Ready to Help India to Deal with Economic Recession Caused by Coronavirus: Raghuram Rajan

Former Governor of Reserve Bank of India (RBI) Raghuram Rajan has expressed his desire to help in tackling the economic crisis caused by the coronavirus epidemic. Rajan said that he is ready to help India in dealing with the recession caused by coronavirus, then he is ready for it. He said that due to this epidemic the world is definitely going towards the great depression and its stagnation will depend on the steps to be taken to prevent the recurrence of this epidemic.

Recently, Rajan suggested in a blog that now a plan should be made after the lockdown, what will happen if the effect of the virus does not end? It will be difficult for the country to keep a complete lockdown for long. Therefore, we should think about how we can start some activities in areas with low infection with caution. At the same time, Rajan suggested to reach the poor through direct benefit transfer and help small and medium enterprises. Rajan had said that India should first focus on preventing the spread of corona infection.

International Monetary Fund (IMF) Chief Cristina Georgieva said last Thursday that the 2020 economic slowdown due to the coronavirus pandemic is more terrible than the 1930 recession. She also said that in 2021 this recession is expected to provide some relief. She said that today the world is struggling with a crisis that he had never seen before. COVID-19 has rapidly deteriorated our economic and social status. We had never seen this before.