It is dangerous to target minorities to divert attention from job crisis: Raghuram Rajan

Raghuram Rajan Warns: Former Reserve Bank of India (RBI) governor Raghuram Rajan on Saturday expressed concern over the job crisis and said targeting minorities to divert attention from the crisis could be dangerous. Is. He warned against majoritarianism, saying that the Sri Lanka Crisis is an example of what happens when a country’s leaders target minorities to distract from the job crisis.

The former RBI governor said any attempt to convert minorities into “second citizens” would prove to be dangerous for the country and would divide the country. Along with this, in a tone of warning, he said that the country is not spending enough on education, which will not have good results.

Liberal democracy is necessary for the development of the country

Rajan said, “…what is happening with liberal democracy in this country and is it really necessary for Indian development?…It should be seen and we should strengthen it. Today, in some sections of India, the feeling that India can lag behind liberal democracy. But “I believe that the argument that liberal democracy is based on the old model of development of the country, which emphasizes on goods and capital, not on people and ideas,” he said. The country’s poor performance in terms of economic growth “points to the way we need to rethink”.

The former RBI governor said, “Our future lies in strengthening our liberal democracy and its institutions, not in weakening them, and this is really necessary for our development.” …. Strong for India. Even autocratic leadership will work, with some checks and balances and it looks like we are moving in that direction.

Making minorities second citizens would be a big mistake

Rajan said that “any attempt to make a large section of minorities second class citizens will divide the country and create internal dissatisfaction and will also create apprehension of foreign interference in the country”.

Referring to the ongoing crisis in Sri Lanka, he said the result was clearly visible when the country’s leaders continued to target minorities in an attempt to divert attention from their inability to generate jobs.

The reason for India’s slow growth rate is the job crisis

Rajan claimed that India’s slow growth rate is not just due to the Kovid-19 pandemic, but there was already a slowdown in the economy. “In fact for almost a decade, probably since the start of the global financial crisis, we haven’t been doing as well as we could have been,” he said. The main reason for this poor performance is the inability to create good jobs for our youth.

India is backward in female labor force

On protests against the Centre’s Agniveer Military Recruitment Scheme, Rajan said it shows how aspiring youth are for jobs. He said, “Just sometime back you have seen 1.25 crore applicants for 35,000 railway jobs. This is especially worrisome when there is a lack of jobs in India with so many women not working outside their homes. India’s female labor force participation is 20.3 percent in 2019, which is the lowest in the G-20.

Self-reliant India is a good idea

Prime minister Narendra Modi Talking about the ‘vision of development’ of the present government led by U.P. “Now, it emphasizes on better connectivity, better logistics, better roads and devotes more resources to it, somehow it (self-reliant vision) seems to be a continuation of the reforms of the last decades and that’s good,” he said. .”

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