Need structural reforms, investment in human capital for growth: Raghuram Rajan

Former RBI governor Raghuram Rajan says India is doing fine on the monetary side but needs to undertake structural reforms with investment in human capital. In the latest book, Breaking the Mould — Reimagining India's Economic Future, co-authored with Rohit Lamba, Rajan has argued the need to invest in the human capital of the country. "The RBI has an inflation target and they are doing what needs to be done and that takes care of itself. On the fiscal side, we have a large fiscal deficit when you look at the consolidated state and the central deficit," he says, adding the key reform that we need to do is to improve the quality of the human capital.