Raghuram Rajan says India is in the middle of an "economic depression"

Former Indian Reserve Bank (RBI) Governor Raghuram Rajan said India is in the middle of an "economic depression" with signs of a deep malaise in the Indian economy running through extreme power centralization in the Office of the Prime Minister and weak ministers. Penning his recommendations to help the ailing Indian economy out of the India Today magazine's ongoing slowdown, he called for reforms to liberalize capital, land and ....