Former RBI Governor Raghuram Rajan Warns The Indian Government About The Economy
Rajan has asked the government to stay alert and take timely actions or else it would be really difficult for the Indian economy to bounce back.
The Indian economy is currently going through a worrisome situation with its GDP (Gross Domestic Product) contracting by 23.9 per cent in the April-June quarter. Experts are of an opinion that the sudden imposition of lockdown to curb the novel Coronavirus has affected many businesses resulting in economic downfall in India. Former Reserve Bank governor and Indian economist Raghuram Rajan tried to warn the Indian government about the future economic condition through his LinkedIn account. Rajan recommended the Indian government to take adequate measures to increase the purchasing power of the people. He even stated that just by declaring relief packages the economic condition won’t improve.
Further, the former RBI governor also asked the government and financial authorities to stay alert and take timely actions or else it would be really difficult for the Indian economy to bounce back.
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