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Raghuram Rajan suggests spending ₹65,000 crore for the poor

Part of: GS Prelims and GS-III – Economy

In News:

In a recent online conversation with a political leader, former RBI Governor Raghuram Rajan has suggested ways to revive Indian economy in measured manner.

Key takeaways:

He cautioned not to have a divided house in challenging times.
He also estimated that India needs to spend about ₹65,000 crore to take care of the vulnerable sections like the migrant workers.
He also emphasized that the economy needs to be opened up in a sequential way in working out a balance in fighting the virus and facing the consequences of the economy.
He also suggested that India should leverage its Direct Benefit Transfer (DBT) network to protect livelihoods, keep people alive.

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