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New Delhi, Feb 29: Former RBI governor Raghuram Rajan has said slowdown in growth is due to the current government focussing more on meeting its political and social agenda rather than paying attention to the economy.

India can still reverse its slowing economic growth by paying attention to key issues, he said. "It's a sad story, I think most recently, it is politics," Rajan said in response to a question on what was stopping India's growth which remains below potential.

In an interview to Bloomberg TV, Rajan said unfortunately the current government after a massive election win has "focussed more on fulfilling its political and social agenda rather than paying attention to the economic growth".

"Unfortunately, this drift has continued a pace of slowing growth, which was precipitated initially by some actions the government took such as the demonetisation and a poorly rolled out Goods and Services Tax (GST) reform," Rajan said.

India's GDP growth hit nearly 7-year low of 4.7 per cent in the December quarter, as per official data released on Friday.

The GDP growth for the quarter is the lowest since January-March of 2012-13.

In the interview, which was telecast before the official numbers were released, Rajan said India has not paid sufficient attention to cleaning up the financial sector and unfortunately, that is leading to the slowing growth.

"These are things that they can change if attention is paid to them and appropriate actions are taken," Rajan, Professor of Finance at University of Chicago Booth School of Business, said.

On being asked about the spread of the coronavirus globally and its impact, he said there will certainly be some legacy issues in terms of business rethinking in the global supply chain.

"If it is disrupted anywhere, the entire supply chain is held ransom and companies are going to start rethinking that should we actually have these really spread out global supply chain or to bring them back closer home and how much diversification should we have. Should we have multiple production sites across the world rather than have it focussed primarily in Asia," he said.

United Nations, Jul 10: India is a "good example" as solar auctions have seen popularity amidst the height of the COVID-19 pandemic, UN chief Antonio Guterres said on Thursday, underlining that renewable energy is the only energy source expected to grow in 2020 and offers more jobs than the fossil fuel industry.

In his remarks to the International Energy Agency "Clean Energy Transition Summit'', UN Secretary-General Guterres urged the international community to commit to further usage of coal and to end all external financing of coal in the developing world.

"Coal has no place in COVID-19 recovery plans. Nations must commit to net-zero emissions by 2050 and submit more ambitious national climate plans before COP-26 next year," he said.

"The seeds of change are there. Renewable energy is the only energy source expected to grow in 2020. Solar auctions have seen popularity amidst the height of the pandemic. India serves as a good example. Renewables offer three times more jobs than the fossil fuel industry," Mr Guterres said.

Last month, Adani Green Energy said it has bagged the first of its kind manufacturing-linked solar contract worth Rs 45,000 crore from the Solar Energy Corporation of India (SECI) to develop 8 GW electricity generation capacity and 2 GW equipment manufacturing facility in the country.

Mr Guterres said he has asked all countries to consider six climate positive actions as they rescue, rebuild and reset their economies.

"We need to make our societies more resilient. We need green jobs and sustainable growth," he said, adding that bailout support to sectors such as industry, aviation and shipping should be conditioned on alignment with the goals of the Paris Agreement.

Countries also need to stop wasting money on fossil fuel subsidies and place a price on carbon, he said, noting that countries need to consider climate risk in their decision making.

"Every financial decision must take account of environmental and social impacts. Overall, we need to work together," he said.

With the beginning of Ramzan just about 10 days away, Maulana Khalid Rashid Firangi Mahali, the chairperson of the Islamic Centre of India and the Imam of Aishbagh Eidgah has issued an advisory to people on how to observe Ramzan during the lockdown.

In his appeal, the Sunni cleric, who is a member of the All India Muslim Personal Law Board (AIMPLB), has urged people that the holy month of Ramzan is likely to begin from April 25. The lockdown may also be extended beyond April 14.

"In this case, it is advised that people observe roza (fast) and do iftar (meal to break the fast) in the evenings at their homes. There should be no congregational prayers in the mosque but only at homes. Only those who stay or are staying at a mosque should pray there and that too while maintaining adequate social distance," said Maulana Khalid Rashid Firangi Mahali in a video message.

The cleric, in the 12-point advisory, has asked people to fast as is mandatory in Islam and to pray for the end of the pandemic, during the month of worship.

The advisory says that those who used to arrange for iftar of poor and needy persons at the mosque, should continue to do so this year as well but the food should be distributed to the needy.

"Those who conducted Iftar parties in Ramzan should give the money kept for it in charity. Not more than five people should be present at any time at a mosque," the cleric added.

Earlier for April 8 and April 9, both Shia and Sunni clerics had appealed to the people to stay indoors and pray on the occasion of Shab-e-Baraat, respectively. To ensure full compliance of the lockdown, the gates of several graveyards in the city were locked up by the caretakers since traditionally Muslims visit graves of their ancestors on Shab-e-Baraat--the night of Allah's forgiveness, to pray for their ancestors.