Following India’s achievement of a $4 trillion market capitalization benchmark and the remarkable rise of the Sensex, ex-RBI Governor Raghuram Rajan has issued a warning against drawing broad conclusions about long-term economic prosperity from stock market peaks, according to The Economic Times.
In their recently published book, ‘Breaking the Mould,’ Rajan and economist Rohit Lamba argue that the enthusiasm on Dalal Street gives a misleading picture of the economy. They highlight the growing inequality between huge firms and smaller businesses as a major concern.
