The policy rate hikes that the RBI opted for would help in easing inflationary pressure, says the former RBI Governor
Panagariya also said that the Indian economy has grown fairly rapidly in the last 17 years, and it will grow at 7-8 per cent in the next couple of decades
"This is a silly comparison...suggestions of any parallels between India and Sri Lanka currently are laughable," Panagariya said
A leading BJP functionary, Arun Jaitley was the finance minister in the first Modi government. He was also a close associate of the prime minister. He died in 2019 at the age of 66.
Speaking at an event organised by Columbia Global Centre, he noted that the country's economy grew 7.4 per cent between 2014-15 to 2019-20