RBI policy of not allowing crypto is a good approach: Amiyatosh Purnanandam

India needs to improve on reducing regional inequalities and invest in human capital in order to become a developed country by 2047, Amiyatosh Purnanandam, economist, University of Michigan, says in an interview with Ruchika Chitravanshi in New Delhi. He adds that the government needs to incentivise good long-term risk taking by banks to push private investment. Edited excerpts:

India wants to become a developed country by 2047. Are we on the right track? 

You need about 7-8 per cent growth rate for the next 25 years. And there’s of course a whole lot of uncertainty. That will