'Internal Harmony for External Security': Rahul & Rajan on Bharat Jodo Yatra

Former RBI governor Raghuram Rajan joined Congress leader Rahul Gandhi on the Bharat Jodo Yatra in Rajasthan.

Rahul Gandhi and Raghuram Rajan on Bharat Jodo Yatra.

(Photo: PTI)

Former Reserve Bank of India governor Raghuram Rajan, on Wednesday, 14 December, held a conversation with Congress leader Rahul Gandhi on the sidelines of the Bharat Jodo Yatra in Rajasthan, where the two discussed the economy, India's business class, and the possible solutions to India's economic crisis.

What did they discuss? Speaking on the state of businesses, Rajan in the 1.11-minute long clip shared by Gandhi said that all businesses are good, but what affects the economy is monopoly.

"There has to be certainty in policy. One day you say you cannot export, another day you say you can," Rajan said.

"In India, one person is allowed to take a loan of Rs 2 lakh crore, but the smaller businessmen are ignored," Gandhi responded, adding that "there are two Indias' – one is of the poor and the farmers and another is of 10-15 rich businessmen."

"The ones who are in between these two classes, the middle class and the lower middle class people, they are the most affected. There is unemployment and lack of jobs. As a result, more people are taking loans, but the interest rates are also increasing," Rajan said.

Here's the full conversation:

Rajan on the padayatra: Rajan joined Gandhi on his Bharat Jodo Yatra in Rajasthan on Wednesday, leading to sharp reactions from the ruling Bharatiya Janata Party (BJP) leaders.

Congress party's official handle shared the picture of the two walking together with a caption saying, "The increasing number of people standing up to unite the country against hatred shows that we will be successful."

BJP leader Amit Malviya tweeted to say that Rajan joining the march was "not surprising."

"He fancies himself as the next Manmohan Singh. Just that his commentary on India’s economy should be discarded with disdain. It is coloured and opportunistic…(sic)," Malviya tweeted.