Raghuram Rajan, Ex-Governor of RBI met Rahul Gandhi during Bharat Jodo Yatra on Wednesday and discussed the governing factors that will possibly downgrade the economy worldwide and framed potential growth in the economy with crypto and the stock market. Although the pandemic has gone on for a long time, the market still doesn’t seem to speed up with satisfactory results.
Crypto, Stocks, Next-Gen Revolutions, and unlocking India's full potential!
A discussion with Raghuram Rajan on ideas to make India a true global super-power.https://t.co/kRYglwAKmN pic.twitter.com/BnQbT1Vggv
— Rahul Gandhi (@RahulGandhi) December 14, 2022
The Indian market is going to see a cold session of economic growth next year due to the increasing interest rates. The market will slow down on a worldwide scale affecting big firms as well as SMBs. Raghuram explains the increase in interest rates and the declining graph of export will majorly impact the economy of the country. The country is going to see a growth rate of just 5% in the next year.
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Rahul also discussed the rising threats to the economy in our country and in other countries like the U.S. and China. He further discussed the ongoing trend of crypto and the stock market. Rahul and Rajan also briefly discussed the challenges faced by small businesses. Economic inequality was also included as a subject of debate during the session.
Deccan Herald
Rajan and Rahul Discuss Over Crypto Potential
Rajan conveyed the root cause of the negative impact on the economy. He added Indian inflation issue is due to the commodity and vegetable inflation problem. The decreasing export and increasing interest rates are inversely proportional variables and would put a significant negative impact on the Indian economy.
The partial world war caused due to the tension between Russia and Ukraine has gradually affected the economy across the world.
According to Organization foorts recommend a slowdown in the crypto market which would cause the crypto crash r Economic Cooperation and Development (OECD), the repcausing even greater economic inflexibility. Recently, FTX was sued for using clients’ funds and went bankrupt due to huge a scandal by its ex-CEO Sam Bankman-Fried.
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Even after such drastic alterations in the economy, there are still some good factors that have uplifted the economy to some extent. The stock market and crypto have worked as a jack to save the economy from drowning. Crypto propelled the economy to a significant mark as people started learning and investing in this platform. Moreover, foreign exchange also increased considering crypto as an international currency.
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The stock market has also played a vital role to boost the economy which was backed up by large business firms like TATA, Adani Group, and various others.