Raghuram Rajan’s take on the coronavirus Lockdown in India and its effect on Economy

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Famous economist of India, Mr. Raghuram Rajan said in an interview that this lockdown should not last forever in a country like India. He also suggested that the government will have to be very clever about how and when to open all sectors so that the economy does not affect itself adversely and badly on all fronts.

Lockdown effect on economy

The former governor of the Reserve Bank of India also mentioned in his statement that India needs to reopen businesses as the livelihood of millions of Indians is at great risk due to the continuous extensions in the lockdown.

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The noted economist is of an opinion that the government should take immediate and proper measures to support the poor compatriots of the nation. When it was asked by Gandhi that how much money India might need to help its poor people during the phase of lockdown, Raghuram said, “India will need a budget of at least Rs 65,000 crore and India should do this.”

What we have to do is manage the lockdown. India needs to be clever about the lockdown reopening strategy,” The former Governor said. He said this in conversation about how India will need to think about all the possible prospects and a plan to open the businesses and offices across the places at least where there are lesser COVID-19 issues.

“There are ways countries can take advantage of the situation. There will be rethinking. In this situation, India can find opportunities for Its industry.”He said.

Let us see what the government is planning for the betterment of the countrymen in the coming days.


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