Rangarajan

The country needs to grow at nine per cent per annum for the next five years in order to achieve the feat, former Reserve Bank Governor C Rangarajan said

Besides heading RBI and the Prime Minister's Advisory Council, Rangarajan was chairman of the National Statistical Commission, set up in 2000 to review the statistical system

Rangarajan said the adoption of inflation targeting by India has given rise to many doubts and concerns

He said the fall in growth rate was also accompanied by a fall in investment rate

He also said much of note ban controversy could have been avoided, had authorities been better prepared

However, allocation of Rs 25,000 crore for PSU banks is inadequate, former PMEAC said