Former Reserve Bank of India (RBI) governor Raghuram Rajan, in collaboration with economist Rohit Lamba, is set to release a book titled “Breaking the Mould: Reimagining India’s Economic Future.” Scheduled for publication on December 7 by Penguin Random House India, the book delves into critical questions regarding India’s economic trajectory, exploring whether it is surging ahead as the world’s fifth-largest economy or facing challenges in generating employment opportunities.
Here’s what Rajan has to offer in his new book:
What is the main focus of Raghuram Rajan’s new book, “Breaking the Mould: Reimagining India’s Economic Future”?
The main focus of Raghuram Rajan’s new book is to provide insights and solutions to address India’s economic challenges and guide its future economic trajectory.
What does Raghuram Rajan believe is India’s current economic status?
Raghuram Rajan acknowledges that India is at a critical juncture. It recently became the world’s fifth-largest economy, but it also faces challenges in generating employment opportunities for its growing workforce.
What options does Rajan outline for India in his book?
In his book, Rajan outlines two main options for India. It can either follow outdated paths that other countries have taken, or chart a uniquely Indian way to address its economic challenges and opportunities.
What are some of the strategies proposed by Rajan and his co-author Rohit Lamba in the book?
The authors propose several strategies to accelerate India’s economic development, including: Investing in human capital: Enhancing education and skills training to prepare the workforce for emerging industries.
Manufacturing of new products: Encouraging innovation and diversifying manufacturing capabilities. Becoming a hub for ideas and creativity: Promoting innovation and entrepreneurship to drive economic growth.
Strengthening democratic institutions: Implementing governance reforms to support decentralised decision-making and strengthen democratic traditions.
How does the book address the economic challenges faced by millions of Indians?
The book aims to bring prosperity to the millions of Indians who are struggling to make ends meet by proposing strategies that create employment opportunities and foster economic growth.
How does the book view India’s role in the global economy?
The book underscores the importance of India’s role in the global economy and suggests that by following the proposed strategies, India can navigate the challenges and opportunities presented by the global economic landscape.
Who is the co-author of the book, and what is his background?
The co-author of the book is economist Rohit Lamba. He is an assistant professor of economics at Pennsylvania State University with a background in economics, having earned a PhD. from Princeton University.
