Raghuram Rajan Praises Infrastructure Efforts, Highlights Job Market Needs

Former RBI Governor Raghuram Rajan acknowledged the Modi government's infrastructure progress and expressed hope for job market boosts in the upcoming Budget. He discussed the US dollar's global stance and concerns over emerging markets' currency challenges, ruling out a BRICS common currency due to geopolitical issues.

Former RBI Governor Raghuram Rajan praised the Modi administration's strides in infrastructure development, urging similar efforts to invigorate the job market as India approaches its next Union Budget.

Speaking at the World Economic Forum, Rajan attributed the rupee's depreciation mostly to a strengthened US dollar rather than domestic influences, advising emerging markets to reconsider interventions.

He dismissed the immediate potential for a BRICS common currency, citing unresolved geopolitical tensions, and raised concerns over non-central bank digital currencies being used as financial weapons.

(With inputs from agencies.)