Will India face Sri Lanka, Pakistan-like economic crisis? Raghuram Rajan's reply

Will India face Sri Lanka, Pakistan-like 

economic crisis? Raghuram Rajan's reply

According to Raghuram Rajan, India will not face a severe economic crisis shortly. India has a sufficient amount of foreign exchange reserves.

In this economic year, RBI had done a really good job to boost and stabilizing the most complicated economy in the World.

In July, Colombo faced 60.8 percent of inflation which was 54 percent in June. Sri Lanka became a fuelless country now. Less amount of forex reserves led Sri Lanka to go through the biggest economic crisis. Shortage of essential items agitated the whole country. 

On the other hand, Pakistan is also going through a lot of economic problems. Uncertain political hazards led the whole country to this bad situation. Pakistan govt had taken some major steps but they turn into a failure. Inflation is slowly grasping the Pakistani economy.

Prices of daily items are increasing day by day. Some protests have been seen around the whole country.

Former RBI governor Rajan remarks that the whole world is going through this inflation. But India will not be affected by this as RBI has done a great job by increasing interest to ensure the constant state of the economy. He mentioned that as the food crisis is decreasing throughout the whole world it will decrease in India too.

The latest updates of RBI show that India is standing at 571.56 billion USD. Though some decline in forex exchange had been shown RBI assured that it is only because of decreasing foreign assets no point to be worried.