India’s Covid crisis reveals complacency and lack of foresight: Raghuram Rajan
Bloomberg
May 4 |
Updated on
May 04, 2021
Raghuram Rajan, former RBI governor - REUTERS×
Pressure building on Centre to impose strict lockdowns to contain the pandemic
India’s overwhelming surge of coronavirus infections has revealed complacency after last year’s first wave, as well as a “lack of foresight, a lack of leadership,” according to Raghuram Rajan, former governor of RBI.
“If you were careful, if you were cautious, you had to recognise that it wasn’t done yet,” Rajan said Tuesday in a Bloomberg Television interview with Kathleen Hays. “Anybody paying attention to what was happening in the rest of the world, in Brazil for example, should have recognised the virus does come back and potentially in more virulent forms.”
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+ May 03, 2021 CEBU business leaders are in favor of easing restrictions on foreign investments as this will help in the country’s efforts to resuscitate the economy.
Mandaue Chamber of Commerce and Industry president Steven Yu said while this would result in competition among local players it will open up more opportunities in terms of employment generation, upskilling of workers and innovation among business owners.
“It is a step in the right direction, to diversify our economy from over-reliance on overseas Filipino remittances and business process management (BPM), especially now that tourism is on the back burner due to the pandemic,” said Yu.