Short-term as well as medium-term prospects (for Indian economy) continue to be grim, says D Subbarao
Echoing a similar view Raghuram Rajan, Subbarao's successor at the RBI, said one positive factor for the Indian economy is that the agriculture sector is doing well
Montek Singh, D Subbarao were participating in a webinar hosted by Bhavan's SP Jain Institute of Management Research
Subbarao pointed out that the nominal GDP growth has fallen to as low as 6.1%
The career bureaucrat-turned-central banker said he would be "ok" if a sovereign bond issue in foreign currency is done once just to test the waters
He suggested the traditional banks should look into other avenues to compete
Moreover, real estate, which has been a safe haven for black money, will experience a squeeze, said Subbarao
D Subbarao, RBI governor during the UPA govt, said there was pressure from the government to cut lending rates but he did not succumb to it
Interest rates are not the binding constraint for investment, says D Subbarao to Govindraj Ethiraj