Coronavirus impact on the economy can cause deep crisis says Raghuram Rajan. Relief is that India has lesser corona cases. Economic growth in the U.S and Europe may decline. We have to wait until 2021 for the situation to improve. It is unclear whether the financial sector will show a steep or gradual rise. People will come out when public spaces turn safe, only then consumption will resume. Across industries, existing work patterns will change. Large companies should also take precaution. Raghuram Rajan has been nominated as a member of the IMF External Advisory Group.
