Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Says 7% growth not enough; centralisation of power a problem.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&amp;rsquo;s needs.&lt;br /&gt;
&lt;br /&gt;
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &amp;mdash; 2012 to 2016 &amp;mdash; India was growing at a faster pace before it was hit by two major headwinds. &amp;ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&amp;rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.&lt;br /&gt;
&lt;br /&gt;
On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &amp;lsquo;prophets of doom&amp;rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &amp;ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&amp;rdquo; he said in a Facebook blog &amp;lsquo;Impact of Demonetisation&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the...&#039;,
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&lt;br /&gt;
&lt;em&gt;Says 7% growth not enough; centralisation of power a problem.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&amp;rsquo;s needs.&lt;br /&gt;
&lt;br /&gt;
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &amp;mdash; 2012 to 2016 &amp;mdash; India was growing at a faster pace before it was hit by two major headwinds. &amp;ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&amp;rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.&lt;br /&gt;
&lt;br /&gt;
On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &amp;lsquo;prophets of doom&amp;rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &amp;ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&amp;rdquo; he said in a Facebook blog &amp;lsquo;Impact of Demonetisation&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the...&#039;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the..."/>
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                <strong>Demonetisation, GST held back growth: Raghuram Rajan</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>Says 7% growth not enough; centralisation of power a problem.<br /></em><br />Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&rsquo;s needs.<br /><br />Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &mdash; 2012 to 2016 &mdash; India was growing at a faster pace before it was hit by two major headwinds. &ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.<br /><br />On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &lsquo;prophets of doom&rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&rdquo; he said in a Facebook blog &lsquo;Impact of Demonetisation&rsquo;.<br /><br />Please <a href="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/" title="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/">click here</a> to read more. <br /></div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68019bfc365bc-trace').style.display = (document.getElementById('cakeErr68019bfc365bc-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr68019bfc365bc-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr68019bfc365bc-code').style.display = (document.getElementById('cakeErr68019bfc365bc-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr68019bfc365bc-context').style.display = (document.getElementById('cakeErr68019bfc365bc-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr68019bfc365bc-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Says 7% growth not enough; centralisation of power a problem.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&amp;rsquo;s needs.&lt;br /&gt;
&lt;br /&gt;
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &amp;mdash; 2012 to 2016 &amp;mdash; India was growing at a faster pace before it was hit by two major headwinds. &amp;ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&amp;rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.&lt;br /&gt;
&lt;br /&gt;
On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &amp;lsquo;prophets of doom&amp;rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &amp;ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&amp;rdquo; he said in a Facebook blog &amp;lsquo;Impact of Demonetisation&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the...&#039;,
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&lt;br /&gt;
&lt;em&gt;Says 7% growth not enough; centralisation of power a problem.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&amp;rsquo;s needs.&lt;br /&gt;
&lt;br /&gt;
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &amp;mdash; 2012 to 2016 &amp;mdash; India was growing at a faster pace before it was hit by two major headwinds. &amp;ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&amp;rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.&lt;br /&gt;
&lt;br /&gt;
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&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the...&#039;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the..."/>
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                <strong>Demonetisation, GST held back growth: Raghuram Rajan</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>Says 7% growth not enough; centralisation of power a problem.<br /></em><br />Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&rsquo;s needs.<br /><br />Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &mdash; 2012 to 2016 &mdash; India was growing at a faster pace before it was hit by two major headwinds. &ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.<br /><br />On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &lsquo;prophets of doom&rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&rdquo; he said in a Facebook blog &lsquo;Impact of Demonetisation&rsquo;.<br /><br />Please <a href="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/" title="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/">click here</a> to read more. <br /></div>               </font>
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-PTI&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Says 7% growth not enough; centralisation of power a problem.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&amp;rsquo;s needs.&lt;br /&gt;
&lt;br /&gt;
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &amp;mdash; 2012 to 2016 &amp;mdash; India was growing at a faster pace before it was hit by two major headwinds. &amp;ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&amp;rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.&lt;br /&gt;
&lt;br /&gt;
On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &amp;lsquo;prophets of doom&amp;rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &amp;ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&amp;rdquo; he said in a Facebook blog &amp;lsquo;Impact of Demonetisation&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the...&#039;,
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&lt;br /&gt;
&lt;em&gt;Says 7% growth not enough; centralisation of power a problem.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&amp;rsquo;s needs.&lt;br /&gt;
&lt;br /&gt;
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &amp;mdash; 2012 to 2016 &amp;mdash; India was growing at a faster pace before it was hit by two major headwinds. &amp;ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&amp;rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.&lt;br /&gt;
&lt;br /&gt;
On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &amp;lsquo;prophets of doom&amp;rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &amp;ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&amp;rdquo; he said in a Facebook blog &amp;lsquo;Impact of Demonetisation&amp;rsquo;.&lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&amp;rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the...&#039;
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-PTI

