V-shaped recovery nothing to crow about: Former RBI Governor Raghuram Rajan

In an exclusive interview with India Today, former RBI Governor Raghuram Rajan said the V-shaped economic recovery is not anything to crow about and added that India needs to do a lot of things to get the growth it truly deserves.

When asked whether he sees a V-shape recovery in India, he said, "V-shape is not anything to crow about. Create a bad enough downturn and the economic recovery will always be V-shaped. Have we come out and are we going to reach back our trend level of growth? To some extent, we are back to where we were in 2019. A large number of countries are there; we're not the only country that's back. We also were a reasonably fast-growing country. We haven't done that in the last two years. So effectively, we have just made up the ground we lost in going down but we haven't made up the ground that we lost because we were already growing at a fast pace. We have to do a lot of things to get the growth that India truly deserves."