Economy Saving the world from misguided populism: Raghuram Rajan offers some prescriptions Updated : March 25, 2019 06:03 PM IST Rajan does mention that in India an all powerful central government is checked not by a powerful private sector or by the media but by state governments and by bodies like the judiciary. Rajan’s recommendation is greater decentralisation. He advises that more powers and monies be restored to local governments and communities. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.