Govt not present as India faces 'greatest challenge' in Covid-19: Rajan

Raghuram Rajan, former RBI governor
Covid-19 is probably India's greatest challenge since independence, former RBI Governor Raghuram Rajan said on Saturday, arguing that in many places the government was not present to help the people.

Addressing a virtual event organised by University of Chicago Center in Delhi, Rajan said India needs a quick bankruptcy process for the MSME sector.

"This is a tragic time in India given the pandemic. Covid-19 pandemic is probably India's greatest challenge since independence," he said.

India has been reporting more than 3 lakh new cases daily in recent weeks and the death toll due to the infection is also rising.

"One of the effects of the pandemic is, we don't see the government present for various reasons," Rajan said.

Noting that the Maharashtra government was able to provide oxygen beds to Covid-19 patients, he said, "In many places that level of the government was also not working."

According to Rajan, post pandemic if we don't seriously question society, it would be almost as big a tragedy as the pandemic.

"The pandemic has shown that we are all connected. No man is island, no woman is island," he said.

Rajan, currently a professor at the University of Chicago Booth School of Business, noted that sometimes, you have to reform not by stealth but in full openness.

Recalling his famous IIT Delhi speech, the eminent economist said he was being seen as token opposition by the press.

"My IIT Delhi speech was not a criticism of the government...Things get over interpreted sometimes," he said.

Speaking at the convocation of IIT Delhi, his alma mater, on October 31, 2015, Rajan had said tolerance and mutual respect were necessary to improve the environment for ideas and physical harm or verbal contempt for any particular group should not be allowed.

"We need freedom of speech, freedom to criticise, it will prepare India for the 21st century," he had said.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel