Raghuram Rajan, former Governor of Reserve Bank of India has made a big statement. He said that India is caught in the vortex of 'recession' and the state of the country's economy is pointing to a huge sluggishness. He attributed the 'centralization' of power in the PMO to this situation. He said that this situation has also arisen due to the ministers not having power. In his recommendations for 'India Today' magazine, to remove the country's economy from a period of sluggishness, he emphasized the liberalization of monetary, land and labor markets. Along with this, he has also said to take measures to increase investment and economic growth.

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Raghuram Rajan called upon India to make a free trade agreement in a judicious manner to increase competition and improve domestic capabilities. He wrote in this article, "Centralized nature of the current government can help us understand where the mistake happened. People close to the Prime Minister and some people sitting in the PMO not only take decisions, although ideas and plans also belong to them. This proves to be effective in terms of the political and social agenda of the party, as these people have expertise in these areas. ''

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Rajan said that due to the lack of a complete understanding of the national economy, this idea does not prove to be very effective on the economic front. He further said that even though the previous governments were based on loose alliances, it continuously worked towards economic liberalization. He said, "Too much centralization, ministers not having too many powers and lack of approach only give a boost to reform efforts only after the PMO takes notice." 

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