Regarding a virtual event hosted by the University of Chicago Center in Delhi, Rajan said India needs a rapid bankruptcy process in the MSME sector.
“Given the pandemic, this is a tragic time in India. The Covid-19 pandemic is probably India’s biggest challenge since independence,” he said.
Over the last few weeks, more than Rs 30,000 new Covid cases have been reported daily in India, and the number of deaths from infection is increasing.
“One of the effects of a pandemic is the lack of government for a variety of reasons,” Rajan said.
The Maharashtra state government was able to provide oxygen beds to Covid-19 patients, saying that “in many places, that level of government was not functioning either.”
According to Rajan, after a pandemic, if you don’t seriously question society, it will be about as big a tragedy as a pandemic.
“The pandemic shows that we are all connected. Men are not islands, women are not islands,” he said.
Rajan, now a professor at the University of Chicago Booth Business School, said that sometimes he had to reform completely open rather than stealth.
Recalling his famous IIT Delhi speech, prominent economists said he was seen by the press as the opposite of the token.
“My IIT Delhi speech wasn’t a criticism of the government … things are sometimes interpreted,” he said.
At the convocation of his alma mater, IIT Delhi, on October 31, 2015, Rajan needs tolerance and mutual respect to improve the environment of his ideas, allowing physical harm and verbal contempt for certain groups. I said it shouldn’t be.
“We need freedom of speech and freedom of criticism, which will prepare India for the 21st century,” he said.
Raghuram Rajan, Health News, ET HealthWorld
Source link Raghuram Rajan, Health News, ET HealthWorld