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Motivated with the concept of transform learning and the utility of rational wavelet transform in audio and speech processing, this paper proposes Rational Wavelet Transform Learning in Statistical sense (RWLS) for natural images. The proposed RWLS design is carried out via lifting framework and is shown to have a closed form solution. The efficacy of the learned transform is demonstrated in the application of compressed sensing (CS) based reconstruction. The learned RWLS is observed to perform better than the existing standard dyadic wavelet transforms.