(MENAFN) On Sunday, Raghuram Rajan, a famous economist and former RBI Governor, stated that India’s economy has "some bright spots and a number of very dark stains" and that the government needs to "carefully" aim its expenditure to avoid large imbalances.
Rajan, who is known for his bold opinions, further stated that the government must do more to avoid the economy from rebounding in a K-shaped pattern as a result of Covid-19.
Generally, a K-shaped recovery will reflect a situation where technology and large capiital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
A K-shaped recovery will normally illustrate a circumstance in which technology and large capital enterprises recover at a more rapid pace than small companies and sectors that have been severely hit by the outbreak of coronavirus.
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