New Delhi: Former Reserve Bank of India (RBI) Governor Raghuram Rajan on Thursday said that unemployment numbers are really worrying and India needs to be “cleverer” about lifting the lockdown.
Rajan’s remarks came during his interaction with Congress leader Rahul Gandhi, via video conference, on the economic crisis due to ongoing lockdown which is scheduled to end on May 3.
“The numbers are really worrying. If you look at CMIE, virtually another 100 million more people have been put out of work as a result of COVID. 50 million through unemployment and 60 million through leaving the labour force,” he said while responding to Rahul’s query that India has a high level of unemployment, that is now going to be massive.
“I think it says, we need to open up in a measured way but as fast as possible so that people start having jobs. We don’t have the capacity to support people across the spectrum for too long. Being a relatively poor country, people start out with significantly lower reserves,” he said.
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