Jayant Sinha, minister of state for finance, said on Monday that he does not agree with Reserve Bank of India Governor Raghuram Rajan’s comment that in the land of blind, the one-eyed man is king.
The comment had been made by Mr Rajan in the context of commentators saying India is a bright spot in the global economy. When he was asked for his take on the ‘bright spot’ theory, and what his “secret sauce” was to ensure this positioning, had said, “I think we have still to get to a place where we feel satisfied. We have this saying, ‘In the land of the blind, the one-eyed man is king’. We are a little bit that way.”
At an event organised by industry body Assocham, Mr Sinha said, “We are the shinning star (among various nations). I don’t agree with what the governor said.
The minister said all the macroeconomic indicators such as inflation, fiscal deficit, and current account deficit have turned positive during the past two years, ever since the BJP-led government is in power.
While the minister acknowledged that lower oil prices have helped in improving the macroeconomic indicators, he said the government’s policies are responsible for the economic turnaround.