Raghuram Rajan never said India’s economy will become like Sri Lanka
It is being claimed that Rajan has said that people should save their money because India's economy will become like Sri Lanka.
By Md Mahfooz Alam Published on 10 March 2023 4:48 AM GMT
(Screengrab source: Facebook)
Hyderabad: A statement attributed to the former Governor of the Reserve Bank of India, Raghuram Rajan, has gone viral on social media. It is being claimed that Rajan has said that people should save their money because India's economy will become like Sri Lanka.
(Screengrab source: Facebook)
Fact Check
NewsMeter found that the former RBI governor never made such a statement.
We ran a keyword search and came across The Indian Express article from 1 August 2022, titled “Raghuram Rajan lauds RBI, says India not facing economic problems like Sri Lanka, Pakistan.”
It quoted Rajan saying to the news agency ANI, “We have sufficient foreign exchange reserves. The RBI has done a good job of increasing the reserves. We are not having problems like Sri Lanka and Pakistan. Our foreign debts are also less.”
We also came across a video of Rajan speaking to ANI titled, “RBI has done a good job in increasing forex reserves: Raghuram Rajan.” At around 7.2 minutes, Rajan can be heard saying that India is not facing economic problems like Sri Lanka and Pakistan.
On 5 March, Rajan speaking to PTI said India is “dangerously close” to the Hindu rate of growth because of subdued private sector investment, high-interest rates, and slowing global growth. He also cautioned sequential slowdown in the quarterly growth was “worrying.”
Since we did not find any report of Mr. Rajan saying that India's economy will become like Sri Lanka's. Hence, we conclude that the claim is false.
