‘Economic recovery still uneven,’ says RBI Governor Rajan

Stating Indian economic recovery is still uneven, RBI governor Raghuram Rajan has exuded optimism that the country will be ‘solidly’ in the 5 per cent growth bracket during the course of this fiscal and accelerate further in the next financial year. The RBI governor also said he is not ‘overly’ worried about any interest rate hike by the Federal Reserve, saying the country had enough foreign exchange reserves.

‘It is still an uneven (economic )recovery, so my guess is that this quarter may be a little weaker than the previous quarter but I think over the course of this year, we will be in the 5 per cent growth range and by next year we should be in the 6 per cent growth range,’ he said.