Raghuram Rajan urges govt to invite experts to deal with economic impact of Covid-19
NEW DELHI: Former RBI governor Raghuram Rajan has suggested to the go nment to call people with proven expertise and capabilities, including from opposition parties, to deal with perhaps the greatest emergency being faced by the country since Independence following the coronavirus outbreak.
He also cautioned that driving everything from the Prime Minister's Office, with the same overworked people, may not be of much help.
"There is much to do. The go nment should call on people with proven expertise and capabilities, of whom there are so many in India, to help it manage its response. It may even want to reach across the political aisle to draw in members of the opposition who have had experience in previous times of great stress like the global financial crisis.
"If, however, the go nment insists on driving everything from the Prime Minister's Office, with the same overworked people, it will do too little, too late," Rajan said in a blog titled "Perhaps India's Greatest Challenge in Recent Times".
He said economically, India is probably facing its greatest emergency since Independence.
"The global financial crisis in 2008-09 was a massive demand shock, but our workers could still go to work, our firms were coming off years of strong growth, our financial system was largely sound and our go nment finances were healthy.
"None of this is true today as we fight the coronavirus pandemic," Rajan, who completed his three-year term at the Reserve Bank of India (RBI) in 2016, noted.
He, however, asserted that with the right resolve and priorities, and drawing on India's many sources of strength, it can beat this virus back, and even set the stage for a much more hopeful tomorrow.
Laying out steps the country could take to recover from the economic effects of the Covid-19 outbreak, Rajan said the immediate priority is to suppress the spread of the pandemic through widespread testing, rigorous quarantines and social distancing.
What the hell he had done being a RBI Governer. Bad loans increased like anything in his tenure.
This idiot looks more like a crook than an economist !!!
He wants to return a well paid job.
Why cant this guy focus on his chicago booth college job & let India be in peace !.
If he have one in Chicago. If he is such an expert trump would’ve asked him .... USA economy is in dire situation. Why on earth he is inviting insult.
Rajan was a totally useless failure, only helped his masters loot the banks, was booted out by jaitley now wants to persuade govt to give him some job
Feel sorry for him. His 'MAS' media attention syndrome is not getting better. He can simply say, I have no job in US, please let me return to India.
He can not take bribes in USA as he used to take in india and what else he can do to help his countrymen
Useless, selfish and biased person most of bank NPA and bad loans during his tenure.
Jiska Khaya Usi Ka Bajaya
Honestly you feel you are expert if not do your own business, Modi knows what to do.
Mr Rajan mind your business.
Modiji and others are here to protect us.
We know how to survive.
This guy was a mole who belonged to the Congress. He back stabbed inspite of the faith modi had on him.
Mr Rajan- pls give your silly gyan to US govt...
The man is waiting for Congress’ return
What is this fellow agenda ?, Primary is to get covid under control, Economy is secondary, what do you do with economy without life, pls advise something about control covid19
Rajan should be more concern with US and Europe which have undergone much more severe impact than India.
Does he mean himself, as an expert? Rajan, not looking for job, are we? Lay off, nobody listens to you.
yes he only knew how to please the corrupt Congress leadership to establish corrupt companies and financial institutions.
Do you read people reviews...after you open your mouth....why dont you keep your mouth shut and let Govt. do what it deems right. Why they should be listening to opposition and to you....we know what you and opposition did to our economy.
Ashok Kumar Sahay
he is agent of CONGRESS party, after helping the looters to loot Indian banks now he is trying sprinkle salt over the wound
Viji Cheri User
This guy is a selfish guy and not a true patriot ..... That's what I feel
Congi sl ve at play, again
we don't want to see this dirrrrty face and none needs your advice asssssssssshole