Former Reserve Bank of India Governor Raghuram Rajan has said that the ongoing slowdown in the economy is very worrying and the government will have to solve the problems of the energy sector and non-banking financial sectors immediately.

He said that new reforms would have to be introduced to increase investment in the private sector.

In an interview to news agency PTI, Raghuram Rajan said that the way GDP has been calculated in India needs to be rethought.

He also referred to the statement of Arvind Subramaniam, the former economic advisor of the Modi government, in which he had spoken about the exaggeration of GDP and presented his estimate.

The growth rate in the year 2018-19 was 6.8 percent, which is the lowest after 2014-15. Many private experts and the Central Bank estimate that this year also the growth rate will be less than the government estimate of 7 percent.

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