Now, RBI Governor Rajan says ethnic intolerance not conducive for progress

The Reserve Bank of India Governor Raghuram Rajan has expressed strong opinion against the ethnic intolerance prevailing in the country, and called for the environment of tolerance and mutual respect.

Zee Media Bureau

New Delhi: Now, Reserve Bank of India Governor Raghuram Rajan joined the debate on intolerance and expressed sharply on the ethnic tension prevailing in the country, and has said that an open spirit of inquiry is critical for the economic progress in the country.

Rajan said that excessive political correctness stifles progress and called for an improved environment for tolerance and mutual respect.

Speaking at the convocation at IIT Delhi, Rajan said that India's tradition of debate and an open spirit of enquiry should be encouraged and added that tolerance can take offence out of debate. He added that once one starts looking for insults, one can find them everywhere, even in the most innocuous statements.

Moody's Analytics, an arm of global ratings agency Moody's, had said on Friday that Prime Minister Narendra Modi must keep "his party members in check" from making controversial statements "or risk losing domestic and global credibility".

With inputs from agencies