Raghuram Rajan, economist and former Chief Economist of International Monetary Fund (IMF) , said that the crisis caused due to business cycles do not mark the end of Free Market Capitalism. Dr Rajan who was appointed as the Economic Advisor to the PM said that free market capitalism was the best model possible for the growth of developing economies. The current crisis not only shows the problems of capitalism , but of capitalist who stretch the framework without worrying about the consequences.