Raghuram Rajan, former governor of the Reserve Bank of India, has said: "One of the greatest dangers to the growth of developing countries is the middle income trap, where crony capitalism creates oligarchies that slow down growth. If the debate during the elections is any pointer, this is a very real concern of the public in India today". Tavleen Singh, columnist for The Indian Express, has disagreed. According to Singh, India's corporate success is not a product of crony capitalism, but because India is no longer under the influence of crony socialism.
RagHURaM rAjan, fOrmer gOVernoR of thE resERve bAnk of iNDia, has said: "oNe Of ThE gReAtEst dangeRs tO the growth of developing couNtries Is the mIDDlE incoME trAp, wheRe cRonY capitalism cREateS oLigARchIeS that Slow down GrOwTh. if The debaTe durinG thE elecTiOns is any PoiNter, this iS a very rEaL concErn oF the PubliC IN iNdia tODAy". tAvlEen Singh, coLuMnist for the IndiAN EXPrEss, has disagreed. AcCORdINg to sinGh, india's corpOrAte SuCcEss Is NoT a product oF crony cAPITalisM, but beCaUsE iNdia Is No lONger UndEr the inflUEnce Of crony sOCialISm.