Raghuram Rajan Questions India's GDP Growth Amid Job Creation Concerns

Former RBI Governor Raghuram Rajan has questioned India's GDP growth figures, asking why the economy is not generating enough jobs for young people despite reported rapid expansion. He expressed doubts about the authenticity of the growth numbers and noted concerns over low investment. Rajan highlighted discrepancies, asking why industrialists are reluctant to invest and why foreign direct investment is not arriving in larger amounts. He warned that failing to create sufficient jobs risks losing India's demographic dividend. Former Infosys CFO Mohandas Pai also criticized the government for stopping monthly job data releases, alleging a misleading narrative. Earlier, former Finance Secretary Subhash Chandra Garg questioned the 7.8% GDP figure, citing a revised comparison base. The Ministry of Statistics and Programme Implementation has since clarified India's GDP estimation methodology and revisions to first-quarter estimates.