBI governor Raghuram Rajan on Wednesday described Prime Minister Narendra Modi as being “ahead of us” but said his visits abroad need to be backed up with “action on the ground” to reinforce the “good impression that is created”.
“I think it is changing positively,” he remarked on the world view of India in the aftermath of Modi’s foreign visits.He is a “very articulate spokesman for India”, he said.
The RBI governor, who has often been seen as not toeing the government line on the mo netary policy and other issues, acknowledged Prime Minister’s initiative to market India as an investment destination.”I think he (Modi) is ahead of us. So we have to come up to speed in a number of dimensions.For example, if the idea of India as a strong economy is sold outside and they come in, and hey don’t find the ease of do ng business, the permissions, etc people aren’t (happy),” Ra an told NDTV .
He said it is known abroad hat “there are some issues that hey have to deal with, but it should not be worse than their expectations”.
Rajan said the relationship between the RBI and the government has been strong, but added that he did not always agree with the finance minister’s point of view . “Otherwise, the public should start getting worried that the central bank is becoming too acquiescent. In a sense, we have to be a gatekeeper and sometimes say no!” he said.
Rajan also dismissed rumours that he is in the race for the job of managing director of the IMF. “It’s not the job that I have applied for. It’s not a job that I am running for,” he said when asked if he is going to be the next chief of IMF.
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