In the wake of the ongoing pandemic spreading its deadly wings in India, Economist and former Reserve Bank of India(RBI) Governor Raghuram Rajan made some shocking predictions of the pandemic impact.
Raghuram Rajan anticipated that the impact of the ongoing pandemic will be so strong that, even after the vaccine for the virus is found, the impact will last further in the country.
Listing out the financial burdens, the former RBI Governor said, out of all the sectors, the small and medium level businesses will face the wrath of the crisis created by the virus and it's very difficult for these businesses to recover from the crisis.
He went on to say that, the developing countries like us, which yield highly on exports will face the will be the worst-affected due to the severe loss faced by the world economy.
Adding further, Raghuram Rajan said that until and unless people step out of their houses and go to restaurants and eateries, the chances for the economy to recover are very thin.
Raghuram Rajan anticipated that the impact of the ongoing pandemic will be so strong that, even after the vaccine for the virus is found, the impact will last further in the country.
Listing out the financial burdens, the former RBI Governor said, out of all the sectors, the small and medium level businesses will face the wrath of the crisis created by the virus and it's very difficult for these businesses to recover from the crisis.
He went on to say that, the developing countries like us, which yield highly on exports will face the will be the worst-affected due to the severe loss faced by the world economy.
Adding further, Raghuram Rajan said that until and unless people step out of their houses and go to restaurants and eateries, the chances for the economy to recover are very thin.