'Converting new pension scheme to old is a no-go area': Raghuram Rajan

In an exclusive interview with India Today, former RBI Governor, Raghuram Rajan criticised the proposal of converting the new pension scheme to the old pension scheme by some state governments. He mentioned that such a move would act as a barrier to substantial development spending in government. Rajan also stressed on the need for effective targeting and cautioned against extending such schemes to the point where they hinder investment in critical areas such as health care, nutrition and education. Listen in for more insights from this financial authority on public spending and governance.