New Delhi: Former Reserve Bank Governor Raghuram Rajan said, the best way to promote the economy is to stop the spread of coronavirus infection. After this, the government should think about the relief package.
He said, Central Banks can only help a little in this matter. Government can do real work. The government will have to encourage companies and people so that the virus can be controlled.
In a TV show, Rajan said, “People want the infection to stop. The government is confident that a viral solution can be found with a preventive measure.” Rajan is currently a professor at the Chicago Booth School of Business.
The world economy is in its worst phase since the 2008 financial crisis due to coronavirus. Economists at Bank of America Corp on Thursday warned their clients that global growth could be 2.8 per cent this year. It is the weakest since 2009.