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Raghuram Rajan to Rahul Gandhi: India needs Rs 65,000 crore to help poor

Rahul Gandhi is interacting with former RBI governor Raghuram Rajan on the economic crisis in India.
Rahul Gandhi and Raghuram Rajan discussed the economic situation in India.

Congress leader Rahul Gandhi is interacting with noted economist and former RBI governor Raghuram Rajan to discuss the economic crisis looming over India due to the ongoing lockdown and measures to tackle the problem.

Rahul Gandhi will be holding a series of such interactions with experts from India and across the world. He said, “This is the first of a series of conversations with global and Indian thought leaders.”

The interaction between Rahul Gandhi and Raghuram Rajan is being streamed on social media platforms Twitter, Facebook and YouTube.

9.30: The interaction has now ended.

9.27 am: Rahul Gandhi asks Rajan, “What do you think of the authoritarian model?” Rajan replies, “It’s appealing to the people who are disempowered and it gives them the sense that here is a strong figure and you will be taken care of.”

9.25 am: Rahul Gandhi: The level of inequality you see in India is nowhere to be seen. You cannot compare the measures taken in the US to that in India. Our societies are very different. Caste is such a factor.

There can’t be a blanket solution for the whole of India as we have a different society structure unlike the US.

9.20 am: Rahul Gandhi: infrastructure of division and hatred causing great damage to the society in middle of such a crisis.

Raghuram Rajan: We cannot be a house divided at times of crisis like this. Social harmony is a key infrastructure.

9.15 am: Rajan asks Rahul Gandhi about the effectiveness of the panchayati raj system in India. Rahul Gandhi says, “It was effective once. We are moving towards more centralisation of power and northern states are more bureaucratic or DM-based.”