COVID-19 is possibly India's biggest challenge since independence, former RBI Governor and currently a professor at the University of Chicago Booth School of Business, Raghuram Rajan has said.
Speaking at a virtual event organised by the University of Chicago Center in Delhi on Saturday, Rajan stated that India needs a speedy bankruptcy process for the MSME sector.
Rajan stated that "this is a tragic time" in the country given the pandemic. He added that the COVID-19 pandemic is "probably India's greatest challenge since independence." The country has been recording over 3 lakh fresh daily coronavirus cases daily in recent weeks, with the death toll from the infection also rising.
Former RBI Governor was arguing that in several places the government was not available to help the people. "One of the effects of the pandemic is, we don't see the government present for various reasons," Rajan said.
According to Raghuram Rajan, post-pandemic if we don't seriously question society, it would be almost as big a tragedy as the pandemic.