India will soon return to high economic growth, says Raghuram Rajan

The Reserve Bank of India (RBI) Governor Raghuram Rajan on Friday said that India will soon return to the high economic growth like in the past.

In an interview with the NDTV Profit, Rajan admitted that the year was gloomy because of the surge in gold imports and widening of current account deficit (CAD), still, he expressed his faith in nation getting back to the path of growth very soon.

The Indian economy saw its worst growth in the current fiscal in a decade, even six months after Narendra Modi took charge of the country in May.

While data indicate that project clearances have become quicker, no new investments are coming through, given the high debt levels of companies.

Source: The Economic Times