India will return to high economic growth soon : RBI

Reserve Bank of India (RBI) Governor Raghuram Rajan said he is confident India will return to high economic growth like in the past, in a matter of a couple of years. Calling the surge in gold imports due to relaxation of import rules and the widening trade gap one-offs, Rajan said things will return to normal soon with the fall in gold imports. The Indian economy this fiscal slipped to its worst growth in a decade, while data indicates that project clearances have become quicker but no new investments are coming through given the high debt levels of companies. Governor Rajan who forced taxi hailing app Uber Technologies to tweak its offering to comply with Indian rules, said innovations have to fall in line with regulations no matter who you are, and new technology needs some adjustments in terms of regulation.