I am not sure what these economists are crowing about. We are already the world's 3rd largest economy. The Chinese economy is about 2.5 times ours. This is despite the Wuhan virus - so we are not doing all that badly.
Our real GDP is around $9 trillion and China's is around $22 trillion. The US is around $20.5 trillion. So, we are doing ok economy wise. Where we lack is technology sophistication and moving low income agriculture people to better paying professions, so we can urbanize more and the whole society can become more sophisticated, with better healthcare, water, food choices, enough moneys to travel abroad etc. So Raghuram Rajan has to focus on how to cater to the aspirational needs of people. Most people have some amount of their basic needs taken care of today and when we double real GDP by 2025-2026, almost all basic needs will be taken care of. So, this no longer is a problem. We need to focus on increased R&D, higher productivity of labor, skilling rural labor to work on more sophisticated jobs, semi-urbanizing villages, making our cities world-class, better political governance,much reduced corruption etc. Raghuram Rajan is still stuck on roti, kapda, makaan policy, which shows he is out of touch with what is going on in India.