Conversation with Raghuram Rajan – Key Takeaways
Former Congress president Rahul Gandhi has used the COVID-19 to speak to economic expert and former RBI governor Raghuram Rajan. Here Raghuram Rajan said that it is necessary to help the poor at this time, for which the government will spend about 65 thousand crores. Former RBI governor Raghuram Rajan said that India can play a big role on the global stage, India can make its place in the new world order. Regarding the economy at the global level, Raghuram Rajan said that I think something is wrong in the global economic system, people do not have jobs, those who have jobs have further concerns, uneven distribution of income is the opportunity. Must deliver correctly. When asked by former Congress President about the questions among the mind of people regarding economy and work, Raghuram Rajan replied that with reducing the impact of Corona, we should also think about the employment of people. Regarding reopening of the economy, the former RBI governor replied that implication of second lockdown itself means that the government did not prepare in the first lockdown. If we keep thinking that the economy can be reopened only after the cases cease to zero, then we are greatly mistaken. Regarding testing, he said that the number of testing should be increased, if we want to open the economy soon. He added that such situations in the world history are rare, but it has given an opportunity to a country like India to take its industries to the world and establish a communication with its people. He also added that we should adopt stern steps to reopen economy as soon as possible, because our economic conditions are not as good as other countries of the world. As per the CMIE report, about ten crore people are going to loose their jobs which is a grave concern. Raghuram Rajan has been the Governor of the Reserve Bank from 2013 to 2016, on many occasions he has also been criticizing the economic policies of the Modi government.