Rangarajan was speaking on the sidelines of the inauguration of the academic session of 'Bengaluru Dr B R Ambedkar School of Economics'.
Responding to a query on whether the government was taking important steps to revive the economy, former RBI Governor C Rangarajan said that “GST is an important step forward”. The government, however, should pay attention to reviving private sector investments, Rangarajan stated while speaking on the sidelines of the inauguration of the academic session of 'Bengaluru Dr B R Ambedkar School of Economics'.
Commenting on the implementation of GST, he said “implementation... that problem will be there when such a massive reform measure is being introduced.”
He added that economic growth would resume once the government resolves all the issues.
"But I think the point is that the investment rate is coming down, that is private investment. In fact, public investment is doing all right. So the focus should be on how to augment private investment,” he quipped.