Former RBI governor attacks Modi govt. at a lecture in US

Mumbai: Making a scathing attack at Narendra Modi government, former Reserve Bank of India governor Raghuram Rajan said its majoritarianism and authoritarianism were taking the country down a “dark and uncertain path”.
As reported by the Times of India, the former RBI head also accused the government of weakening institutions.
Making a dark prognosis for the economy, Raghuram Rajan told during OP Jindal Lecture at Brown University in the US on October 9, that the government’s economic performance is not sustainable. He expressed fear that there is a risk of the country going the Latin America way in terms of populist policies.
Rajan held “factors such as ill-conceived demonetisation and poorly executed GST” responsible for the current slowdown.
Blaming centralisation for the Modi government’s inability to progress on the economic front, Rajan said “Modi did not do better in the economy during the first term because the government is extremely centralised which puts a lot of pressure on the leadership, which does not have a consistent, articulated vision on how to achieve growth.”