Says 7% growth not enough; centralisation of power a problem.

Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the..."/>
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                <strong>Demonetisation, GST held back growth: Raghuram Rajan</strong></h1>
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                <div align="justify">-PTI<br /><br /><em>Says 7% growth not enough; centralisation of power a problem.<br /></em><br />Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&rsquo;s needs.<br /><br />Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &mdash; 2012 to 2016 &mdash; India was growing at a faster pace before it was hit by two major headwinds. &ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.<br /><br />On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &lsquo;prophets of doom&rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&rdquo; he said in a Facebook blog &lsquo;Impact of Demonetisation&rsquo;.<br /><br />Please <a href="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/" title="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/">click here</a> to read more. <br /></div>               </font>
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-PTI<br />
<br />
<em>Says 7% growth not enough; centralisation of power a problem.<br />
</em><br />
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&rsquo;s needs.<br />
<br />
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &mdash; 2012 to 2016 &mdash; India was growing at a faster pace before it was hit by two major headwinds. &ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.<br />
<br />
On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying &lsquo;prophets of doom&rsquo; have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. &ldquo;By the time the first five years of this government are over, we will be close to doubling the assessee base,&rdquo; he said in a Facebook blog &lsquo;Impact of Demonetisation&rsquo;.<br />
<br />
Please <a href="https://www.financialexpress.com/economy/demonetisation-gst-held-back-growth-raghuram-rajan/1378218/">click here</a> to read more. <br />
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-PTI<br />
<br />
<em>Says 7% growth not enough; centralisation of power a problem.<br />
</em><br />
Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India&rsquo;s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country&rsquo;s needs.<br />
<br />
Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years &mdash; 2012 to 2016 &mdash; India was growing at a faster pace before it was hit by two major headwinds. &ldquo;The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,&rdquo; he said delivering the second Bhattacharya Lectureship on the Future of India.<br />
<br />
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<br />
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Demonetisation, GST held back growth: Raghuram Rajan

-PTI Says 7% growth not enough; centralisation of power a problem. Demonetisation and the Goods and Services Tax (GST) are the two major headwinds that held back India’s economic growth last year, former RBI governor Raghuram Rajan has said, asserting that the current 7% growth rate is not enough to meet the country’s needs. Addressing an audience at the University of California in Berkeley on Friday, Rajan said for four years — 2012 to 2016 — India was growing at a faster pace before it was hit by two major headwinds. “The two successive shocks of demonetisation and GST had a serious impact on growth in India. Growth has fallen off interestingly at a time when growth in the global economy has been peaking,” he said delivering the second Bhattacharya Lectureship on the Future of India. On the second anniversary of demonetisation on November 8, finance minister Arun Jaitley staunchly defended the drive, saying ‘prophets of doom’ have been proven wrong as hard data of two years shows an increase in tax base, greater formalisation of the economy and India retaining the fastest growing economy tag for the fifth year in a row. “By the time the first five years of this government are over, we will be close to doubling the assessee base,” he said in a Facebook blog ‘Impact of Demonetisation’. Please click here to read more.