Alternative growth path

Raghuram Rajan's idea must be debated

As India recovers from the disruption caused by the pandemic, steering the economy to a higher sustainable growth path will be the biggest challenge. The fact that the Indian economy was slowing rapidly even before the pandemic, and the possibility of returning to similar levels as quarterly projections for the next fiscal year suggest, will not help. It is, thus, critical for policymakers to assess if India needs to do something different to attain higher sustainable growth in the medium term. The pandemic has affected jobs, particularly in the unorganised sector, which may not come back in a hurry. India’s