HYDERABAD: Former Reserve Bank of India (RBI) governor Raghuram Rajan met Chief Minister A Revanth Reddy here on Sunday. Rajan reportedly advised Revanth to strike a balance between welfare and development. He said the implementation of welfare schemes should not have any negative impact on the spending for development, according to sources.
Rajan’s meeting with Revanth assumed significance as the government has decided to release a white paper on state finances. The state government is of the view that its greatest challenge is to improve the financial situation of the state.
There are also talks that the state government might convene a conference on state finances after the completion of the Legislative Assembly session, and invite Rajan for the same. Rajan, who served as the chief financial advisor in the previous Union government, shared his experiences in the field of economics with Revanth in the meeting. The former RBI governor and the chief minister discussed the present economic condition of the state and the strategies needed for economic development.
Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka, IT Minister D Sridhar Babu, Chief Secretary Santhi Kumari and Special Chief Secretary (Finance) K Ramakrishna Rao were present in the meeting.