RBI Governor: Ethnic intolerance not conducive for economic growth

October 31, 2015 13:08

Reserve Bank of India Governor Raghuram Rajan joined the debate on intolerance and expressed sharply on the ethnic tension prevailing in the country, and has said that an open spirit of inquiry is critical for the economic progress in the country.

Speaking at a function in Delhi, Rajan said that excessive political correctness stifles progress as much. He added if a government wants to attain economic growth, it is better to improve environment for ideas through tolerance and mutual respect.

He spoke of India's tradition of debate and an open spirit of enquiry and added that intolerance can take offense out of debate.

Moody's Analytics, an arm of global ratings agency Moody's, said on Friday that Prime Minister Narendra Modi must keep "his party members in check" from making controversial statements "or risk losing domestic and global credibility".

« Back to LIVE

TOP STORIES

Phase 5: Rae Bareli, Amethi go to polls on Monday

Besides Defence Minister Singh (Lucknow), Minister of Women and Child Development Irani (Amethi), those in the fray are Minister of State for Housing and Urban Affairs Kaushal Kishor (Mohanlalganj) and Minister of State of Consumer...

Delhi sizzles at 44.4 degrees C, 'red alert' for heatwave

The India meteorological department predicted mainly clear skies with heatwave conditions in many parts of Delhi and severe heat wave conditions in other areas.

Day after Adhir snub, Kharge's posters defaced outside Bengal Cong HQ

Unidentified persons also wrote 'agent of Trinamool Congress' on Kharge's posters and hoardings.

Dayal's Redemption: From Rinku's sixes to stopping Dhoni

A beaming father Chandrapal, said that the son told his mom that he was confident of stopping the legendary MSD on his tracks.

In Pictures - Prabhsimran, Jitesh steer PBKS to imposing total vs SRH

Images from the IPL match between Punjab Kings and Sunrisers Hyderabad, at the Rajiv Gandhi stadium, Hyderabad, on Sunday.