India in growth recession, Plans come from small set of personalities around PM: Raghuram Rajan
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Former RBI governor Raghuram Rajan while addressing the slowdown in India, said India is in the midst of a "growth recession" with signs of a deep malaise in the Indian economy that is being run through extreme centralisation of power in Prime Minister's Office and powerless ministers. Previous governments may have been untidy coalitions but they consistently took the path of further economic liberalisation, he added.