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Covid Probably India’s Greatest Challenge Since Independence: Raghuram Rajan | India News

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NEW DELHI: The Covid-19 pandemic is probably India’s biggest challenge since independence, former RBI Governor Raghuram Rajan said on Saturday, adding that in many places the government was not present to help people for various reasons.
Addressing a virtual event hosted by the University of Chicago Center in Delhi, Rajan said that India needs a speedy bankruptcy process for the MSME sector.
“This is a tragic time in India given the pandemic. The Covid-19 pandemic is probably India’s biggest challenge since independence,” he said.
India has been reporting more than 3 lakh of new Covid cases a day in recent weeks and the number of deaths due to the infection is also increasing.
“One of the effects of the pandemic is that 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 government was not working either.”
According to Rajan, after a pandemic if we don’t seriously question society, it would be a tragedy almost as great as the pandemic.
“The pandemic has shown that we are all connected. No man is an island, no woman is an island,” he said.
Rajan, currently a professor at the Booth School of Business at the University of Chicago, noted that sometimes you have to reform not stealthily, but frankly.
Recalling his famous IIT speech in Delhi, the eminent economist said that the press saw him as a token opposition.
“My IIT Delhi speech was not a criticism of the government … Things are being over-interpreted,” he said.
Speaking at the convocation of IIT Delhi, his alma mater, on October 31, 2015, Rajan had said that tolerance and mutual respect were necessary to improve the environment for ideas and that physical harm or contempt should not be allowed. verbal towards no particular group.
“We need freedom of speech, freedom to criticize, it will prepare India for the 21st century,” he had said.

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