India is not reaping the benefits of democratic dividends, former RBI governor Raghuram Rajan said on April 16, emphasising that there is a need to focus on improving the human capital and enhancing their skill sets.
“I think we are in the midst of it (democratic dividend), but the problem is we are not reaping the benefits,” Mr. Rajan said at a conference on “Making India an Advanced Economy by 2047: What Will it Take” at the George Washington University here.
“That's why I said 6% growth. If you think that's about what we are right now, take away the fluff in the GDP numbers. That 6% is in the midst of a demographic dividend. It is much below where China and Korea were when they reaped their demographic dividend. And that's why I'm saying we are being overly complicit when we say this is great. This is not because we are losing the demographic dividend because we are not giving those guys jobs,” the former RBI governor said.
