India needs Rs 65,000 crore to help needy during COVID crisis: Raghuram Rajan

India needs Rs 65,000 crore to help needy during COVID crisis: Raghuram Rajan

Former Reserve Bank of India (RBI) Governor Raghuram Rajan said that Rs 65,000 crore is required to help the poor affected by the coronavirus-induced lockdown.

He also laid stress on the need to restart the economy while taking precautions.

Rajan's remarks came during his interaction with Congress leader Rahul Gandhi, via video conference, on the economic crisis looming over India.

"Our GDP is 200 lakh crores, and out of that 65,000 crore is not a huge amount.

So, we can do it.

If this is for the poor and to save their lives and livelihood, we must do it." Speaking on opening up the economy, Rajan said: "We have to start thinking about restarting people's livelihood," said Rajan.