India needs to grow at 9 per cent to boost employment: Rajan

MUMBAI: Former Reserve Bank Governor Raghuram Rajan has said that the current picture of the country's economy is mixed, with some sectors of the country's economy performing well while others are struggling to recover.

Rejecting talk of recovery in the English alphabet V-shape, he said that the improvement after a sharp decline is always V-shaped and the real challenge for the country is to achieve a steady growth of 2-3 per cent.

India still has a long way to go to achieve the development it deserves. A growth rate of 2-3 per cent is required in the economy to increase employment.

In the second quarter of the current financial year, India's economic growth rate has been 7.50%. The growth rate has been in line with expectations, but this is due to the low levels in the last financial year. Rajan said that priority should be given to tackling the challenges on the employment front.

"India has succeeded in achieving the level of economic growth that preceded the Corona, but the goal is to regain the level of growth trends," he said in a media interview.